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.
Texas deregulated most of the state's electricity markets in 2002, a move aimed at lowering electricity costs by letting consumers choose their own electric power providers and their own plans. Some parts of Texas continued to be regulated, including those whose power is proved by municipally-owned utilities, electric cooperatives and investor-owned utilities that operate outside the state's primary power grid.
Houston and its surrounding suburbs play a huge role in the global oil industry. Houston energy providers and Fortune 500 companies are located all across the city. Whether you’re in town to visit Houston or you’ve lived here your whole life, the city has a lot to offer. Sports fans can root for the Astros and the Rockets, while others can enjoy shopping, exploring parks and checking out the vibrant nightlife.
To skirt the late summer electricity rate hikes, a little bit of planning can really pay off. Try to avoid signing new long-term electricity contracts in late summer. While it may be impossible to escape signing a new electricity contract if you’re moving during that time, just know that a short-term plan may make more sense until the rates go back down in the fall. That way you’re not stuck paying a premium rate for an entire year or more.
2013 On March 14, CenterPoint Energy announced it was teaming up with ArcLight Capital Partners LLC and Oklahoma City-based OGE Energy Corp. (NYSE: OGE) in an $11 billion deal to create one of the largest master limited partnerships in the U.S. The joint venture includes OGE Energy and ArcLight's midstream transportation, gathering and processing business, Enogex LLC, and all of CenterPoint Energy's interstate pipelines and field service businesses. ArcLight Capital Partners is a Boston-based energy investment firm.
There are approximately 5,000 businesses associated with the energy industry in Houston, which is why the city is known as the world's "Energy Capital." Houston is home to more than 2 million people and is one of the most populated areas in the United States. City homeowners, renters and business owners get to choose between energy companies in Houston to supply their electricity. In Houston, one electricity supply rate won't fit the needs of all energy users. Therefore, it's important for consumers to use electric choice to shop for the best plan for them.