The increase in retail rates come as companies prepare for surging prices in the wholesale electricity markets where they buy their power. Forecasts of higher than normal temperatures and record power demand are coinciding with the shutdown of at least three coal-fired plants, leading to concerns that temporary shortages on the hottest summer days could send wholesale prices, which typically average less than $50 per megawatt hour, spiking to $3,000 per megawatt hour or higher. (A megawatt hour is 1,000 kilowatt hours.)

The increase in retail rates come as companies prepare for surging prices in the wholesale electricity markets where they buy their power. Forecasts of higher than normal temperatures and record power demand are coinciding with the shutdown of at least three coal-fired plants, leading to concerns that temporary shortages on the hottest summer days could send wholesale prices, which typically average less than $50 per megawatt hour, spiking to $3,000 per megawatt hour or higher. (A megawatt hour is 1,000 kilowatt hours.)
As a result, power companies have shut down Texas coal plants unable to compete with lower-cost generators. Meanwhile, the low electricity prices of recent years — a function of cheap natural gas — and small profits have discouraged companies from investing in new power plants. ERCOT, which oversees about 90 percent of the state’s power grid, said power reserves that are called on when demand peaks on the hottest summer days have shrunk to the lowest levels since Texas deregulated power markets in 2002.
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*Save Over £390 - Over 10% of the estimated quotations raised by users of the Simply Switch Website to switch their gas and electricity suppliers between 01/02/2015 - 01/06/2015 produced a predicted annual saving of £390 or more. Current combined spend for gas and electricity of between £84 and £6869. Savings may have included Direct Debit and online discounts. Energy prices vary by usage and postcode.
The more cool air you lose, the harder your air conditioning unit works and the higher your electricity bill will be. Install blinds, hang curtains or get storm windows made to keep cool air from seeping out. Even mesh screens, on the outside of your home, will help deflect solar radiation. You might even consider replacing old windows that leak cold air and let in heat.
Consumers were promised cheaper power when Texas deregulated its electricity markets in 2002 at the urging of big industrial users and power companies. Average retail prices have declined by more than 60 percent since 2001, although much of that decline is due to the plunge in natural gas prices that followed advances in shale drilling and consequently wholesale power prices. Proponents of deregulation argue that they still have choices that can save them money.

REPs sell electricity rates to Houston energy consumers, but transmission and distribution service providers (TDSPs) deliver the supply of electricity. In Houston, CenterPoint Energy serves as the area's TDSP and works with about 85 REPs. If your power goes out, immediately report the issue to CenterPoint Energy, not your REP. Use the following phone numbers to get in touch with your Houston TDSP.
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