HOUSTON – It is heating up outside, and that is a good reminder that you may need to shop around for a new electric plan. We know electric rates tend to go up in the heat of the summer. That’s why you should lock in your rate before they start to go up.
“If you haven’t changed providers and you don’t really remember the last time you did this, chances are you’ve probably fallen out of your fixed price contract and you’re probably on a variable rate program,” said Jesson Bradshaw, the Chief Executive Officer at Energy Ogre.
The company helps consumers find the best electric plans for them for a flat $10 a month rate. Even if you don’t use the company and you do it alone, Bradshaw says you can use their savings calculator to find out if you are overpaying and approximately how much you should be paying.
How to find the best plan
Then head to the Texas Power to Choose website to look for offers in your area, keeping these things in mind:
- The best rate (at the time this article was published, according to Bradshaw) is 8.5 to 9.5 cents a kilowatt all in (that means this rate includes the TDSU pass-through charge).
- You can switch providers 14 days before your contract expires. Some providers let you lock in a rate up to 30 days before your switch, so if yours does expire later in the summer, you should still start shopping now.
- Look for simple rate plans by reading the Electricity Facts Label. You want a plan that charges the same rate, no matter how many kilowatts you use.
“If you get into them, and you start trying to read it and it’s like Greek, it’s super complicated... usually, you’re not gonna get what you think you’re gonna get,” Bradshaw explained.