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Business or commercial electricity refers to the electric service for business operations such as hotels, car dealerships, warehouses, gas stations, etc. Electricity that is not purchased for residential use is actually commercial electricity. The commercial landscape of Texas is diverse and inspiring. The state is home to export houses (that generate revenues in billions). The state is home to some 200,000+ healthcare companies, about 300,000+ scientific/tech/professional firms, and others. The major industries here include defense, aeronautics, energy, entertainment, agriculture, and tourism.
The 2nd largest in the United States, Texas economy has a gross state product of approximately $1.803 trillion (as of year 2018), making it the second largest in the U.S. As per the statistics, the state generated about $1.803 trillion and GDP per capita roughly $62,962 as of 2018. Many major companies are headquartered in Texas some of which have found space on the Fortune 500 list as well.
The state is home to many medium-sized enterprises as well. These types of companies typically employ around 100 to 1000 employees. On the other hand, smaller businesses have hardly 100 employees. Texas is emerging as one of the greatest American states to start a small business, with Houston, Austin, and San Antonio being few of the most sought-after in this regard. Small businesses in this state include restaurants, bookstores, bakeries, and retail.
Since Texas energy market became deregulated in the year 2002, more than 80% of the state (both residents and businesses) has taken necessary steps to ensure all users have access to cheaper electricity. Energy deregulation has resulted in competition within the energy market itself. If we talk about business consumers, this competition facilitates customer choice.
Before energy was deregulated, all elements of energy were under the control of utilities – right from generation to distribution. As a result, customers had to face many challenges and these challenges were even bigger for commercial consumers. Due to limited options, commercial energy rates used to be quite high as utilities provided energy to businesses based on the area customers (businesses) had little choice in terms of commercial energy rates or plans.
To ensure electricity rates are both reasonable and fair, utilities across the state divided their business into various elements. This resulted in multiple advantages for businesses since the electricity supply element is no not a utility-only driven product. Deregulation has allowed REPs (Retail Electricity Providers) to enter the Texas energy market and extend cheaper commercial energy rates to business customers.
Business Energy Comparison in Texas
Texas Business Retail Electricity Providers
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Feel free to call us and talk to our business electricity experts for assistance.