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Low Residential rates following Natural Gas movement down
During 2007 we saw electric rates travel down with natural gas prices all the way up to January 1st 2008. Not but a few days after the 1st electric rates spiked up to their mid level historical average from the previous 12 months. Electric rates are still relatively low and a 12 month contract still makes good economical sense.
Champion Energy Residential Electricity
Champion Energy has made quiteÂ a swing down with their Texas residential electricity rate. Startex Power has come down even further and does not charge a monthly service fee unless you are using under 500 kWh a month. Most residential energy consumers use over 500 kWh. You can learn more about the cheapest electric provider in Texas by clicking here. Energy has become competitive among the residential electricity providers as many new companies enter the market. On power to choose we see over 40 Retail Electric Providers all offering a different branded product with its own little gimmick to sway you into signing up on their service. There are several hundred different electric rate products but in order to establish some benchmarks when comparing it is best to stick with a fixed rate electric product that doesn’t change during the term of the energy contract.
Residential Electricity Choices
There is the “Market Tracker” with TXU, the “Green Earth” plan with Green Mountain Energy, the Reliant “Power Tracker” and several other branded products to hook you in one way or another. The plans each have their merit but many consumers just want to know, “what is the cheapest plan?” If these Retail Electric companiesÂ just sell youÂ the energyÂ while you still receive your power from TXU or Centerpoint Energy as you always have then why not find the cheapest electric company and just go with them?
Going with the cheapest electric provider
I like this kind of logic myself and would start off by recommending you stay away from TXU and Reliant at this time as their products are not very competitive next to the competition. They rely a lot on their big names and it seems to be working. That means they do not have very much incentive to go lower or offer you a lower rate if for instance your contract comes up for renewal.
What is Champion Energy’s Residential Electric Rate?
Champion Energy has a 12 month rate that is 11.6 cents as of August (as of January 27 2008 they are now at 11.1 cents kWh)(Natural gas now trading around $9 – $10 raising Champion’s 12 month fixed electric rate to 12.6 cents kWh as of April 3 2008). The rate came down a lot due to Natural Gas trading around $6 MMBtu. This Natural Gas closing price is not typical and so locking in for atleast 12 months could be a wise choice for a household. They charge a $4.95 monthly service fee which for a house that uses 1500 kwh a month would bring the average electric rate up to around 11.93 cents kwh. This is still very low next to the other competitive providers and you can count on very good customer service, accurate billing and over 100 years of business knowledge in the industry. As of February 2009 electric rates have changed again and Startex Power currently has a better offer on several different fixed rates with no monthly service fee. You can learn more about the cheapest Texas electric rate by clicking here.