April 2008 Texas Residential Electric Rates

In the Oncor Electric Delivery area of Texas which includes Dallas TX, Fort Worth TX, much of East Texas, and quite a few other cities scattered throughout Texas you can compare April 2008 Texas electric rates with the form below.

How to Use the Texas Electric Rate Comparison Chart

The form below is sorted by price but you can type in “fixed” or “variable” and it will show you just fixed electric rates in Texas or just variable Texas power prices. If you have a favorite company you like to use you can type in that company and it will give you just their rates. We recommend Startex Power as the cheapest and most reputable Texas electric provider. Champion Energy is the closest to Startex Power’s fixed electric rates but Startex still has the cheapest fixed and variable electric rates. Both of these Texas electric providers offer competitive electric rates and have accurate billing and competent customer service. Houston electric rates may be a little extra with some electric companies.

March 2008 Texas Residential Electric Rate Comparison

Texas Residential Rates Hit 3 Year High and Make A Short Dip Back Down

Residential Energy prices in Texas dipped down for a little bit off of their 3 year historical highs. There is no indication fundementally about whether they will keep going down or will come back up and many people have lost patience with the continued rise in electric rates in Texas. Some energy analysts speculate that since electric rates have gone up so high for rather superficial technical reasons then when the summer hits they could be spurred on even further by hotter weather.

Why Are Texas Residential Electricity Rates So High?

I believe that the weakening US economy has encouraged many investors to put their money into gold, oil, and other commodities and energy related stocks and ETF’s. This has caused a spike in natural gas and energy as a whole as many people have fled from the fall of the US dollar’s value by investing in things that are going up. When the US economy turns around many people will leave their long positions and Texas residential electric prices will make the needed correction back down to their original levels. Seasonality is already built into the Texas electric rate but if we have a hotter then expected summer then indeed prices could keep going up. If the economy improves, even if Texas electric companies raise their prices in the summer it may have corrected enough in the energy sector to provide for a lower residential electric rate then we are experiencing right now.

Residential Electricity Comparison Chart

Here is a comparison chart showing several different Texas residential electric companies and their energy prices. You can search based on the company, fixed, or variable, and by monthly term. Right now Startex Power leads the way with the best month to month rate. You can follow the chart on down to the highest cost Texas electric provider.

Champion Electric

Champion Energy

Cheapest recommended residential Texas electric company rates are listed in the compare tool to the right. To compare Champion Energy with other electricity providers in TX please type in your zip code to the right and click on “Compare”. If you do not live in either Dallas or Houston you may still click on the button and enter your zip code to check rates in your area.

Champion Energy offers only one term for their residential electric plan, we currently recommend Startex Power over Champion Energy at this time. They have the cheapest electric rate and there is no monthly service fee. As of February 2009 their electric rate is 11.3 cents kWh with no monthly service fee and this is for 12 or 6 months fixed(as of Feb 23 2009). I have yet to see a better offer then this.

Since these electric rates have been published electric rates could come up across the board among all providers if the energy market makes a move up. Feb 2009 represents a fresh low in energy prices.

If you would like to see the cheapest electric providers rates and terms of service in comparison to Champion Energy’s current electric rates you may click on the yellow gold boxes above. Enter your zip code and all available terms with Startex Power will come up at their lowest available prices. This is their promotional electric rate and you can sign up on this promotional offer using the promo box above. The promo code is built into the link so their will be no need to enter it as it will be filled in for you.

Since we wrote about this offer in February the Texas electric market could have gone up or down since then. Because of this the discount rate now could be higher or lower from what was offered in February 2009. Once you lock in to the electric rate it is fixed but Texas electric rates change quite frequently with the commodities market so it is important to lock in at the right time.

Texas Residential Electricity Explained

Residential electric companies competing in Texas have begun to offer several different electric rate products that are a mix match of both fixed terms and variable rates. What first looks to be like a great offer can come back to sting you later. The latest issue I have seen is with Texas Retail Electric Providers requesting that you sign a 12 month contract to be on their variable rate. The issue we have with this is that these energy companies are working with a base energy rate that they do little in the form of hedging.

This means if the rate skyrockets they pass that issue on to you and you end up paying a really high bill one month when the variable market goes through the roof. To request that the customer sign a contract to a rate they have no guarantee on is a bit insulting to me. Most electric companies out there however will have you sign a 6, 12 month or longer contract for a fixed electric rate.

There is absolutely nothing wrong with this as they have bought and hedged this energy at this term in order for you to buy it and insure that you pay that same rate the rest of the year. There is an actual service being performed here and a reason you need to sign a contract. If you were to break the contract early if perhaps energy rates went down and then signed up with a different electric company your previous electric company would be out of pocket for the difference in the rate they sold you and where the market is at now. Since they bought this electricity back when the market was higher they now have to sell it back at a lower price then they paid for it.

They end up losing money on you leaving and going somewhere else. The variable market rate however is not hedged and is basically just an index price. The retail electric provider adds their adder onto the index price and that is their margin. They don’t hedge the energy but allow it to go up and down and sell it as a market rate with you carrying the risk. There is no reason to sign a contract on this type of rate as the risk is past on to the customer.

Learn more about Texas Electricity

Startex Electric

Note: We no longer offer Startex Power on our comparison chart. This is an old blog post written back in January of 2008.

You may still compare multiple electricity companies and their rate plans using our zip code tool at the right. If Startex has quoted you a price you may look at what they quoted you side by side with the detailed residential electricity quotes on this site.

