We could all use help when it comes to saving money on your electricity bill. We are here to help! This week’s Ask Amy focuses on electricity rates and how you can save when it comes time to review, renew, or change your energy provider. Guest: Mike Harrington, VP American Enerpower.
Watch the episode in the video link above.
Websites mentioned in this episode
Powertochoose.com (Reminder from the podcast: Don’t just google power to choose to find the Power to Choose website. There are many companies that use similar website names.)
Public Utility Commission of Texas (info about electric company choices, provider of last resort, etc)
For quick reference, you can scroll to these timecodes in the episode to hear a specific topic
1:40 How can you find the lowest rate for electricity? Why are some people intimidated by the process of shopping with electricity
2:15 Why some people are taken advantage of when it comes to electricity rate increases?
3:00 Should you sign up for a 1-year deal or 3-year deal on electricity?
4:00 How much more you can expect to pay for your electricity bill right now?
5:00 Researching your past usage can help find the best rates now.
5:30 Powertochoose.com is run by the state of Texas and has all prices. You can also see the energy rate, which is helpful for shopping.
7:02 Why you might not want to just sign up with the electric company with the lowest rates.
8:00 What is an electricity facts label and why you should look at it?
11:00 Should you lock in for a shorter-term electricity rate deal right now?
13:42 Mike explains why people in the Houston area will pay extra fees.
15:50 What about those electricity plans that offer free days? Is this really a deal?
17:45 Is balanced billing good for some people? The pros and cons of balanced billing for your electricity bills.
20:00 Can any certain electric company get power on quicker if your power goes out?
23:10 What do you need to know if your electric company is about to expire? What you need to do before signing up with a new electric company.
26:20 Biggest point: do not go month to month on your energy contract. Keep track of when your contract expires!
Helpful KPRC links related to electricity rates
Ways 2 save: 5 things you can do to save $800+ a year on energy costs around your home
What the changes to the electric market mean for your bill
3 steps to find the best electricity prices