Nations Power Prepaid Texas Electric Company Review

I discovered a new prepaid electric company opened up in Texas today called Nations Power. This company offers a fixed kilowatt hour rate as well as a variable pay what you can plan.

Regardless if you go with a traditional electric company that gives you 30 – 45 days to pay your bill or you go with a prepaid provider where you pay in advance I would choose the fixed rate every time.

Many electric companies will not hesitate to raise your variable rate on you beyond what you were expecting.

It is true not all variable rate plans are bad but to be on the safe side a fixed electric rate with Nations Power is probably the way to go.

The reason you would want to order electric service through a prepaid electric company like Nations Power is if you know you will not be able to afford deposits by other providers.

The Texas government does offer assistance to low-income families for deposits and rate subsidies but for most of us the hassle in qualifying for these assistance programs is simply not worth it.

If your credit is okay or bad you will likely have to pay a deposit with most all the Texas electric companies.

For instance, if you call TXU and Reliant they will likely both ask for a deposit ranging from $200 – $500 depending on how bad your credit is.

Of course if you have good credit no deposit is needed. Now lets say you have called these two large electric companies, TXU and Reliant, if you go on to call Bounce, Green Mountain, and Texas Power they will likely ask for a deposit as well.

Why would all these providers ask for a deposit? They all work from a credit checking service to manage their risk. There is about a 50% customer default rate below a certain credit score number and what score this is remains a tightly held secret.

There is simply no way of working with a provider that bills you 30 days out for service in negotiating a deposit and that is why a company like Nations Power can come in handy.

By going with a prepaid electric company you avoid the deposit but will sacrifice on price. Most prepaid electric companies have higher prices than traditional electric companies that check your credit.

Nations Power is based out of Allen Texas and has recently launched their company as a Texas prepaid electric provider. You may reach them at (866) 356-6850.

If you have used this prepay electric company please give our community feedback in a review format in the comment section below.

Interesting to note, the company with the same PUCT license number is Catalyst Energy Inc. which is a PA oil and gas exploration company. The activities of Catalyst encompass the exploration, development, production, transmission and processing of oil, natural gas and liquid hydrocarbons. Since Texas relies on natural gas for the production of much of the electricity it is worth noting that Catalyst now has a stake in both the production and retail aspect of natural gas. There is often an inverse relation to the cost of producing electricity using natural gas and the actual cost of natural gas. If these two factors of natural gas price and “heat rate” are managed well there can be a big payoff in being in the production and retail side of natural gas. Most important is to not gamble to much in the process of doing both.

Reliant Energy’s Parent Company NRG Energy Gobbles up another Provider, Energy Plus

I found out today that Reliant Energy’s parent company NRG Energy now owns Energy Plus. A year or two ago Reliant’s parent company NRG Energy bought Green Mountain Energy and now with Energy Plus NRG Energy has gobbled up a couple of the top marketers in the retail electric provider space.

I believe Green Mountain Energy has done the best job of differentiating themselves from their competition which makes their purchase by Reliant Energy’s parent company NRG Energy a smart one. Energy Plus marketed their service through places like the government student loan rewards program Upromise and through Best Buy in several deregulated states including Texas.

I remember reading that Energy Plus was one of the fastest growing retail electric providers in the country and it likely has to do with how aggressively they worked out partner joint ventures with companies like Best Buy. I personally have received at least 3 different mail outs coming from Best Buy to switch to Energy Plus.

Here you have an old school company like NRG Energy buying up good talent in two separate buy out deals in which both companies have shown exceptional skill at leveraging the power of joint venture partnerships and brand differentiation.

When it comes to price Energy Plus has continuously been scolded online by their past customers for advertising that they are “competitive” and yet the customers standard complaint is that they pay more with Energy Plus than they did with the company they were with previously.

Through further research we have found that the reason for these complaints has simply to do with the type of plan many people switch to when choosing this company. The popular plan they advertise is a variable rate plan and so there is no guarantee how long the price will remain competitive and so it is easy to see why people turn on this new provider when their electric bill goes way up.

