When you’re exploring Waco electricity providers and rates through Choose Energy, you may notice several different types of electricity plans, including fixed-rate, variable-rate, and prepaid plans. Let’s take a closer look at each type of electricity plan to help you decide which one is the right fit for your home or business.
If you choose a fixed-rate plan, you’ll pay a set electricity rate for the entire agreement. Fixed-rate plans usually last for 12, 24, or 36 months. Your rate won’t increase even when demand is high. However, if you want to cancel before your contract ends, you may owe an early termination fee (ETF) of $50 to $250. You may also see a noticeable increase in your electricity rate once your plan is up for renewal.
In contrast, variable-rate plans don’t have a set rate or a contract — you can switch providers anytime. However, your electricity rate will change depending on the current wholesale cost of power. This is great when prices are low but riskier when demand and costs spike.
Prepaid and no-deposit plans
Before beginning service, it’s common for power companies to run a credit check on prospective customers. If your score doesn’t meet the provider’s requirements, you may need to pay a deposit.
If you’d rather bypass the credit check and deposit, a handful of energy providers offer no-deposit and prepaid plans, which allow you to prepay for energy and top up your account as needed.
Submit your ZIP code on this page to find and compare Waco electric rates today.
Waco green energy
Texas is a powerhouse of green energy production, generating the most wind energy in the nation and ranking second for solar energy production. As a result, Waco residents and business owners can both choose from several green energy plans for their respective needs.
In Texas, all electricity plans include some energy from renewable sources, but just how much renewable energy your plan contains depends on the provider and particular plan. Check the Electricity Facts Label (EFL) to find out how much your plan contains. Some providers specialize in 100% green energy production. If you’re looking for a green energy provider in Waco, consider Gexa Energy or Green Mountain Energy.
To find renewable electricity rates in your area, enter a ZIP code on this page and filter for green energy for current rates.
Waco energy for business
If you’re a business owner in Waco, you also have the power to choose your power company. Check out our business energy hub to learn about your options and get a customized commercial energy plan through Choose Energy.