Whether it’s because of the economy, rising inflation, or simply a high cost of living, people are looking for any way they can to save money. One of the best areas to do this is with your monthly electric bill. However, because of how competitive the energy market is in Texas, finding cheap electricity is easier said than done.
This is because there’s often more to electricity rates than what meets the eye. The listed rate that you see when you sign up for a plan often isn’t the rate that you end up paying. If you’re serious about finding good electricity and want to know what to look for when enrolling into an energy plan, this is the article for you.
- Is Cheap Electricity Good Electricity?
- What Determines the Cost of Electricity?
- What Else Should I Look for in a Plan Besides Cheap Electricity Rates?
- Perks and Benefits
- Hidden Rates and Fees
- Customer Service and Availability
- A Company That Shares Your Values
Is Cheap Electricity Good Electricity?
The first thing that many people wonder when they stumble across a plan with cheap electricity rates is if it’s good electricity. With other products, a cheaper price usually means that it’s made with cheaper materials and isn’t as good as pricier options. With electricity and energy, however, cheap electricity is just as good as more expensive electricity.
The quality of the electricity itself doesn’t change with the price. However, the company you’re purchasing the cheap electricity from might not be as good or reputable as a slightly pricier energy plan from a better company. So, while the quality of the electricity doesn’t change based on price, the quality and competence of the company you’re buying it from does.
What Determines the Cost of Electricity?
There are a surprising number of factors that will determine what the cost of electricity is in a given area.
Time of Year
In general, electricity prices will be at their highest during the middle of summer and during the dead of winter. This is because more people are using their electric heating and cooling appliances to stay comfortable. Because everyone is using electricity at the same time, the demand is higher and the supply is lower, which drives up the price.
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Location
Depending on where you live in Texas, your electricity rates will be higher than in other areas. Abilene and Midland currently have the highest average electricity rates, while at the same time, Abilene and San Angelo have some of the lowest.
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The Energy Source
Where your electricity comes from plays one of the biggest factor in its overall price. Electricity from renewable resources such as wind power and solar energy tend to be more expensive than electricity from fossil fuels or nuclear energy.
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The Wholesale Cost
An important thing to realize is that the retail electric provider (REP) that you get your electricity from usually isn’t the company that’s creating it. They’re actually purchasing the electricity at wholesale value and selling it to you at retail price. Electricity rates will go up or down depending on how much it cost your REP to purchase electricity in the first place.
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Your Plan Structure
There are also tons of different types of electricity plans to choose from. Depending on how yours is structured, you’ll likely pay higher rates depending on how much electricity you use. It’s important that you dig into the details of your plan on your Electricity Facts Label (EFL) so that you understand how it works and how you can save money. Contact us at GoodCharlie if you want to enroll into a plan that’s straightforward and easy to understand.
What Else Should I Look for in a Plan Besides Cheap Electricity Rates?
There’s more that goes into a good electricity plan than a cheap rate. Here are some of the things to look for when enrolling into your next electricity plan.
Perks and Benefits
While the listed rate might be low on any given electricity plan, it often comes at a cost. Cheap electricity is often listed so low that the company offering you the plan can’t offer you anything else. At GoodCharlie, we offer a combination of affordable rates and outstanding benefits when you enroll with us.
As soon as you contact us and enroll into one of our electricity plans, you’ll gain access to our benefits package. There’s no waiting period! Our current benefits are 24/7 veterinary telehealth services for your pets (Video Vet), a $750 emergency pet fund for up to five animals (Emergency Fund), and the guarantee that we’ll send monthly donations to a pet rescue of your choosing on your behalf (Roundup for Rescues).
Hidden Fees
Another sacrifice that often comes with cheap electricity rates is that there are hidden fees snuck into the fine print of the plan. Hidden fees include early termination fees, delivery fees, startup fees, disconnection fees, and so much more. At GoodCharlie, we pride ourselves in being upfront and honest about the fees we charge. There’s a monthly base fee of $4.95, a $25 disconnection fee, and varying ETFs. That’s it! Transparency and integrity are at the top of our priority list.
There’s also a 5% late fee if you don’t pay your bill on time. However, you can eliminate this risk by enrolling into our paperless auto-pay program to ensure that your bills are always paid on their due date.
Customer Service and Availability
Customer service and availability is another area that often goes by the wayside when you enroll into a ridiculously cheap electricity plan. Because the rates are so low, companies are either short-staffed or hire customer service staff that aren’t located in your area and are unaware of your situation.
This can be extremely inconvenient in the middle of a power outage or when you have important questions about your electricity. Customer service is one of the many areas where GoodCharlie energy excels and separates itself from the rest.
A Company That Shares Your Values
Finally, you want to enroll into an electricity plan with a company that shares your values. If you’re a pet lover and a dog or cat owner, we can guarantee you won’t find a retail electric provider more aligned with your values than us. All you have to do is check out the benefits we offer to see how much GoodCharlie energy cares about dogs and pets.
We have a vested interest not only in making sure that you love your electricity plan and service, but also that the dogs of Texas are taken care of. It’s why we’re partnered with multiple pet rescues, and it’s also why we’re trying to make Texas the best place for a dog to live.
