TXU’s newest commercial promotes something they call the TXU SecureSaver Plan. Taking a closer look at the details of the plan shows it suffers from the same problem as most TXU plans – the rates are just too high.
The plan promises to protect you from rate increases and save you 20%. But 20% of what? The reality is that TXU’s rates are so high that, even after a 20% discount, you are still paying way more than most other providers charge.
The Secure Saver plan is a 24 month plan. At the time of this writing, the rate for the plan in the Dallas area is 13.9¢ per kwh (assuming you use 2,000 kWh per month). The 20% discount promised in the advertising only applies to the first 12 months. The rate is 11.2¢ per kwh in the first year after the discount.
In the second year the rate would shoot back up to 13.9¢ per kwh. Assuming you use roughly the same amount of electricity the second year as the first, that makes your average rate for the 24 months 12.6¢ per kwh.
How does this compare to other electricity providers in the Dallas area?
TriEagle Energy is currently offering a 24 month plan in Dallas for 9.0¢ per kwh. That’s substantially better than even the 20% discounted first year of the TXU plan. Bounce Energy is also offering a 24 month plan for just 9.6¢ per kwh.
The rates are slightly different but the results are the same in the other parts of the state, including the Houston area. TXU’s plan is more expensive than almost any other provider.
Protection Against Rate Spikes?
If it’s protection against price increases you want, you could even consider the current 36 month plan being offered by TriEagle for the same 9.0¢ per kwh as their 24 month plan.
When shopping for electricity in Texas it’s easy to get lost in all the numbers. But here is the bottom line:
Over the 24 months of the plan, TXU’s SecureSaver Plan would cost you $1,704 more than other providers.
Note: Electricity rates in Texas change often. The rates in this piece are as of 4/29/2013. To get up to the minute rates for your city enter your zip code in the search box above.