Startex Energy offers several electric rate terms such as the 3 month plan, 6 month, 12 month, 24 month and 36 month. The rate goes up as you sign up for a longer monthly term. The reason the electric rate goes up on longer terms is due to the correlation electric rates have with natural gas in Texas. Did you know that most of our electricity in Texas is generated by Natural Gas power generation plants? Because of the reliance upon natural gas most providers buy a portion of the electric rate they sell to you on the natural gas futures market. These futures contracts go up in price as you go out on a longer term. If you have questions about the rate comparisons in the box to the left just give us a call at 1-800-971-4020. We pride ourselves in going above and beyond to make sure all fees and charges are disclosed with every electric provider in our comparison chart. You will know exactly what your rate is after viewing the list of electric rates and energy companies in the zip code tool to the left.

Electric Contracts Nothing Like Cell Phone Contracts

You may have determined by now that electric rate pricing is nothing like how a cell phone company determines to charge you for air time. Rewarding you for signing a longer term contract just isn’t a possibility as the electric company would be losing money to charge you less for a rate on a long term contract. Because of the confusion of monthly term electric contracts many people choose to get on a month to month plan. The problem with the month to month plans is you never have a guarantee for what the electric rate will be the following month. Startex Power is good in that the month to month plan they offer actually shows the last 2 consecutive months of where the variable rate has been at historically. Because Startex does not hide this fact you can feel safe to say that you would be getting on a rate built for the person who just doesn’t want to sign a contract. Some people don’t want to lock in for any length of time and this type of product allows that person to ride the wave of the market. The only issue with the month to month electric rate contracts is the premium you pay. You generally are offered a great 1st month rate and then the rate goes up to a premium that is quite a bit higher then the first month. For instance, Startex may give you a rate the first month for 9.1 cents kWh but then the 2nd and 3rd month rates would be 12.3 and 12.6 cents kWh.

This energy product is good for those only needing electricity for a short time because they will be moving soon or something of that nature. If you were to break a fixed term contract most providers will charge you some type of early termination penalty that is usually somewhere in the ballpark of $100. The month to month contract allows you to escape the contract with no fees. Of course, once your fixed term contract is up you are free to shop elsewhere but don’t cancel earlier or most providers will make you pay their termination fee.

If you would like to sign up with Startex Power’s month to month promotional electric rate or one of their many fixed rate energy products you can sign up via the promotional link below and receive their discounted electric rate.

Startex Power’s Discount Promotional Rate – Sign up here Note: We no longer offer Startex as a provider on our site

If you are just needing the best 12 month term fixed electric rate we recommend you sign up with Champion Energy’s promotional 12 month energy rate here – Sign up now

Spark Electric

Check rates with multiple Texas electricity companies in the zip code electricity comparison box to the left. You can compare what Spark Energy is offering you with several other electric providers.

You may call with questions to: 1-800-971-4020

Jan 22 2008

Spark Energy is currently advertising several different electric rates at a mid price range in comparison to some of the other competitive Texas electric providers. They currently have a 12 month rate at 11.9 cents kWh with no monthly service charge. This is an ok electric rate although Startex Power has lowered their 12 month term rates below Spark Energy’s prices. Startex Power has a slightly better 12 month rate for 11.7 cents kWh with no monthly service charge. To compare current updated rates from providers in your area please use the chart at the top right.

 

Champion Energy In Comparison To Startex

Startex has the best overall electric rate at 11.3 cents kWh in the Dallas area with no monthly service fee. As of Feb 23 2009 Startex Power offers the cheapest available electric rate in Dallas and Houston. Champion Energy used to be the best electric rate among the low cost electric providers offering promotional discount offers but as of February 2009 Startex Power is offering the best rate. Champion’s promotional electric rate offer has expired although you can sign up with competing suppliers with Startex Power by comparing rates using our tool on the top right of this page. The promo code with Startex is no longer available and since then other providers have come in to compete with this company. We no longer offer Startex on our website to compare with other providers.

Be sure to write down on your calendar 12 months from now to come back to this site to renew with the next lowest cost provider in Texas. We update the site frequently and try and always have the best electric rate going so you don’t miss out on an opportunity to stay with a low cost electric rate.

Those With No Credit History Or Bad Credit

If you are worried the electric company may try and ask for a deposit we have some suggestions on getting by with the cheapest deposit requirement. We have seen that Bounce Energy generally has the cheapest deposit requirement if you have been hit with this request before. We have a compare tool that shows you multiple prepaid companies to compare rates from and sign up with out the worry of a deposit or credit check. The tool is at the top right of this page. As an example of a provider that usually needs a deposit based on credit score, most traditional electric companies that check credit usually ask for $200 – $400 deposit if they don’t like your credit. Other electric providers want even more if you do not meet their credit standards. You may see this as a lot but TXU and Reliant mant times ask for a lot more than what Champion requires. Spark Energy used to waive the deposit amount if you sign up for auto bill pay by credit card or bank account but they have ended this practice. If Spark needs a deposit it may be for around $400 – $500 depending on what they think of your credit history. Startex Power is somewhere in the middle as far as what they come back asking for in regards to a deposit. The best thing you could do is try one of the many prepaid providers we show in our compare tool and sign up and keep that deposit money for groceries. At one time you had to try several providers and pick the lowest deposit you could handle and build up that year of utility bills paid in full before you could get away with not needing to pay an electric company a deposit. Bounce allows you a second chance if you have little or no credit.

Electricity Bid helps you find an electric rate and provider to save you money and keep life simple.

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