Residents who have lived in the same home since 2002, when the Texas Electric market was deregulated, and have never switched providers, could be paying as much as double the cost for electricity that they would pay by switching providers. Those who have already switched providers in the past, can often reduce their costs even further by switching again, a year later.
GeekYourRate encourages users to select an electric plan with a 12-month contract. This will lock in your low rate for 12 months and allow you to shop again at the same time each year. When electric prices are falling, as the trend in Texas was for several years, the next contract will yield even more savings. 24-month and longer contracts often cost a premium, since the provider has higher profit risk due to the longer contract period.
Shopping every 3 months or 6 months can save even more money, but will require diligence and timely switching. Once your contract expires, the provider will be free to raise your rates significantly.
Variable-rate plans have no contract term and may actually be the lowest cost plans initially, but often only for the first month. They are also known as month-to-month plans. Without a contract, the provider is usually free to raise your rates at will after the first month. Variable rate and 1-month plans are not represented on GeekYourRate.com, as we don't recommend them. Otherwise, you will find the exact same plans as on the state's powertochoose.org, which is not capable of sorting the plans properly and will not let you compare plans using your past monthly usage.