News Stations Notice Freaked Out State Of Residential Home Owners Facing Higher Electric Rates
News stations in Texas have spotted an increased anxiety level among residential electric customers who began shopping for a cheap electric rate when their energy contract expired in March. In March electric rates in Texas hit a 3 year historical high. Many people rememeber when electric rates were this high back in 2005 when Hurricane Katrina came through and wiped out some of our states energy infrastructure. Plants came off line and supply and demand issues caused Texas Power rates to spike to abnormally high levels. Over the year 2005 MCPE prices averaged over 12 cents kWh. Fixed electric rates in Texas are around 10 cents kWh and MCPE variable electric rates still average around 7 cents kWh. Imagine if MCPE rose to the levels of Hurricane Katrina levels. Fortunately Texas is not faced with a crisis like that of Hurricane Katrina and we have enough natural gas power plants and other power generation facilities to provide the needed energy production Texas home owners and businesses will need throughout the coming year.
Texas Electric Rates Have Dropped But Is It Just Temporary?
Electric Rates in Texas have dipped down and are now steady at lower levels but they look like they could possibly remain flat or hit a new high again in the next month or two. I ultimately believe they will head back down in the 8 cent a kWh range but when this will happen is anyones guess. Texas electric rate prices are just the same as a stock or commodity price. No one can really tell you what they are going to do and when they will come back down. The question you should ask is how long are you willing to wait? Texas Power prices can remain at above average prices for several months. If we have a milder summer then expected they could come down but even then other factors could potentially keep that from happening. Also pay attention to the fact that there are about 8 different factors that effect Texas electric rates and these have a compounded effect depending on which ones are happening at the same time.
What Is Everyone Else Doing About These High Texas Power Prices?
Sit tight Texas home owners and commercial businesses if you want to wait it out because it could be awhile before we see 8.5 cents kWh. If you have a high risk tolerance then you may be able to wait it out. For those residential home owners looking for a cheap electric rate you might want to try getting on a 3 month fixed rate with Startex Power and then try again in 3 months. If you just don’t want to deal with the headache of signing up for the short term then get on a 12 month electric contract and try again next year. 12 month fixed priced Texas electric rates right now are running at about 13 cents a kWh in Houston and a little cheaper in the Dallas area.