Read the fact sheet and terms of service for each proposed plan. Morstad said as you shop rates, look for other fees that could be tacked on including a fee for requesting paper bills or calling customer service. If you’re shopping for a plan, you can start the search on the state’s Power to Choose website. “Many people are experiencing sticker shock if they're looking at their contract and trying to choose for the next year or two," he said. Tim Morstad with AARP Texas explained this hot summer combined with higher rates makes the market tougher for consumers to navigate. Others pick a retail electric provider in Texas’ deregulated market. Some of you are in electric cooperatives or get your electricity from a utility owned by your city. “You have people that their contract ends and it was at a fixed rate, but now it's going up to the market rate and that's shocking,” said Shafer. Some were on contracts with fixed rates set a couple of years ago. This summer, Shafer said the organization has taken more than 400 calls a month from people who need help. “We have had many people call in tears,” Shafer said. It helped 56 in the same time period last year. 'WE HAVE HAD MANY PEOPLE CALL IN TEARS'Īt the Network of Community Ministries in Richardson, Cindy Shafer said the nonprofit helped 70 families pay electric bills in June and July of this year. “You have to wonder how the people on fixed incomes handle it, how do people who are living paycheck to paycheck handle it?” Ross told NBC 5 Responds. While looking for short-term contracts in the spring, Hood said he saw rates approaching 19 cents a kilowatt hour. Hood said he was paying about 9 cents per kilowatt hour earlier this year, but his contract ended. “I think our last bill was $300 more than normal for this period of time,” Hood said. 'OUR LAST BILL WAS $300 MORE THAN NORMAL'īetween the hot temperatures this summer and rising rates, Ross Hood saw the impact on his monthly electric bill. If it’s time to shop for a retail electric provider, read on to learn more about where to start.
From July 2021 to July 2022, prices paid for electricity jumped 47%.
Shop for a fixed-rate plan, and consider signing a longer-term contract.According to the latest consumer price index for North Texas, prices for electricity continue to rise. Read the terms of the contract carefully. There are a few things that business owners can do to find the best rate. Even a small difference in rates can save a business a significant amount of money over the course of a year. This is because energy costs can account for a significant portion of a business’s operating expenses. Third, it can be difficult to compare rates because they are often expressed in different terms.ĭespite the challenges, it’s important for businesses to find the best electricity rates possible. Second, the rates offered by different providers can change frequently. First, there are many different providers to choose from. There are a few reasons why it’s hard to shop for business electricity rates. This can make it difficult for business owners to shop for the best rates. Business electricity rates in Fort Worth can vary widely, depending on the size of the business, the type of usage, and the length of the contract.
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