Hurricane Ike, Electric Comparison, and Relief from Summer Rates
Houston had a major issue with hurricane Ike this last month and surprisingly it had little effect on electric rates. A lot of oil and gas infrastructure was shut down but nothing was destroyed. This still usually has a negative impact on the price of electricity but because oil and natural gas is being swayed by several other factors in the trading commodities market the electric rates did not spike up.
Electric rates in Houston have come down way below their highs this summer when rates were at historical all time highs. That price spike in the summer was related to natural gas prices rising in the commodities sector beyond any level they have seen before. This had about a 90% correlation with the price of electricity. To complicate matters Houston residential electric rates were higher then usualy because several providers had bought electricity on the MCPE ERCOT market and could not meet their financial responsibilities. These electric companies also had no hedging in place so if an electric customer in Houston was on a variable electric rate they may have seen their rate tripple during this time.
Electric Rates Look Much Better From Summer Prices
Take a look at our Houston Texas electric rate comparison. We have rates listed from cheapest to most expensive. Most rates are fixed and there is a designation in the chart to differentiate between a fixed rate or a variable rate. I do not recommend signing a variable Houston electric rate contract as it is subject to change without notice. You may click on the links in the chart below and sign up online at these discounted online electric rate prices.