Texas is one of the biggest states in the country and one of the most important. In addition to being the energy leader in North America, Texas also has deregulated energy and electricity. Thanks to these various reasons, there are more than 130 retail electric providers in Texas, all attempting to gain your business.
However, before you can choose the best electricity company, it’s important to decide what type of plan you’re looking for. Once you know the type of electricity plan you want, you can then look for companies that offer it. If you’re at your wit's end with this process, you’ve come to the right place. Our goal is to provide you with a comprehensive list of the different types of electricity plans in Texas and how to choose the right one for you.
What is the Best Energy Plan in Texas?
- Different Types of Electricity Plans
- What to Look for When Choosing Your Electricity Plan
- Which REP Has the Best Fixed-Rate Electricity Plan in Texas?
What is the Best Energy Plan in Texas?
The first question that most people think of when they’re talking about choosing an electricity plan is, “Which one is the best?” Unfortunately, there isn’t a single electricity plan in Texas that’s perfect for everyone. You see, electricity plans are structured in different ways and have various perks, benefits, and price points. In order to choose the best energy plan in Texas, you have to base your decision on your personal needs rather than what you read in a Google review.
Different Types of Electricity Plans
The first step to choosing the best plan for you is understanding the different types of electricity plans.
Prepaid Plans
Prepaid electricity plans are similar to prepaid phone or internet plans. With phones and the internet, you pay at the start of each month for a set amount of data. Prepaid electricity plans work the exact same way.
At the beginning of each month, you prepay for the electricity that you plan to use in the coming month. These types of electricity plans are convenient in some ways because they don’t require a commitment, credit check, or deposit on your part. However, the rates for prepaid electricity plans tend to be much higher than traditional plans and they aren’t a good long-term option.
Variable-Rate Plans
If you’ve heard of variable-rate mortgages or loans, you understand how variable-rate electricity plans work. Essentially, the rate you’re paying can change from month-to-month depending on what the energy market does. There’s a chance that it could go down and you end up saving big, but the more likely outcome is that your rate will skyrocket.
Flat-Rate Plans
Flat-rate plans are one of the newer types of electricity plans being offered in Texas. With a flat-rate plan, you pay the exact same amount of money each month regardless of how much electricity you use.
For example, let’s say that you sign up for a flat-rate plan for a cost of $400 per month. Weather you use 100 kilowatt-hours or 10,000 kilowatt-hours of electricity doesn’t matter. Your flat rate will stay the same.
However, before you get excited about unlimited electricity, you should understand how power companies bill for flat-rate electricity plans. They will take the monthly average of electricity use for the past several months up to a year. However, they don’t base your flat rate on your average usage. They will add to your monthly average and base their price on that number to ensure that they never lose money.
Flat-rate plans seem like a good idea at first, but they end up costing big bucks down the road.
Fixed-Rate Plans
Fixed-rate plans are the most popular type of electricity plan in Texas. With fixed-rate plans, you enroll in a term-length contract that’s usually from 12 to 48 months in length. During that time, your electricity rate doesn’t change, regardless of what the energy market does.
Fixed-rate electricity plans also happen to be the premier plan offered by GoodCharlie Energy. Contact us to learn more or to sign up today!
What to Look for When Choosing Your Electricity Plan
There are a number of things to consider when choosing your electricity plan, but here are three of the main ones.
The Company Offering the Plan
One of the first things you should look at when considering a plan is the company that’s offering it. In Texas, there are dozens of websites and companies that offer to find your electricity company for you. However, if you decide to go this route, it’s important that you do a bit of your own research and look into the company in question.
Are they reliable? What kind of benefits do they offer? What do their reviews say? You should answer each of these questions before enrolling into a plan.
A Type of Plan That Fits Your Needs
You should also make sure to choose the type of plan that fits your needs. In most cases, that ends up being a fixed-rate electricity plan. Fixed-rate plans tend to have the best rates and the most benefits in comparison to other types of plans. You can also base your plan on your usage and save money when necessary.
Perks and Benefits
Finally, you should look at the list of perks and benefits that the electricity company offers. Some companies will offer free nights and weekends, while others will tempt you with gift cards and a free smart thermostat. Ultimately, the perks and benefits should be ones that will benefit you in the long run and that you’ll be able to use.
Which REP Has the Best Fixed-Rate Electricity Plan in Texas?
As with most things, the best electricity prices are typically offered by the best companies, which are REPs with your interests in mind rather than just their own. GoodCharlie Energy is one of those few companies. While we might be a new REP, we have years of experience in the world of Texas electricity. We also have the mission of looking out, not just for you but for every member of your household, including your dogs.
In fact, we offer our customers a pet emergency fund of $750, 24/7 vet video access, and a promise to support local shelters. Our goal is to provide you with the best electricity rates and service in Texas and make sure that dogs in Texas are safe and cared for. If you want the best fixed-rate electricity plan in the state and care about dogs as much as we do, look no further than GoodCharlie Energy.
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