While everyone needs to power their home, electricity plans are far from one-size-fits-all. There are many options out there on the market, and just a little research can ensure that you end up with the right one. To find that plan that best meets your needs, here’s what you’ll need to know:
Price per kilowatt-hour – What you’ll actually be paying for the electricity delivered to your home. For reference, a one room apartment will typically use around 500 Kw/h per month, while a two bedroom house will use about 1,000 Kw/h. Texas electricity rates are changing all the time, so it helps to be on the lookout for a lower rate that will help you save on electricity.
Plan type – There are two basic types of electricity plans out there: fixed and month-to-month. Fixed plans have a steady price for a specified timeframe, offering great security. Month-to-month plans have no specified timeframe and can vary in price each month, which allows you to take advantage of changing electricity rates. Month-to-month plans come in two flavors: variable and indexed. Variable plans change with energy costs based purely on the discretion of the provider, while indexed plans change based on a published formula that uses an energy index (such as the natural gas index).
Renewable energy options – Many electricity providers now offer plans with a percentage of their energy generated from clean sources such as wind, water and solar. If being environmentally friendly is important to you, keep an eye out for these green energy plans.
Cancelation fees – What you will pay for terminating your contract before the term you signed up for. This applies only to fixed rate plans.
Promotions – Any specials a provider is offering, such as a rebate or gift card.
Here’s an example of a plan here on WhiteFence. This particular plan costs 12.9 cents per Kw/h, is month-to-month, features 100 percent renewable energy, has no cancellation fee (these don't apply to month-to-month plans) and comes with a $50 gift card. Electricity_Plan_Breakdown
Ready to start comparing your options? Enter your address at WhiteFence to get all of the information listed above for plans available at your location, pick the best plan and order your new service all on one website!
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