Support Level Shows An Up Turn Coming Soon
Texas Electric Rates came down dramatically mid afternoon today December 7 2007 because of a 2% decline in natural gas prices. This drop in the market brought electric rates back down to their 12 month fixed rate support level of 7.8 cents kWh for commercial electric rates. Now that electric rates have hit the bottom there is a consensus out there that we will see electric rates begin to come back up. For a commercial business waiting to see what electric rates are going to do there is not a better time to stop looking, researching, pandering, and get off your seat and make a decision. This would be the ideal time to lock in for atleast a year as energy rates aren’t likely to come down much further.
The historical graph below shows the support level of electric prices over the last 12 months for a 12 month fixed rate energy contract in Texas. As you can see there have been several bounces on the 7.8 cent kWh range and I would expect rates have only to turn up from here.
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