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.