Lowest Electric Rates In Houston - At its peak, the statewide average was $1,664.18 per megawatt hour, ERCOT's website showed. Much of Greater Houston was much higher.
HOUSTON - A large portion of Texas saw a spike in electricity demand on Monday, leading to a sharp increase in wholesale energy prices in the state.
Lowest Electric Rates In Houston
ERCOT's color-coded wholesale energy maps regulate real-time wholesale energy prices by shortage. Red indicates high demand and high prices. Blue and purple colors represent low demand and low or even negative prices. Colors like green and yellow represent stable and typical prices ranging from $30 to $120.
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One photo from about 7:30 p.m. Show that most of Texas is green or yellow, but for several hours during the day, prices have risen into the hundreds and even thousands per megawatt hour.
"We spent a lot of money to get electricity that would normally be $40, $50, $70 per megawatt hour," Hearst said. "We're seeing prices well above $300, $400, $500."
High demand affects not only prices, but also electricity. If the supply cannot meet the demand, then we will see the trailing stops.
On Monday, while Greater Houston saw a jump in demand, Calhoun County, not far from Harris County, showed a surplus of energy at negative prices.
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"Usually this happens when there's a generator that's dumping extra electricity into the grid that really has nowhere to go," Hirst said.
Even if Calhoun County has a surplus of electricity, Harris and neighboring counties can't share that electricity, Hearst said.
"ERCOT has no way of moving it to, say, Houston, where we really need it," he said.
Hearst said that would exacerbate the problem with the state's power grid, which is already under scrutiny for a deadly 2021 winter storm.
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ERCOT operates more than 52,000 miles of transmission lines nationwide. Last year, in a letter to lawmakers after the winter storm, ERCOT said it was studying the costs and benefits of increased transmission.
Most people won't see a spike in prices due to fixed rates, but Hearst said those prices will eventually be passed on to the consumer. Our renewable energy experts have done hours of research and collected dozens of data points to determine the best energy rates in Houston. We've also objectively rated and reviewed a range of energy companies to help you make the right choice for your home.
Whether you're moving to the area and looking to connect to the grid, or shopping around for the best electric rates in Houston, we're here to help. We've narrowed down the best clean energy providers in town, and by using this tool or clicking the links below, you can compare prices and find the right plan for you.
Houston has what's known as a "regulated energy market," which gives consumers the right to choose their own electricity supplier. While the idea seems simple enough, unregulated energy can be a confusing industry to understand, and many consumers end up paying too much. Let's compare electric rates in Houston to avoid overpaying for energy.
Why Are Texas Electricity Prices So High?
Houston is known as the energy capital of the world and has a number of headquarters and intellectual capital for almost every part of the energy industry.1 The city has also had what is known as a "deregulated energy market" since 2002. which allows residents to shop for their electricity providers.2
As a result, there are over 100 different Houston electric companies competing for your business. Also known as Retail Electricity Providers (REPs), these companies offer plans that vary in terms of contract, quality and environmental impact. In addition to paying the REP, you will be charged an additional fee by the Electricity Transmission and Distribution Service (TDU) to cover electricity distribution, meter reading, wiring, etc.
If you live in or near the Houston metropolitan area, TDU is your CenterPoint Energy.3 CenterPoint's current rates are approximately $0.04 cents per kWh of energy usage and a monthly fee of $4.39. You pay these fees regardless of the energy plan or provider you choose, and they are included in your monthly bill from your provider.
Want to see the cheapest prices in Houston right away? You can use this tool or click below to connect to local energy providers in your area. Or read on to learn more about the Houston Electric Market.
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Here we strive for a more sustainable planet and encourage our readers to contribute where practical. So we've chosen to highlight the best electric companies in Houston that offer 100% renewable energy.
The table below shows the renewable energy plans and prices available in the Houston area. Please note that these prices may not be accurate as rates may change daily.
*Rates vary depending on your TDU. If CenterPoint Energy is your TDU, you'll see the rates above. These rates include the current utility charge of 0.04 cents per kWh. Rates are according to the Texas Public Utilities Commission and are subject to change.4
On average, a clean energy plan can cost 1 cent per kWh more than a non-renewable energy plan. If you use 1000 kWh per month, that's about a $10-15 difference.
Why Are Texas Electricity Rates So High? [2022 Guide]
When looking for the best electric rates in Houston, keep in mind that rates and the average cost of electricity can vary based on a number of factors. This means that you may get different electricity than your next door neighbors. Here are a few things to keep in mind about the cost of electricity in Houston:
The amount of electricity your home uses can affect your rate per kWh. Most REPs offer tiered plans based on average energy consumption. Tiered energy plans are often called "V-shaped plans" because rates are higher for people who use the least and most energy, and lowest for those in the middle.
For example, on a typical tiered plan, customers who use about 500 kWh or 2,000 kWh per month will pay more than those who use 1,000 kWh per month. According to the Electric Reliability Council of Texas (ERCOT), the average home in the Houston area uses 1,300 kWh per month.5
The length of the contract also affects the price of your electricity. As with most services, the longer you stick with one provider, the better off you'll be. In the next section, we will look at different types of electrical plans.
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A word of caution: read the fine print and ask questions before you sign anything. Most contracts come with termination fees as well as initiation fees. And while some companies may advertise a $10 cancellation fee, the fine print can actually be $10.
When shopping for an energy provider, always ask for the Electricity Facts Label (EFL). Similar to the nutrition label you see on packaged food, EFL gives you all the information you need about a company's electricity prices, contract terms and conditions, generation sources and emission levels.6 What it looks like we will give an example. :
If you want to see the best energy rates that are right for you in Houston, you can start comparing prices and plans here. As a trusted source of energy information, we are often able to provide discounted rates for our readers.
When choosing an energy provider in Houston, you will be presented with several different plans. Here's an overview of the different options offered by most companies in Houston, along with their pros and cons, so you can choose the best plan for you.
Get The Cheapest Texas Electricity Rates
As you can see, a fixed rate plan allows you to secure a rate that stays the same throughout your contract. Note that a "fixed rate" does not mean that your electricity bill will remain the same throughout the month. Instead, a rate is set that is paid per kilowatt-hour. So your total bill will still be higher in the months when you use more electricity.
If you cancel early, you may be charged an early termination fee (ETF) unless you move to a new location outside the service area.
Some fixed rate plans convert to variable rate plans at the end of the contract. Make sure you read the fine print and ask your energy provider specific questions about term and price
With a fixed rate plan, you pay the same amount every month for every kilowatt-hour of energy you use. This ensures that your rates will not change even when the electricity market rate changes. Some months you'll pay less than the market rate, and others you'll pay more.
Get The Cheapest Electric Rates In Houston Tx
If you'd rather pay month-to-month than commit to a long-term contract, you can consider a variable rate plan. As the name suggests, variable tariff plan prices are based on variables in the energy market. The price of kWh will increase or decrease depending on supply and demand.
If energy prices fall, there may be months when variable rate customers may pay less per kWh than fixed rate customers.
Variable rate schemes can be particularly dangerous if extreme weather or other factors occur suddenly - a
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