Navigating Tricky Texas Electric Rates
Don’t fall for the sneaky sign-up offer. Save in the long term instead.
If you consider yourself a savvy shopper who always keeps an eye out for the best deals, you know how to play this game. And win. Why pay full price today if you could get half off tomorrow? When it comes to Texas electric rates, the same concept applies. Most electric companies have deceptive pricing to entice you into signing up. You might start off with an amazing rate, but you’ll see it go up after a couple months. Those kinds of surprises are never fun.
Real-time rates will save you more than a fixed rate.
When you purchase a plan with another electricity company, you are likely getting a fixed rate for electricity. This concept of paying one, consistent rate was probably sold to you as a positive thing because you don’t have to worry about prices fluctuating throughout the day. In reality, the total cost to the average consumer of all the price spikes in 2016 was less than $15*. When you pay the real-time rate of electricity, more often than not you are paying less than a fixed rate. And when looking at your savings over the course of the year, real-time rates will net out to be far less expensive than a fixed rate, even though prices might be higher than a fixed rate plan on occasion.
Free nights and weekends aren’t so free.
Traditional electric companies might throw in free weekends or nights to “sweeten the pot,” making their plan sound like a good deal. However, nights and weekends tend to be free or very inexpensive to begin with, so your electric provider isn’t doing you any favors. Instead, they’re using that promotion as a way of locking you into a contract with a higher rate for all other times.With Griddy, you get real-time pricing, which passes the savings directly on to you. No matter what time electricity is free or even negative—whether it's at night or midday— you’ll get that savings. There were 139 hours in the past year, when prices were negative—as in, less than $0 per kilowatt-hour. During those times, Griddy users would have gotten paid for their electricity usage**. Even offers like free nights or free weekends won’t add up to the total savings over the course of a year with real-time pricing.
Avoid extra fees that are hiding behind tricky language.
Electric bills can feel like a foreign language. You might spend hours looking at a bill only to feel more confused about how much electricity you’re using and what is actually costs. Or worse—you’ve come to accept that you have to pay these fees and rates, even though you don’t know what they are or why they might be different than what you expected. Providers can have as many as 22 hidden fees and even charge you for using too little energy with a “minimum usage” fee. These kinds of charges make your bill unpredictable and even unreadable.When you get your bill Griddy however, what you see is what you get. There are no hidden fees. The only fees we charge are the ones every provider has to charge—the cost of the electricity you’ve used and the transportation and lines fees to get it to you. You won’t ever be charged for using too little or too much. Or for giving us a call to ask a question if you’re unsure what a something on your statement means (that can be a $5.00 fee with other companies).
No penalties hiding in contracts.
When you sign up with an electricity company, you might feel like you are signing your life away, at least for the terms of the contract. But when you sign on with Griddy, there is no contract—because we’re confident you won’t ever want to leave. You can walk away any time you please without any termination fees. Most other companies make you sign restrictive contracts that lock you into their prices for 12-24 months. If you want to leave early, fine, but you’ll have to pay a hefty disconnection fee to do so.
Transparency you can trust.
If you look up Texas electric rates, you will get a wide variety of search results. In most areas of the state, you get to choose which company you work with. You will quickly see that most terms are at least 12 months long, and the rates can be all over the place. What you sign up for isn’t necessarily what you’ll be paying for the rest of your contract.When you sign up with Griddy, you are signing up for continuous access to rates of electricity. You are also signing up for transparent pricing. You always pay the same monthly membership cost, and you always pay the real-time rate of electricity. It’s that simple.*Calculated using 2016 real-time prices for an average Houston residential customer as compared to a fixed-rate of 10.9 cents/kWh.**While energy prices can be free or negative, you still technically have to pay the transportation and distribution costs and the taxes and fees associated with the energy used.