Did you know that 60% of Texan households are overpaying for their electricity?
After the deregulation in 1999, electricity providers entered the market to create more competition by offering different rates. This means people can choose between approximately 40 different providers and hundreds of electricity plans.
If you do your homework, it's possible to find a competitive rate. Unfortunately many people don’t have time for this, and have never switched their provider before. As a result, they’re paying more than they should.
Am I overpaying for my electricity?
Our recent survey showed that 40% of Texan residents in 10 different cities have never switched their electricity provider. If you fall within this group, there’s a good chance you’re overpaying.
Unfortunately providers tend to charge the highest rates to their most loyal customers. By bringing in new customers with attractive rates, providers often count on customers to forget when their initial contract expires, automatically switching them to a month-to-month plan.
Many people don't scrutinize their electricity bills, and assume that once they’ve switched to a better rate that they’re set. Unfortunately, this isn’t the case.
Teaser rates and complex rate structures
As soon as you have a look at different electricity plans, you’ll quickly realize that there are many, and they can be confusing! Some plans look good on paper, but could turn out to be costly because of minimum or maximum usage penalties.