You’ve Got the Power! – How to Pick Your Electricity Plan When Price Isn’t Everything

BY Allconnect Inc | Sun Apr 03, 2016
You’ve Got the Power! – How to Pick Your Electricity Plan When Price Isn’t Everything

Sure, price-per-kilowatt-hour is always an essential number to keep in mind, as it is necessary for it to fit within your monthly budget. But it’s also important to consider the price of your electricity on a longer-term basis. For example, is it better for you to pay your bill on a month-to-month schedule because your life demands the flexibility? Or, is it smarter to commit to signing a contract with a more extended term – anywhere from 6 to 24 months – for the stability and regularity of the price? Signing on for a longer term of service may net you some savings down the road, but if, for whatever reason, you need to slip out of your contract, what’s the early termination fee going to be? These are options obviously worth weighing against one another.

On Paying Attention to Pricings and Payment Plans

Texas has always been a leader in energy production through its reliance on oil and natural gas. Now, it is turning to its abundance of wind energy to maintain its place as America’s energy leader. Even Texas oil billionaire T. Boone Pickens has recently announced plans to build a $10 billion wind farm capable of producing enough energy to power a small city. While not everyone can spend billions of dollars to build their own wind farm, consumers can do their part by purchasing green energy right here on ElectricityTexas. Next time you turn on a light or heat up a stove, remember that the electricity might just have come from the whirling blades of a wind farm in Texas.

In addition to the varying contract term lengths, our providers also offer a few other options for actually paying the monthly bill itself. There’s the standard option to pay a variable electricity bill on a monthly basis, but you also have the option to prepay your bill – in a “set it and forget it” fashion – or to agree to an indexed plan, which enables you to pay nearly the same amount every month for your power consumed. Only certain options are available in certain areas and from certain providers, so be sure to review and compare what they’re all offering.

Incentivized Energy – Not All Plans Are Created Equal

With the deregulation of the Texas energy market, power providers now have to work harder to get your business – which translates to greater benefits for you as the consumer. So, for example, let’s say that you live in a town where all the electricity price offerings are about the same from multiple companies. In order to secure your business, each provider company is now going to offer an additional incentive to attract you to them in order to edge out the competition.

As a result, some providers offer a special, discounted introductory rate for new customers for one or more months; or monthly, cash-back bill credits if you hit certain usage benchmarks; or rewards and points programs for remaining as a loyal, responsible, paying customer. Other providers offer no- or low-charge service visits to your home, or no early-termination fees, or refrain from requiring security deposits or credit checks. Some offer even offer straight gifts – like a new, free Nest smart-home thermostat for regulating the temperature in your house. And a handful of providers offer a sort of “free nights and weekends” bonus where – for certain times of the day, month, or year – electricity is provided to you at a reduced rate because it is not in great demand in your area.

Fueling the Green Machine – Traditional vs. Renewable Energy Plans and Options

A number of our partner providers now offer renewable energy – such as wind, solar, and hydroelectric – as the sources from which they’ve drawn to produce electricity for you. And if keeping our state and our planet clean is something you’re passionate about, then we offer you another criterion to use for picking out the best-fitting energy provider for your home.

Nowadays, not only can you get a better sense for how eco-friendly your power providers are – insofar as how they are being good stewards of the environment by mitigating their carbon footprints – but you can support and further encourage their environmentally-responsible efforts by choosing the green energy options and plans they’re offering. You can even discover what percentage of the energy that your home is consuming has come from renewable sources – which can be anywhere from 5%-100%, depending upon the provider. And as more and more of our partner providers begin adopting this practice, it provides you with more choice for how you want to receive and consume your energy.

Beyond that, our state and federal governments also offer tax credits and rebates to these energy companies for using renewable resources to generate electricity, and they, in turn, pass these savings on to the consumers who want to make greener energy choices. As Texans, “going green” is now easier and more painless than it has ever been before.

So click around and see all that your available providers are offering to bring you to their doors. Note the differences and advantages of each, and then get in touch with us to setup the best plan for your needs. Remember, you’ve got the power of choice here, and our energy partners are always eager to please their consumers by providing the electricity they desire as they both need and want it.

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