Support At 8 Cents kWh
< The Texas electricity market has found support around the 8 cents a kWh level for 12 month fixed term contracts. Electric rates have hit this level once again and we are in a good position to lock in on a rate while we are at this low support. Based on purely technical analysis there is a strong likelihood that rates will bounce up as they have been doing this year from this support. Of course with any type of stock, energy, commodities speculation there is really no way to be 100 percent sure as to what these electric rates will do or I would be living it up in Belize on a yacht right now as I make large returns on energy futures.
For thoseÂ commercial businesses needing a 12 month historical electric rate chart showing exactly what Texas electric rates have done this is a goodÂ line graph for that. Below you may find thisÂ graph helpful in determining what electric rates may do over the next few weeks. As you can see the support shows to be at 7.8 – 8.0 cents kWh give or take a fraction. This appears to be a support so watch for a pull back up. If it breaks out down below 7.5 cents kWh for a 12 month fixed rate term then we can look to see if we might go lower but right now it does not show that potential.
12 Month Historical Graph
Learn more about Texas Electric Rates