There are dozens of electricity companies that sell electricity in Midland. It can be very difficult to know what the smart choice is.
That’s where we come in. Vault Electricity works with the top electricity companies to bring you savings. We are not an electricity provider, but we work with them to bring you the best electricity rates.
Compare the Cheapest Electricity Rates in Midland
Whether you are looking for green energy plans or simply the lowest rate, you will find what you need here. We’ve organized the dozens of providers and the hundreds of electricity plans sold in Texas into one easy to use format with all the information you need at your fingertips.
Our real time electricity rate comparison tool helps you select the right plan for you.
The Texas electricity market is set up to encourage consumers to switch electricity providers when they find a better deal. Your choice of electricity provider doesn’t affect how your electricity is delivered or the reliability of your service. It really all comes down to electricity rates.
Top Midland Electricity Rates From Each Provider
|The Lantana 15
|Frontier Saver Plus 24
|Gexa Eco Saver Plus 24
|Maxx Saver Select 24
|Smart Simple 12
|Sure Value 36
|Autopay Texas 12
|Green Mountain Energy
|Pollution Free e-Plus
|Clear Deal 12
|Maxx Saver Select 12
|Gexa Eco Saver Lite 12
|Veteran Energy Valor 36
|Reliant Power On 12
|Rate Lock 12
For a more detailed realtime rate comparison enter your zip code at the top of the page. Our rate comparison tool lets you see all providers and rates. You can filter by term length, usage level, green energy plans, no deposit plans and get you them most up to date pricing. The rates listed above are for the 1,000 kWh usage level. More Information on any of these plans >>>
Featured Electricity Rates In Midland, Texas
Why Do the Electric Companies Need to Run a Credit Check?
The business of electric companies in Midland is to buy electricity wholesale and resell it to the people who enroll in their energy plans. In the process they take on pricing risk and allow more predicable pricing for the end user. Since they must compensate the owners of the power plants for the electricity they buy of the grid on behalf of their customers, they want to make sure that their customers are likely to pay their electric bill.
That is what credit checks are such an important tool for them. These types of credit check, known as ‘soft credit checks’ don’t impact credit score but they will help the provider decide if a deposit is required. A very high percentage of people who enroll in an electricity plan are asked to pay a deposit.
It is up to each company to set its own credit requirements. So, if you are asked to pay a deposit with one provider, you may have better luck with another one.
When Should I Renew My Electricity Plan?
The real power that you as a Midland electricity customer have is the power to switch providers to whomever is offing the cheapest electricity rates.
Electricity providers would love to keep you as a customer for life. Your job is to keep them on their toes by demanding lower rates. A couple of months out from the expiration date of your electricity plan, you will begin receiving solicitations from your electricity provider. They will be offering you a new plan that will most likely be at a different rate than your current plan.
This rate could be better or worse than your current plan depending on the direction the market has moved since you signed your last contract.
Your job is to compare the rate they are offering with other electricity providers. Luckily, you have a great resource right here with Vault Electricity to help you compare!
You can enroll in a new plan with a start date as far as 60 days out from the end of your current contract depending on the provider you choose.
Sources of Midland Electricity
Once the dominant source of electricity in Texas, coal has been on the decline for decades. Today, over half of Midland Texas electricity comes from natural gas power plants. Natural gas has a number of advantages when with comes to generating electricity. Power plants that generated electricity by burning natural gas can be quickly ramped up or down to help stabilize the electric grid by keeping available supply in line with the real-time demand for electricity.
Compared to coal, natural gas is also cheaper and burns cleaner. It is also plentiful in the state of Texas. Texas is the largest producer of natural gas in the country. New drilling techniques have opened up several new fields that a decade ago would have been too expensive to extract.
The falling price of natural gas has translated directly to cheap Midland electricity rates.
Technology and government subsidies have also led to a dramatic drop in the cost of wind power. Today, Texas has more installed wind capacity than any other state. This has led to a growth in the number of green energy plans available in Midland while at the same time lowering the cost of renewable energy plans.
