Texas first allowed deregulation when competition was allowed in the wholesale market; this change was established in 1995 with the passage of Bill 373. Then, in 1999, more deregulation was passed with Bill 7. When Bill 7 was implemented in January 2002, consumers across most of Texas — including Waco — gained the power to choose from a variety of competing electricity companies.
Before deregulation, consumers had no choice when securing electricity service – it had to be done with the utility serving the area. In Waco, deregulation has opened the market to multiple providers who offer varying discounts and rate plans. While rates statewide were not always quick to drop in the immediate aftermath of deregulation, over time the change has come to offer generally lower prices than people who live in other states. For instance:
- Texas residential electricity rates are 10 percent lower than the national average.
- Texas commercial electricity rates are nearly 23 percent lower than the national average.
- Texas industrial electricity rates are nearly 16 percent lower than the national average.
Deregulating the state of Texas has not stopped energy alternatives from cropping up. In fact, the city of Waco has agreed to a green energy plan that would take city buildings to 100% renewable energy by 2022, including changes like making fire stations solar power dependent and adding more wind power. This is aligned with the greater trends in Texas.
The Choose Energy marketplace gives access to many providers of cheap electricity in Waco, and your recommendations feature transparency. We’re talking about ratings for every provider, estimated monthly bills based on 1,000 kWh usage, and any plan terms. We guide you through the whole process. When you compare electric rates in Waco on Choose Energy, you can also take advantage of: