Texas Electricity Rates From Trusted Electric Companies
If you think you have to pay the rates your current electricity provider charges, we have good news. The state of Texas allows you to choose which electricity provider you use. This means you can select a provider that has the cheapest Texas electric rates in your area and the best plan for your needs, whether you need a better deal for your residence, your business, or both. Thousands of consumers and businesses that have used our electricity rate comparison process agree that, when shopping for commercial electricity or residential electricity rates and plans, Vault Electricity is the one-stop source for the best options from top electric providers.
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2020 Texas Electricity Rate Update
As the Covid-19 crisis of 2020 enters its 4th month, Texas electricity rates continue to decline. Average available electricity rates in deregulated areas of Texas are down from the prior month and down compared to last year.
In particular, three electric companies are offering aggressive rates targeted toward the 1000 kWh usage Texas customer. 4Change Energy, Gexa, and Frontier are all offering attractive plans featuring the cheapest electricity rates for small homes that use around 1000 kWh of electricity per month on average.
This comes as residential electricity usage is near an all time seasonally adjusted high because of stay at home orders, school closures, and other measures that are keeping people in their homes rather than offices and schools. Industry experts are expecting a record demand for electricity this summer even as rates are expected to hold steady.
In Dallas, the cheapest electricity rate available for a 12 month contract is the Maxx Saver 12 plan by 4change. This plan features a targeted rate of 6.2¢/kWh for customers that use exactly 1000 kWh. Due to the nature of the way electricity plans in Texas are structured, your actually average rate per kWh would vary depending on your exact electricity usage in a given month.
For larger homes, the Gexa Superb Saver 12 plan features a rate of 7.8¢/kWh for usages of 2000 kWh in a month. The plan includes bill credits that kick in at the 1500 and 2000 kwh usage levels making this plan not a good choice for customers that use less than 1500 kWh in a given month. These rates are for the Oncor service area which serves DFW and other parts of the state. In Houston and other areas served by Centerpoint the rate is 8.0¢/kWh. to find rates being offered by electric companies near you, enter your zipcode above to compare rates.
For apartments in most parts of the state, the Eagle 12 by Trieagle Energy offers the best rate at 10.0¢/kWh per kwh at 500 kWh. This in the DFW area. In Houston the rate is 10.6¢/kWh.