*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.
1. Contracts: Before, there were no contracts. You signed up or you didn’t. When it’s the only game in town, you have to play by their rules. Nowadays, you’ll see these ultra-fabulous rates bandied about but it’s only by carefully scrutinizing the fine print that you’ll discover those wonderful rates come with a one-year lock-down or other catches.
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.
The low teaser rates for consumers available just a month ago have disappeared, making it impossible for buyers who average about 1,000 kilowatts a month to lock in a three-month rate for less than 18 cents a kilowatt-hour, according to PowertoChoose.org, the price comparison tool run by the Public Utility Commission of Texas. A year ago, Texans shopping for a three-month contract could find rates that were less than 7 cents a kilowattt hour while earlier this spring, bargains were still available for less than a nickel a kilowatt hour.
That phenomenon has played out in Texas electricity markets, where few customers are willing to navigate the maze of power plans in the hope of shaving a few cents per kilowatt hour from their electric rates, according to the Texas Coalition for Affordable Power which buys electricity on behalf of municipal governments in Texas. As result, customers in regulated markets such as San Antonio and Austin on average pay less for electricity than those in deregulated markets like Houston, according to the coalition.
*Qualifying purchases. 1 membership per 12 months. Meerkat Meals – 2 for 1 on equivalent starters, mains and desserts. Cheapest free. Sunday to Thursday. Participating restaurants. Booking required, max 6 people. Excl Kids meals, drinks and certain days. App only. Meerkat Movies – 2 for 1 on Tuesday or Wednesday. Participating cinemas. Standard tickets only. Cheapest ticket free. Please note your claim may take up to 48 hours to validate. Rewards T&Cs apply
2of 3Cattle roam on a mesa near Iraan, Texas on the site of the Desert Sky Wind Farm. According to website Desert Sky Wind Farm® is a 160.5-megawatt (160,500-kilowatt) wind power generation facility located near the far West Texas town of Iraan, in Pecos County. The site includes 107 turbines, each rated at 1.5 megawatts (1,500 kilowatts) spread over a 15-square-mile area on Indian Mesa.Photo: John Davenport, Staff / San Antonio Express-News
“The whole business model of the industry is to get people in on the promotional rates and then jack up their rate when the promotional rates end,” said Trent Crow, a former JP Morgan energy trader and founder of Real Simple Energy, a website that helps consumers find low-cost electricity plans. “I don’t think people realize how much they are overpaying.”
2. Most companies have this basic $9.95/mo charge if you don't meet a certain kWh, usually 1000 kWh (Reliant is 800kWh minimum). That will pose a problem in those more temperate months like in the spring and fall because although you're paying lower kWh,you're paying that extra $9.95/mo for no reason. ASK YOUR ENERGY PROVIDER WHAT THE LIMIT IS. I got a minimum of 800kWh/mo with Reliant; if I go under 800kWh, I will have to pay $9.95. Good thing about Reliant is that they do a weekly energy usage report, and you can keep up with how much you may owe. That's pretty useful to me, considering I live in a smaller space, thus less usage.
Electric companies buy longer-term contracts so they can hedge their risks when they’re selling long-term electricity plans. Just a week ago, it looked as if wholesale prices would be as high as Texas has seen in the past 15 years, said Ned Ross, director of governmental affairs for Direct Energy, the third biggest seller of electricity in Texas, behind No. 1 NRG and No. 2 TXU. Future prices have retreated recently, but companies buying power for August are still paying at least double what they paid a year ago, according to data from the Electric Reliability Council of Texas, or ERCOT, which oversees the state’s power markets.
TXU is high because they charge their customers for the "fuel" to run their power plants - that's what the supervisor told us when we called to complain about my godmother's bill. Her actual usuage was $350 and they charged her an additional $350. And she didn't understand the bill so she had been paying it for months until we started looking at it. They are a rip off. Would never recommend them.
Houston Electricity Prices and Rates was created to make evaluating electricity providers’ rates simple and clear. Whether you are a commercial business that wants to take a critical look at all the market has to offer or a residential customer looking for the best rate for your home, we provide a one stop shop to help you make the best decision regarding your electricity costs.
The Bayou City is diverse in its population, culture and electricity rates. Houston attracts college students who attend well-known schools in the area such as Texas Southern University, University of Houston and Rice University. Also, Houston's entertainment and year-round events appeal to young couples and families. Attend an Astros game in Minute Maid Park or visit the Houston Zoo – there's always something happening in H-town.