We are interested to see if NRG Energy (the parent company of Reliant Energy) changes the marketing tactic currently being used by Energy Plus or leaves things basically the same.

Energy Plus Holdings LLC became owned by NRG Energy on September 30 2011 and it is reported that they will not have any technical or managerial qualification changes but will have the ERCOT financial requirements handled by NRG Energy.

Tips for Selecting a Texas Energy Provider

Independence Day Promo Electric Rate From Bounce EnergyEvery May, our contract with our Texas energy provider comes up for renewal, and we have the power to choose whether to stay with our current provider or switch. In looking for a new provider and/or plan we not only want a good rate, but we first have to decide if we want a contract and what kind, and if we want to use green energy, all the while paying close attention to possible promotions and rewards programs. Here is the process we usually go through.

In order to choose a provider, it is best to start with a plan. The two most common plans are variable rate and fixed rate. With a fixed rate plan you’ll pay the same rate for electricity throughout the term of your contract (which is typically 2 years). The price can change only to reproduce actual price changes that are allowed by Public Utility Commission rules due to changes in law or regulatory charges. This plan is great for people who have a household budget since the rate stays the same, which protects you from rising energy prices; however, if market prices fall you have to wait until your contract is over to switch to a lower rate. If you think you might want to discontinue service after a short period of time, look for a company that does not have contracts or offers short term contracts. Companies that have contract periods often have a minimum term and if you cancel your service before the contract period ends, you might have to pay a penalty.

Variable rate, or often referred to as “month-to-month”, plans have no minimum contract period and are based on current energy market conditions. With this kind of plan, the rate you pay can fluctuate depending on the changes in the electricity market. Which means you can benefit from lowering energy rates and could help you to save on your energy bill. However, just as this type of plan allows you to save money when market prices fall, it could also have a negative affect if market prices rise because so would your electricity rate. For some people, dealing with constant changing electricity rates can be stressful so a fixed rate works best for them. On the other hand, there are others who like being able to always get the best rate and don’t mind searching for it, making a variable rate plan their best option.

Next is to choose between a non-renewable (standard) and a renewable (green) plan. You can check a Texas energy provider’s Electricity Facts Label (EFL) to see if their plan produces electricity from renewable resources such as solar, hydroelectric, landfill gas, biomass, geothermal, or wind. EFLs allow you to easily compare what each company has to offer to find the best fit for your energy consumption and budget. Each label contains the following information:

  • Electricity Rate: This is made up of the electric company’s average price per kilowatt-hour (kWh) for 500 kWh, 1000 kWh and 1500 kWh, as well as a possible monthly customer service charge and seasonal pricing. Rates can differ depending on the number of kilowatt-hours so it’s important to look at your past usage. With some companies the more kilowatt-hours you use, the lower the rate will be.
  • Contract Terms: Some companies have minimum terms and will charge you an early cancellation fee, while others may not require a contract.
  • Power Generation Sources: The electricity provider should list from what resources the electricity is produced (coal, natural gas, renewable energy, etc.) The percentages will be graphed to compare them to the average usage for electricity generation statewide.
  • Emissions: In this section companies provide details on the types and percentage of emissions they create per kWh of electricity generated. The energy provider’s percentages will be graphed to show if the emissions are better or worse than the Texas average. This might be an important section for you if you’re interested in decreasing your carbon footprint.

Once you’ve decided which plan works for you, then the next step is to compare Texas electricity companies. You can do this by going to ElectricityBid.com where you can compare prices and ratings. Just enter your zip code and then pick the kind of plan you want. You will be able to see different Texas energy providers and their company rating, different plans offered, cancellation fee, if electricity is produced from renewable or non-renewable resources and the terms and rate for each plan. These websites will also show you promotions and incentives offered by each company and if they have a rewards program.

