The transition from living at home to moving out on your own is one of the most exciting but difficult transitions you can make as a young adult. You’ll have to face many changes and challenges that you didn’t give a second thought while you were living at home. Among these challenges are the financial struggles you’ll face with the monthly bills that accompany moving into your own house or apartment.
On top of the bare basics like groceries, your phone, rent, and gas, you also have to think about insurance, car bills, wifi, and electricity bills. If you don’t want to go broke while living on your own, finding ways to save money on these things is crucial. One of the main areas you can save big bucks each month is with your electricity bills.
Texas is unique in many areas, and the way its electricity market works is no exception. Texas is one of several states in the country that has deregulated electricity, which means you have the power to choose your electricity provider. Because there are over 120 different electricity providers with different plans and prices, you have the opportunity to find a plan with low rates for lower electricity bills.
Deregulation has led to a highly competitive energy market in Texas. It has also led to an average electricity rate roughly two cents lower than the national average. Although deregulation is a mixed bag regarding the pros and cons, there's no denying that it gives you the chance to have cheaper electricity bills.
While the main thing that everyone looks at when signing up for an electricity plan is the rate, there's much more that goes into choosing the right plan.
One of the biggest factors that will go into your electricity bill is the type of plan you choose. There are variable-rate, prepaid, flat-rate, and fixed-rate plans. Overall, the most popular and affordable types of electricity plans tend to be fixed-rate plans. It just so happens that fixed-rate plans with competitive rates are our specialty at GoodCharlie Energy.
Because of the competitive nature of the Texas electricity market, companies are forced to find sneaky ways of making extra money. One of the ways they do this is with hidden fees, of which there are many different kinds.
Delivery Fees
Delivery fees are enforced by all electricity providers and go towards paying your local utility company for getting electricity from a power plant to your home. While everyone charges these fees, not everyone reflects them in the electricity rates they advertise.
Another tricky fee companies like to use is minimum usage fees. These fees are enforced when you don’t use enough electricity in a given month and tend to blindside people who think they're about to save money by using as little electricity as possible.
Most companies that offer fixed-rate electricity plans for a set term length have early termination fees. These fees get enforced if you opt-out of your contract before the end of your term. For example, if you get tired of your 24-month electricity plan in month 8 or 12 or whatever, you’ll have to pay a fee to exit your contract. Early termination fees can be between $100 and $400, depending on the structure of your plan.
One of the sneakiest fees that electricity companies have is customer service fees. These fees are enforced whenever you call customer service because you have a question, power outage, or other concern. Customer service fees are a true travesty because they should be part of the package when you sign up for your electricity plan. At GoodCharlie Energy, we pride ourselves on having excellent customer service without the pain of hidden fees.
Tiered rates are where you pay a different rate depending on the electricity you use. This applies mainly to fixed-rate electricity plans, and here's how they work.
Let's say you sign up for an electricity plan with an advertised rate of 13 cents/kWh. However, here's how the plan is structured.
|
Per 500 kWh |
Per 1,000 kWh |
Per 2,000 kWh |
|
20 cents/kWh |
17 cents/kWh |
13 cents/kWh |
Because tiered rates are a simple fact of life with your electricity bills, it's essential to find a plan with small gaps in their different tiers, and list their rates where it's easy to see. GoodCharlie Energy has tiered rates, but lists them for everyone to see and doesn't have big gaps in our tiers.
Finally, the perks and benefits that your company offers could be the difference-maker in your electricity plan. When you don’t live in an area where low electricity bills are an option, choosing a plan with good perks is huge. Here are some benefits you’ll get when you sign up for an electricity plan with GoodCharlie Energy.
The first perk we offer when you contact us to sign up for a new electricity plan is 24/7 access to licensed vets in case of a pet emergency.
We also offer a pet emergency fund to the tune of $750! Dogs and pets are at the core of what we do at GoodCharlie, and it's our goal to help you keep your furry companions safe.
Additionally, GoodCharlie will round up your monthly electricity bills and donate the proceeds to local pet charities. Don't worry, the donation is coming out of our pockets, not yours.
While many of our benefits are geared towards helping and protecting pets, we want to keep our human customers happy as well. Our contracts don’t have hidden fees but they do have limited tiered rates that are easy to see and understand.
Electricity bills for Texans are an average of $140 to $150 for residential electricity plans. However, by contacting us and signing up with GoodCharlie Energy, you have the chance to save money and help a good cause in the process.
In addition to finding the right plan with good benefits, there are plenty of ways to lower your monthly electricity bills.
While doing all of these things is great for lowering your electricity bills, the best way to save money and make a difference is to contact us at GoodCharlie and sign up for a new electricity plan.