When you sign up with an energy provider, you can also choose the type of electric plan you want. Some of the most popular types of energy plans you’ll come across in Texas are fixed-rate, variable-rate, prepaid, and no-deposit.
When you sign up for a fixed-rate energy plan, you lock into a contract for 12, 24, or 36 months. Your energy rate is locked in during that time and won’t fluctuate with the market. You’ll see more stability in your budget, but keep in mind you’ll pay an early termination fee (ETF) if you end your plan early. There’s also a chance that your electric rates will increase when it’s time to renew your plan, especially if you locked in a fixed rate during a promotional period.
A variable-rate plan has a monthly rate determined by the current wholesale energy market. In some months, you’ll see your rate increase, while you’ll save money in others. Although a variable-rate plan does not provide security, it can provide flexibility. You can switch providers at any time since there is no contract.
Prepaid and no-deposit plans
Depending on your credit score, you may be required to pay a deposit for your new energy plan. Some providers offer no-deposit plans that don’t require a deposit. A prepaid energy plan is a type of no-deposit plan where you pay for your electricity up front.
Grand Prairie green energy
The Lone Star state generates a large amount of renewable energy. Texas produces the most electricity from wind energy and is the second largest producer of solar energy.
Since Texas is a powerhouse in renewable energy, each electricity plan contains at least some green energy. You can find the exact percentage on your plan’s Electricity Facts Label (EFL). Certain providers offer 100% green energy plans, such as Gexa Energy. Enter your ZIP code on our marketplace and set the filter to “green energy” to find green options near you.
Grand Prairie energy for business
With deregulation, businesses in Grand Prairie also have the power to choose their electricity provider. The Choose Energy marketplace helps you receive customized energy solutions for your company. To get started, fill out our business energy form or call the number on your screen.
Grand Prairie electric rates in my area
When you shop for electricity rates, you might notice that rates change from city to city, even for the same plan and provider. That’s because electricity rates include utility transmission charges, which vary according to the utility that serves your area. For that reason, you should search for electricity rates in your area. Visit the Choose Energy marketplace and type in your ZIP code to compare electric rates in Grand Prairie today.