Texas Electricity Rates

I'm a Texan, and proud of it! One great thing about the state of Texas, is that not too long ago, the electricity industry was deregulated, which means that electricity rates have become a commodity in which you can have some control over your rates. Now, residents can shop rates for their electricity, instead of paying what they are charged from the provider they had to use before, like TXU. If that is the case, then why does TXU still control the energy market? I believe that it is because people just don't know they have a choice, or for some reason believe that any other provider they sign up with won't be as reliable, and some just don't want to deal with the hassle! I'm going to address all of these issues to help ease your mind, and hopefully talk you into saving some money. Then, I'll give you a great link to help you easily shop today's rate for many different electrical providers.

Are Other Electric Companies as Reliable?
In short, YES! This is actually a huge concern for most people who are avoiding switching their providers. The fact is that in Texas, the generation of the electricity is still regulated. This means that regardless of the provider, the electricity comes from the same power plant, along the same electrical lines. If there happens to be a failure, you would call the same 800 number to have the lines repaired as you would with TXU. So, the only thing that changes is who the bill comes from, how much they charge you per kilowatt hour, and the terms of the contract. So let your mind at ease, each energy company out there provides the same reliable delivery of electricity.

Switching is Such a Hassle!
It's really not. All you need to do is make a phone call to the new company (or sign up online as some companies now allow), and complete the contract within a few minutes, and presto, done. Just make sure that you get all the details like how long the contract term is, how much per kilowatt hour, is it a flat/progressive/average kilowatt hour charge, if the charge is flat or variable, and if there are there any early termination fees, is there a guaranteed kilowatt hour price, etc. I recommend going month-to-month, at least in the beginning, to try the company out.

Which Electrical Provider am I With?
Well, to me, price was the most compelling factor is my choice of electrical providers. I don't want to pay higher electricity bills just because everyone else is doing it. Also, I did not want to commit to a one year contract, so I chose Star Tex Power as my provider. At the time, there was only one company cheaper than them, but the name of the company was Amigo Energy. I just couldn’t trust a name like that, so I went with Star Tex Power. One simple phone call, and I was up and running. They also have free on line payment processing, which makes the billing very simple.
To sum up, since the deregulation of the energy industry in Texas, electricity rates have been a lot better, and we now have the ability to save a lot of money! If I were you, I would definitely make the switch. You may shop the rates of many providers at powertochoose.org.

Jeffry Evans, of Personal Finance Resources, is dedicated to helping you reach your goals through solid financial saving and investing tips. More at his personal finance blog.