Energy analysts predict that Texas electricity rates will remain in a low price range for some time. The natural gas futures which creates the electricity prices we pay our energy providers are in a $4 – $5 range for the prompt month. This range is likely to hold steady for several months according to several energy experts in the oil and natural gas trading business. No one can accurately predict for sure if Texas electricity rates will stay in this low price range for the next 6 months or longer but if I were to bet on the likelyhood of this prediction I would bet that prices are more likely to stay low then go back up to the prices we saw in the summer when a residential electric rate was around 16 cents kWh on the low end.
Some energy consumers in Texas have been complaining that their long time electricity provider, Reliant Energy has been putting them on 18 cents kWh variable rates while the energy sector is supposed to be supporting lower prices then that. Loyal Reliant Energy customer Jim K. decided to call Reliant Energy and ask them what’s up with the ridiculously high electric rate. That type of Texas electricity price made sense in the summer because energy was trading at historical all time highs. Natural gas was trading around $12 – $13 mmBtu and electric rates on a 12 month term were costing 16 cents kWh just to lock in. Jim K. could not understand why Reliant has rewarded his long time loyalty to their company with an 18 cent kWh electricity rate when prices are very low again. Doesn’t it make sense to bring that profit margin back in line with where the market is at and reward customer loyalty? Reliant Energy told Jim that they could renew his plan and lock him back into a fixed electric rate at 12 cents kWh. Jim wasn’t sure if their were additional charges and fees Reliant was not telling him especially after being charged 18 cents kWh for a few months.
Jim decided to switch electric companies from Reliant Energy and so he compared several cheaper electric companies with a history for being reputable and not cramming in additional charges and fees that show up on the bill later. He browsed through the cheapest 1 year fixed residential electric rates on Electricity Bid for the month of March 2009 and signed up with Startex Power on their 1 year electric rate plan which was the cheapest this particular month. Startex Power has several thousand satisfied customers on their fixed electric rate plans and offer several different terms including short and long term options.
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