Texas was one of the first states in the nation to deregulate their energy industry. Because of that, many companies began offering lower rates and better services to business and households all across the state. Residents and business owners that have switched to alternate Texas electricity providers have been able to significantly lower their monthly utility bills. Many energy consumers have had the ability to choose between companies that generate their power using fossil fuels, or renewable resources.
For well over a century, the state of Texas fully regulated their energy industry. In effect, they created a monopoly where businesses and households could only purchase electricity at a fixed rate. These rates were set by the state and the electric company. As a result, the energy companies made huge profits, while making it impossible for the energy consumer to shop around.
Fossil Fuels and Renewable Resources
In 2002, when deregulation of the energy industry took effect, dozens of Texas electricity providers instantly began generating their own electricity to offer to the masses. Some of these providers have chosen alternative methods for generating power including using wind fans, solar panels, geothermal processes, biofuels, landfill gases, and other creative, renewable resource methods. Other providers generate electricity created by burning fossil fuels.
Now every household and business has the power to choose exactly which Texas electricity providers best suits their unique energy needs. They can select from a variety of options including purchasing electricity at an index rate (a formula rate), a fixed rate (a set price) or variable rate that fluctuates throughout the day, or months of the year.
Many of the alternate Texas electricity providers have begun using smart meters that can accurately monitor exactly how much energy is being consumed in real-time. The smart meter sends this information back to the provider. With this information, the Texas electricity providers can offer lower rates during off-peak times of the day, which generates huge savings for the energy consumer.
The process of switching is easy. It requires a simple application, which takes about seven days to complete. There is never any interruption in service, or reason to disconnect the power just to make the switch. Typically, it is not required to change electricity meters, and the same lines that are bringing the power from the local utility company will bring energy from the new supplier.
Lower your energy costs with comparison shopping and the ability to choose the best pricing.
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Now every household and business has the power to choose exactly which Texas electricity providers best suits their unique energy needs.
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