But competition didn't necessarily end up cutting prices, according to the report. One contributing factor is confusion among customers as they try to choose among scores of retail electricity providers and the overwhelming variation of plans, leading many to just stick with familiar companies rather than look for better deals, according to the Texas Coalition for Affordable Power .
Customers can find deals in competitive electricity markets if they take the time and effort to look at web sites such as powertochoose.org, the official comparison shopping site of the Public Utility Commission. The study cited a PUC survey of retail electricity offerings in Houston that showed nine deals in March that were lower than the regulated price of electricity in San Antonio.
If you live in the greater Houston area, there are over 60 different energy suppliers competing for your business. Many of these providers have websites that are confusing and difficult to navigate, their rates buried in misleading advertising and dense jargon. Who has the time to sort through and keep track of options across all these different sites?
As a renter, you’re likely concerned about getting your electricity contract’s start and end dates to match your lease term as close as possible. In most cases, your electricity provider will offer flexible start dates and some even offer same-day connections. If you can’t line up your electricity contract exactly with your lease term, it’s okay. It’s better to choose an electricity plan with a slightly longer contract term than your apartment lease if necessary. If you move and provide proof of a change in address, your electricity provider cannot charge you an early termination fee.
Lots of sites can say 'CHEAPEST ELECTRICITY IN TEXAS!', but only Texas Electricity Ratings gives you the tools to know you're getting a great company to go with the cheap rate. Because what good is a cheap rate if your bills get screwed up and your payments get lost? We've collected thousands of reviews from customers just like you, who need to save money on their electricity bill but don't want the headaches and hassles of a fly-by-night electricity supplier.
Consumers in Houston, Dallas, Fort Worth and Corpus Christi were promised bargains on electricity when the Texas Legislature deregulated the electricity market. But 16 years later they're still paying more for electricity than their counterparts in cities Texas lawmakers exempted from deregulation such as Austin and San Antonio, according to the Texas Coalition for Affordable Power which analyzed federal electricity pricing data.
Prior to electricity deregulation, power was supplied by regional utility monopolies that could own and operate all three parts of electric service. In response to a growing demand for competition in the industry, spurred by the success of deregulation in the airline and telecommunications industries, Congress passed the National Energy Policy Act in 1992 which created wholesale electric markets that allow for open access of generation.
Since 1996, when the energy market was opened up to competition, UK consumers have been able to switch energy suppliers to find a cheaper gas and electricity deal. Previously, Ofgem did set a maximum price for energy; but now Ofgem only regulates the market as a whole — that means creating a regulating schemes to support vulnerable households and more.
Texas deregulated most of the state's electricity markets in 2002, a move aimed at lowering electricity costs by letting consumers choose their own electric power providers and their own plans. Some parts of Texas continued to be regulated, including those that get power from municipal utilities, electric cooperatives and investor-owned utilities that operate outside the state's primary power grid.
A lot of these financial structures ultimately boil down to being a form of government guarantee, which means that they can’t be scaled up to “solve” countries’ power problems because the governments cannot carry all the liabilities. Countries try to introduce the private sector into power generation precisely to reduce such guarantees, which then end up returning through the back door in the form of government support.
But, again, the concept isn’t difficult. Let’s use the city of Joliet as an example. Joliet’s traditional utility for the 60435 area code is Commonwealth Edison. As of late February, its price to compare is 7.195 cents per kilowatt hour (kWh); at this writing, four plans from ChooseEnergy.com featured suppliers with lower rates, including one that’s 18% cheaper and uses all green energy.
If you’re on a fixed rate tariff with your current supplier, check to see if there’s an exit fee for leaving the contract early. If there is, you’ll need to factor this cost into your price comparison as it could swallow up some of the potential savings. If you can supply your tariff name when you get a quote, we can take your tariff into account when showing you the savings you could make.