Average 12-Month Fixed-Rate Prices for Q1 2015
Welcome to the second installment of the SaveOnEnergy.com® Electricity Rate Report, where we present to you the lowest rates available for a 12-month, fixed-rate electricity supply plan in various parts of the country during the first quarter of 2015. Last time, we highlighted rates for Q4 2014 in the CenterPoint Energy and Oncor utility service areas of Texas. Today's report focuses in on Q1 2015 in those same two parts of the state.
Our goal with this tool is to help our customers discover the most consistently affordable providers in their region without any bias toward a particular company or plan.* As we collect more information each quarter we hope you'll be able to better predict your best bet for a new electricity supply plan. With that said, let's take a look at how energy rates differed in the first few months of 2015 from the end of 2014.
CenterPoint Energy Service Area
The cost of the average 12-month fixed rate supply plan increased slightly in the first quarter of 2015 compared to Q4 of last year and the top spots were shuffled, with Champion Energy claiming the lowest average rate in both the CenterPoint Energy and Oncor service areas. For CenterPoint Energy, Champion's Champ Saver 12 plan maintained an average rate of 9.77 cents/kWh, beating out by a slim margin First Choice Energy's Texas Choice Savings 12 plan, which boasted an average of 9.88 cents/kWh.
Rounding out the top three, Direct Energy's Price Protection 12 was offered to customers throughout Q1 at an average of 9.93 cents/kWh.
|First Choice Energy||9.88|
Oncor Service Area
They whistled the same tune in Oncor service areas during Q1, where the top three spots were again claimed by Champion, First Choice and Direct. While the companies didn't change, Oncor did experience lower average rates by nearly a full cent per kWh. Champion Energy boasted the only supply plan with an average rate less than 9 cents, coming in at 8.87 cents/kWh. First Choice Energy offered a slightly higher average rate of 9.02 cents/kWh, and Direct Energy took the third spot by charging an average of 9.10 cents/kWh.
|First Choice Energy||9.02|
It was a solid first quarter in 2015 for these three companies in both the CenterPoint Energy and Oncor service areas. Remember to check back here at the Rate Report in July to see if any Texas suppliers can dethrone Champion for top spot on our list.
* The average rates in this report were calculated using proprietary onsite data from each time a retailer adjusted pricing for its 12-month fixed-rate products. A weighted average was calculated, attributing each adjusted rate to the total number of days it was applicable.