This chart, comparing offers available in the competitive market to the last regulated price, is one of AECT’s most viewed and used sets of data. We’ve published some version of it periodically since 2007.
We created this chart to create a relatively direct comparison between what customers had available just before the market opened in January 2002, and what price they can find on the market today. That’s why we averaged all the offers available on Power to Choose where you can get a locked-in, all-in rate for a full year, since that’s similar in concept to a regulated rate. The lowest available offer of that type is shown, along with month-to-month variable offers, to provide a sense of what else is available.
More Than Electricity Prices
The competitive market has brought significant innovation in retail products. Today, customers can choose plans selling 100% renewable generation, time-of-use prices that fit their lifestyles, rewards and rebate-based products and many others. The PUC is studying ways to improve Power to Choose, but the site does allow you to narrow down your choices, to help you find the right retail electric provider (REP) and plan.
Questions to Consider When Choosing Electric Service
For customers who haven’t shopped for electricity in a while, or for those who are new to a competitive area of Texas, here’s a useful checklist of questions to ask. Also, don’t hesitate to contact your current REP to see if there’s a product available that better fits your needs.
- Do you want your electricity to be from renewable resources?
- Do you want a fixed or variable price?
- How long will the contract be, and is there a cancellation fee?
- Will there be a deposit? How much?
- How long has the REP been operating?
- How is the REP’s customer service?
- Does the REP offer sign-up incentives or rewards programs?
- Does the REP offer information or tools to help you manage your electricity use?
- Does the REP offer additional programs or discounts that you might be eligible for?
- Is the REP involved in your community?
AECT’s Electricity 101 provides an in-depth background on the structure of the competitive electric market, as well as resource adequacy, transmission and distribution investment and needs, environmental performance and the retail market. It provides the background you need to understand how we produce electricity, Texas-style.