Fixed energy plans offer you a chance to compare energy rates in your home or business energy market. You then choose an energy rate and plan that best works for you. When you choose a fixed rate option your rate never changes for the duration that you choose. You enjoy the same prices for your electricity or natural gas service no matter what the energy markets do.
On the other hand, month-to-month variable rate (no-contract) plans don’t have cancellation fees. You won’t be penalized if you find a better deal elsewhere and want to make another switch. And, you won’t be stuck paying more than you should be if the market rate for electricity trends down. But, if it goes up, you’ll be paying more than your in-contract neighbors, and you’ll likely want to shop around again for a better deal.
Some good news: According to J.D. Power’s 2016 survey on retail electric providers (its most current survey of the space), Texas has the highest overall satisfaction with retail electric providers out of any state. And because rates, plans, and offers can be so similar from provider to provider, customer satisfaction scores are a great way to break a tie. Think of it like choosing who to hire when you have two candidates with similar resumes — you’re going to pick the person with the glowing references.
Another unwelcome side effect of not knowing your average monthly kWh usage level is that you may end up paying more than you expect. This can occur when a customer inadvertently shops an electric rate based on a higher usage level than they actually use. Electricity suppliers commonly advertise their electric rates associated with the highest (2000 kWh) usage levels since those tend to be the lowest rates.
SFE Energy is a division of a multi-million dollar international corporation that services hundreds of thousands of electricity, natural gas, and home services customers across the Northeastern United States and Canada. SFE Energy’s parent company, Summitt Energy, opened its doors in 2006, thriving in one of the most competitive and highly regulated energy markets in North America. SFE Energy is a leading competitive supplier of electricity & natural gas for homes and businesses, and one of the largest privately-held retail energy companies in North America.
Then, in 2002, Texas deregulated the electricity market and everybody cheered! Except that, sure, deregulation opened up the market to competition that may (or may not) have resulted in lower rates, but it introduced a whole host of other issues. These issues may not have been factors before but now they’re critical when you’re on the look-out for cheap Houston electricity providers.