For the last few days we have seen electric rates hover around the support level of 7.7 -7.8 cents for the 12 month fixed rate term. The Texas energy rate has hit this support level several times in the past year and shows signs of bouncing back off it. Since we are sitting at the bottom of the market right now it would be wise to lock in on a rate plan while we are still at the bottom. If rates were to come off of this support level they could remain above it for 1 week, 1 month, 6 months or even a year. There is no point in missing out as we cannot predict how long it will be before electric rates come back down again to these levels if they were to go up in the next few days. The winter approaches and the first signs of a harsh winter could send electric rates back up near the 10 cent per kWh range.
Learn more about Texas Electricity at Electricity Bid.com