Thanks to deregulation, Texas
consumers are able to choose from a variety of utility providers. This gives
residents a great way to find cheap electric companies to cut down on monthly
expenses. You can easily comparison shop to find affordable electric prices in
your area. The first thing to do is get a copy of your current electric bill.
Here you’ll find the rate that you’re paying, along with any other fees or
charges that recur on a monthly basis.
Electric companies are required
to offer an Electricity
Facts Label, EFL. The EFL shows prices and services so consumers can make
an easy comparison between different electric providers. To find cheap electric
companies, look for those with the lowest rates per kilowatt hour. These rates
can range from 8 cents to 25 cents per kilowatt hour. This may seem like a very
wide range. While it may seem as though the lowest rate is obvious, there are
other factors to consider. Some companies offer low rates but add on extra
charges each month for a variety of processing fees, for example.
One way to find cheap electric
companies is to look for bundle prices. These are prices that include all
service fees and rates so you can see your total monthly bill more easily. If
bundles aren’t available from a provider you will need to look more closely at
the fine print to learn what, if any, additional charges may be incurred. If
you don’t use much electricity, be sure that the company doesn’t have a minimum
monthly fee. If so, you will have to pay a certain amount, even if you use less
electricity.
Electric companies require you to
sign a contract. The contract is usually for a year, but can be longer or
shorter than that. If you don’t mind signing a two year contract, you may be
able to get lower prices. Cheap
electric companies will offer very low rates if you agree to keep their
services for a couple of years. The only drawback is that if you find you want
to switch providers before the contract is over, you’ll have to pay a fee. Another
choice that can get you lower prices is to opt for variable rates. A variable
rate package usually offers low rates; however, they can increase over time.
When considering the best prices, be sure to choose a company with reliable
service.
