Gexa Energy and Frontier Utilities currently offer the cheapest electricity in Texas. The cheapest electric companies in Texas right now are Frontier Utilities, Gexa Energy and 4Change Energy. With basic 12- or 24-month fixed-rate plans, this electric service provider offers some of the cheapest electricity rates in Texas. While their programs require a deposit, their cancellation fees are low.
Express Energy offers traditional and renewable energy plans using solar and wind energy. Some of the most popular representatives in Texas are TXU Energy, GEXA Energy and Express Energy. The fine print on many electricity plans sold in Texas can mean that your average electricity rate can vary significantly from month to month. When selecting an electricity provider in Texas, it's important that you understand the regulations of the Texas Public Utilities Commission and any charges associated with your new electricity plan. These guidelines ensure that customers receive accurate billing statements that reflect actual consumption without hidden charges or misleading promotions, while requiring representatives to give customers 14 days' notice before any change in electricity rates or contract terms.
By using these resources and staying informed about the ever-changing Texas energy market, you'll be better prepared to make smart decisions when selecting the best electricity plan for your needs. Transunion uses a Vantage score and Equifax uses an exchange risk score, while some Texas electric companies use the traditional FICO score. EIA data can be used to compare Texas electricity rates to the national average, so you can see how competitive local providers are. You can find a good electricity rate per kWh by comparing the plans of several electricity companies.
Retail electricity providers (REP) buy energy in the wholesale market from power generation companies. These are TRUE fixed-rate electricity plans, where you pay the same rate per kWh of electricity no matter how much or how little you use. The electricity provider can buy these RECs directly from the generator or can buy them on an open market. Retail electricity in Texas costs an average of 12.55 cents per kilowatt-hour, with prices ranging from 8.8 to 16 cents per kilowatt-hour.
The Electricity Information Label (EFL) provides details about a specific electricity plan so that consumers can easily compare offers from different electricity providers, similar to how a nutrition label on food allows consumers to compare food options. This section highlights the average Texas electricity rates for residential and commercial customers.