The market for electricity in Austin is confusing with too many options to choose from. While it is not just the presence of so many electricity providers in the city that presents various challenges in the selection of electricity in Austin for customers, there are other reasons as well that you as a customer must be aware of.
The efficient and well-functioning of free markets, like the deregulated market for electricity in Austin, Texas, calls for transparency. And that is what the basic economic principle also suggests. Things must be clear, transparent, and unambiguous for the buyers. All the customers should have the same access to information so they can decide better and choose better. It works excellently in currency markets, stock, oil, and other segments where prices and other vital information is readily available to all.
But when we talk about the market for electricity in Austin or the entire state of Texas, things are different. Deregulation was advertised as unleashing free enterprise power. However, power markets turned out to be more like tainted glasses than transparent & clear panes. The market is, thus, murky and that starts from retail plans with unclear and confusing terms and pricing to wholesale markets. Bids aren’t transparent and that enables the biggest industrial and commercial power users an opportunity to game the system and ultimately push energy costs to households as well as small businesses.
Post deregulation, more and more energy providers forayed into the marketplace with several products and plans. Various top providers try to lure customers by advertising cheap electricity in Austin. While it’s absolutely amazing to have so many options, it results in immense confusion and difficulty when it comes to finally zero in on one plan from so many options out there. One of the biggest challenges in the selection of electricity in Austin is the availability of these options. Shopping turns out to be an overwhelming task, with prepaid plans, varying prices, fixed-rate plans, variable-rate plans, rewards, and term lengths.
Also, before you sign up for the so-called cheapest rates of electricity in Austin, we advise you to go through your energy contract. Before you switch your electricity provider, ensure to check whether you are already under a contract with your current provider. If you are, then check how long (months/days) are left on that contract. This will save you from paying an early termination fee. This information is available right on your electricity bill and, if you can’t find it there, you may call your electricity provider to know the contract expiry date.
Switching before the contract expires, your current energy contract may possibly outline an early termination fee. Although, as per the Public Utility Commission of Texas, customers in Texas can switch their electricity providers without paying an early termination fee in case they schedule it (switch) “no-earlier-than” 14 days of their contract expiry. Also, when you switch providers, you will be allowed to indicate a date when you want the switch to take place.
However, according to the Public Utility Commission of Texas, customers can switch providers without paying an early termination fee if they schedule the switch no earlier than 14 days before their current plan expires. When you change providers, you’ll be able to indicate the date you want the switch to occur.
Other challenges in the selection of electricity in Austin you may face include:
Your Electricity Usage: since energy costs and prices may vary based on your electricity usage, it is important for you to know your electricity usage first.
Your Preferred Term Length: there might be many reasons that influence your decision of preferred contract term length. Hence, it is advisable that you lock in the plan for electricity in Austin only for the period you will need it.
Choose and Decide your Electricity Plan Type: depending on your usage every month, you may choose from a fixed-rate electricity plan or variable-rate electricity plan.
The fixed-rate energy plans are most suitable for the households and small businesses that use more power during certain months of the year (such as during the hot and humid months of summer) rather than throughout the year. This plan turns out to be a money-saver for households and small businesses with moderate to low usage for many months of the year but high usage for a few months. You are charged based on your average consumption and, therefore, you save money when the usage is high.
The variable-rate electricity plans, on the other hand, require you to pay as you go. The price is not fixed in this case rather it is variable and keeps fluctuating as the market changes and rates for electricity go up or down in the marketplace. As a result, your electricity bill also reflects the same.
And, before you finally shop for electricity in Austin or elsewhere in Texas, don’t forget to read your EFL (Energy Facts Label). Your EFL will help you determine the energy price point a certain plan offers depending on your usage.
To be able to beat the challenges in the selection of electricity in Austin, you should go for an unbiased comparison of deals from multiple providers. The task may be difficult but it becomes easier with online energy aggregators such as ServiceDealz where you can shop for cheap electricity in Austin without being overburdened by unnecessary and promotional information flowing from all sides. All you are required to do is visit our website, enter your ZIP code to have the best electricity plans listed right on your computer/mobile screen, compare the options, and place an order. And, remember this comparison is totally unbiased and you can choose the plan that best fits your usage and expectations. Please do not hesitate to speak to our electricity deal specialists to find the cheapest electricity in Austin.
I hope this blog was useful. Please don’t hesitate to ask questions if you have any regarding electricity in Austin.
Disclaimer: The information above is only for the purpose of knowledge and you should always speak to the experts like those at ServiceDealz to be able to determine the best electricity plan for your home or office.
Blogger & Writer from Dallas, Texas
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