Shopping for electricity is getting cheaper in Texas

subscribe

AUSTIN -

Shopping for electricity is becoming cheaper for most Texans, according to a new study from the Texas Coalition for Affordable Power. But for those who live in an area with only one electricity provider, prices have increased in a recent 10-year period, the study says.

About 85 percent of Texans can purchase electricity from a number of providers in a deregulated marketplace, while the remaining 15 percent must buy power from a single provider in their area.

The report from the Texas Coalition for Affordable Power, which advocates for cities and local governments and negotiates their power contracts, pulls information from the U.S. Energy Information Administration to compare prices for Texans in the two models. Most Texans could begin choosing their electricity provider in 2002.

Buying power tends to be more expensive for Texans who live in a part of the state with a deregulated electricity market. But that gap is continuing to shrink as Texans become more willing to shop for power. In 2015, the gap “was the smallest since the beginning of deregulation,” according to the report.

Between 2006 and 2015, the last year for which data is available, average residential electric prices for Texans in a competitive market decreased by 17.4 percent, while average prices increased by 5.5 percent in the regulated areas.

“These residential price declines are promising, and show the retail electric market is maturing,” Jay Doegey, executive director for the Texas Coalition for Affordable Power, said in a statement. “We’re encouraged by the price declines, but more progress is needed.”

The study attributes the decline to the prevalence of “low-priced individual deals” in the competitive areas.

Overall, the average price of electricity in Texas — including the price in the deregulated marketplace, for the third time in four years — was below the national average in 2015.

Related News

hydro one building

Hydro One reports $1.1B Q2 profit boosted by one-time gain due to court ruling

TORONTO - Hydro One Ltd. reported a second-quarter profit of $1.1 billion, boosted by a one-time gain related to a court decision.

The power utility says it saw a one-time gain of $867 million in the quarter due to an Ontario court ruling on a deferred tax asset appeal that set aside an Ontario Energy Board decision.

Hydro One says the profit amounted to $1.84 per share for the quarter ended June 30, up from $155 million or 26 cents per share a year earlier.

On an adjusted basis, it says it earned 39 cents per share for the quarter, up from an…

READ MORE
Newfoundland Consumer Advocate

NL Consumer Advocate says 18% electricity rate hike 'unacceptable'

READ MORE

ev charging station

B.C. Hydro adds more vehicle charging stations across southern B.C.

READ MORE

Scientists Built a Genius Device

Scientists Built a Genius Device That Generates Electricity 'Out of Thin Air'

READ MORE

ontario rate relief

Ontario Extends Off-Peak Electricity Rates to Provide Relief for Families, Small Businesses and Farms

READ MORE