Midland, Texas got its name because of its location in between Fort Worth and El Paso on the Texas and Pacific Railway. It was incorporated in 1906. And once oil was found in and around the Midland area, things changed dramatically: the first oil boom was around the Permian Basin in 1923, the second boom happened around the second World War when the legendary Spraberry Trend was found, and the still to this day, the oil in the area produces around a fifth of the entire oil in the petroleum and gas in the country. It is also the 24th most populated city in Texas, with a population of about 135,000 people. Living in Midland is a little more expensive than other cities in Texas due to housing prices and rent. Home appreciation is around 11%, as recent data has shown.
Its biggest employers are Midland ISD, Dawson Geophysical, Walmart, and Midland College. And according to data from Midland College, General Studies, Welding, Nursing, Business, Criminal Justice and Police Training, Firefighting, and Cosmetology were all the biggest concentrations for education attainment.
The actors Woods Harrelson and Tommy Lee Jones are from Midland.
Energy Company Jobs in Midland
Midland’s history is so intertwined with energy production, its name is practically synonymous with oil. Hundreds of energy companies have offices in Midland, and there are tens of thousands of oil-producing wells in the Permian Basin area. It’s no wonder that the largest job-creating industry in Midland is energy. There is plenty of work available out in the oil fields, but you can also find office work with any of the hundreds of energy companies.
SM Energy is a major player in the Permian Basin oil and gas fields. As one of the largest energy producers in the area, they have many job openings available. With a regional office in Midland, they have job openings in both the office environment as well as out in the field.
Cimarex Energy is a publicly trade energy company with Texas operations in the Permian Basin area. An oil and gas exploration and production entity, the company has grown by leaps and bounds recently, with several key acquisitions of other energy companies.
Noble Energy has been in business for 85 years as a leading energy provider. Noble is very active in the Permian Basin, and is one of the largest energy producers in Texas. Consistently named a Top Work Place, it can be a great company to hook your career wagon to.
XTO Energy is headquartered in Fort Worth, and has a division headquarters in Midland. As the largest natural gas producer in Texas and one of the biggest oil producers, they have hundreds of drilling locations across the state. They are constantly hiring for their field operations.
No Deposit Electricity Rates In Midland
If you are reading this, you have probably been asked to pay a deposit by one or more electricity providers. This is pretty standard in Texas where electric companies run credit checks as a matter of course. There are some ways you might be able to avoid paying that large deposit.
Every electricity provider sets their own credit requirements. They are not required by the state to ask for a deposit, but they are required to offer a deposit waiver under certain conditions. If you have been asked to pay a deposit by one electricity provider, you may try another one. The second one may offer you a no deposit electricity plan or they may ask for a smaller amount.
If you fit any of these descriptions, you may be eligible to avoid a deposit:
- You are 65 years or older and not behind in payment with another electric provider
- You are medically indigent
- You are a victim of family violence
- You have recent history (past 24 months) of on-time payment with another electric provider
Keep in mind that, if you feel like any of these describe your situation, you will have to provide proof to the electric company to obtain your waiver.
Prepaid Electricity Plans As An Alternative
Prepaid electricity plans are very popular right now. They are a great way to get electricity without a deposit or credit check. We have some great options for prepaid electricity. Call us at 855-564-1181
Green Energy Plans
Despite Texas’ image a hub for oil and natural gas, the state is also a leader in Green Energy. The state produces more wind energy than any other state and, in fact, more wind energy than most other countries in the world. The solar industry in Texas has been slow to catch on but is poised for a takeoff with the state being home to more solar energy potential than any other US state.
It would be impossible to find any Midland electricity plan that doesn’t get at least part of its electricity from renewable energy sources. Traditionally, renewable energy has been more expensive than fossil fuel energy sources. But that gap has now narrowed quite a bit. Green energy plans are now competitive with traditional plans and often can be found with cheaper electricity rates than non-green plans.
Oncor Is the Midland Utility Company
TXU/Oncor Contact Information:
For power outages in Midland Texas, please call Oncor at 1-888-313-4747. To have underground lines located prior to digging in Midland Texas, call 1-800-344-8377. To view Midland Texas outage maps, click here.
Smart Meter Information:
For information on the smart meter program in Midland Texas, click here.