Volatile Texas Residential Electric Prices
As many people know by now, in Texas, electric rates can change over the course of the week if the energy commodities market goes through a volatile swing. Such has been the case this month. Just as oil, electricity and natural gas fears were getting the worse of everyone prices plummeted down. Many people locked in for 2 – 5 year electric contracts at close to the top of the market. Only two weeks later and many of these consumers are kicking themselves for locking into a long term contract as a sales person of an electric company scared them into it. Unfortunately this is the case for some but others waited it out and for you I must say give yourself a pat on the back. You picked a good time to be shopping for a competitive electric rate. Rates still don’t look as good as last summer around June 1st 2007 but they seem to be getting there. The electric rates in the list below were updated on August 18th. The market could go up or down between now and September so the rates below may be a little lower or higher then what is shown as we approach closer to September.
What monthly fixed term do you recommend?
I would recommend signing up for a 12 month fixed rate right now. The statistics when looking at natural gas futures is that Texas electricity prices will be lower sometime between 13 and 24 month from now. Because of this I would sign a 12 month fixed energy contract and try again next year. For those who are wondering why I mentioned natural gas when talking about Texas electricity it is very simple. Texas electricity has about a 90% correlation with natural gas prices. Most of our Texas power plants create electricity through steam driven natural gas power plants. Because of the reliance on natural gas to create electricity in Texas you could just follow NG out at www.nymex.com to keep track of what Texas electricity might be doing.
List of Electric Companies from Cheapest to Highest
Below is a list from cheapest to most expensive of Texas residential electric companies in Dallas, Fort Worth and surrounding North Texas. These rates were updated as of August 19 2008. They could be a little higher or lower as the month moves out further. If you live in Houston these rates will be a little higher across the board with all providers. Also keep in mind that the top 3 electric companies in the list below are discount offers with reputable electric providers, a little cheaper then what the electric companies typically offer. Provided you sign up with them online using the discount electricity links in the chart below you will get their special 12 month fixed discount offer.