Right Now Is The Best Time To Shop For Electricity in Texas
Texas is known for big summer energy bills. This past July, the average electricity bill topped $170, and with increased consumption, August monthly electricity bills could reach $200.
However, there’s a few reasons why now is the perfect time to shop for electricity. According to Choose Energy research, prices are at all time lows, consumption is projected to increase, and as a result prices are projected to jump in the near future. Finally, green energy is cheaper than ever, making now the perfect buying opportunity for Texas electricity.
Texas Prices Have Dropped 8.6% Since March
Since yearly high prices in March, Texas electricity prices have plummeted from 10.5 c/kWh to the current rate of 9.6c/kWh. This is a result of above average prices that stemmed from lower natural gas supplies. Because of the unseasonably cold winter, we used more natural gas (which generates ¼ of US electricity). That inflated electricity prices, and now things have calmed down, yielding a great buying opportunity for Texas residents.
Texas is always hot, but tends to be even hotter in August. As a result, Texans use more electricity to keep homes cool, which increases electricity consumption. Higher consumption means significantly higher bills, and the average Texan home can expect to see August bills in the $200 per month range.
Because consumption is increased in July and August, by locking in a lower rate now, you’ll be able to save, even though more you’ll consume more energy.
Prices are Projected To Go Up
Furthermore, now is the perfect buying opportunity because electricity rates are projected to rise in the near future. This is a result of the increased consumption, and anticipated natural gas needs for the upcoming months. Because prices are projected to go up in the near future, there’s a perfect buying window right now in early August for finding the best electricity rates.
Go Green, Cheaply
Join the other 40% of Texans who’ve gone green. Texas is a leading green energy state, and green plans are just as cheap as traditional plans. Comparatively, green energy has never been cheaper in Texas, which means you can go green for the same cost as using traditional electricity, at a discounted rate.
Right now is the best time to shop for electricity in Texas, for four reasons. First, electricity prices have leveled out, and are at a yearly low. Secondly, now is the time when Texans use the most electricity, and by locking in a low rate now, you can pay less as you use more electricity. Thirdly, prices are projected to go up in the near future, meaning the ideal buying window is closing quickly. Finally, green energy is “on sale” and renewable power costs the same as traditional energy, meaning that you can power your home with 100% renewable energy for the same cost as traditional energy.
More Energy Data:
Electricity price projections are future projections, and subject to change. The numbers are estimates based on proprietary Choose Energy data and government consumption estimates. All rates could change and the best place to see more is by visiting the Texas Empowerment Reports to get daily, fresh insights from our research.
Average bill estimates are calculated by multiplying competitive electricity rates by monthly consumption, and vary from government price projections.
To learn more about electricity rates and savings tips, visit our Education Center. Here, you can find energy shopping advice, energy savings tips, and the ability to learn more about deregulation.