Lastly, review and compare all the possible incentives and rewards programs offered. Some companies offer rewards programs to their customers such as cash back and gifts. For example, Bounce Energy is currently rewarding its customers for paying their bills on-time. Customers who pay their bill on-time for 6 consecutive months receive their choice of 2 movie tickets or a free companion airfare ticket and also gain access to Bounce Energy’s VIP Customer Service line. The longer you pay on time, the more you get in return. Power providers might also offer incentives or promotions for signing up with a new plan such as gift cards, airline miles, charitable donations, or better rates if you sign up online. For example, Bounce Energy’s Express Move plan. This short term fixed rate plan makes moving much easier by not only turning on your electricity, but Bounce Energy will submit your USPS Change of Address form, add your name to the Do Not Mail and Do Not Call lists, give you free identity protection service and give you either a $25 Walmart or Home Depot gift card. Bounce Energy’s Terrific 12 plan gives the customer their choice of $25 gift cards to Target, Wal-Mart, GAP Inc., Shell, or a $25 bill credit.

As you’ve probably seen, there are many Texas energy providers and plans to choose from but by doing some research you will be able to find one that is right for your electricity needs and budget.

Online Resources
http://powertochoose.org
http://www.electricitytexas.com

Bridgeport Texas Electricity Rates and Companies

In order to to compare electricity rates in Bridgeport Texas you first need to compare a list of retail electric providers that offer reputable contracts. Some Bridgeport Texas electricity companies will offer what appears to be a good cheap rate but fees and charges are hidden in the contract details and terms of services.

The question to consider is why do these disreputable electric providers in Bridgeport Texas hide these fees from their advertised rate? They could just as easily bundle in these charges and fees in their advertised rate but they don’t in order to sucker in more customers.

We work much differently than providers like these. Our goal is to educate Bridgeport electricity customers in order to assist in achieving for them the cheapest residential electric rate available.

The electric ompanies in our Bridgeport TX electricity comparicon chart offer rates that have all fees and charges bundled into the rate. Taxes are not included in the rate although this is industry standard and makes up a small portion of the overall rate.

When comparing electric rates it is also important to avoid choosing a variable electric rate unless it meets your needs. Variable electricity rates are subject to change from day to day.

There is no price stability with a variable price because it can go up one month and down the next. The times when it makes sense to choose a variable changing price for your electricity service is when you will be living somewhere short term.

A variable rate offers a no commitent contract allowing you to leave at anytime without paying an early termination penalty.

A fixed rate locks you in for a certain period of time but the positive offered is price predictability. Your electric rate in Bridgeport will remain the same for the entire term of the electricity agreement.

I recommend comparing the 6 month or 12 month fixed electric rates in our comparison chart. This way you will not have to worry about going shopping for a cheaper electricity price everytime your rate goes up in price.

You can sit back for 12 months and then revisit the shop and compare process. To begin ordering your electricity service in Bridgeport Texas online just type in your zip code in our comparison box and click on “compare rates”.

The electricity providers available in the chart from Bridgepor will appear and you can choose an electric provider that offers the rate, plan, and terms of service that best fit your needs.

If you would prefer to call and speak with a Bridgeport Texas energy consultant please call us at 1-800-971-4020

In Texas You Have the Right to Choose an Electricity Company

If you are relocating from out of state or are moving to a different Texas city from places like Austin, El Paso, Garland, Plano, El Paso and a few other areas you may be happy to know that you may now choose your electric company. Texas is the most competive electricity market in the world and because of this it has helped in lowering electricity rates for residential and commercial electricity service customers.

To begin shopping for residential electricity rates and comparing electric companies just use our comparison chart at the top left of this page. You will need to enter in your zip code and a list of electricity rates and providers will appear. Pick the cheapest provider based on either a fixed or variable term.

Make note that a variable price may be lower but it is subject to go up in price after the first month. This is because you are not locking in your electricity price when choosing a variable rate.

For most people a fixed electric rate makes more sense because you will have a predictable electricity rate and you will know what the price will be each and every month.

The choice in Texas is called the Power to Choose because you have the ability compare over 20 different competitive electricity providers and find the cheapest rate.

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

Get in touch with us!