It's still unclear how many Texans are facing huge bills. Switching electricity companies can take days, and in the meantime the price of electricity increased dramatically. As the storm moved in, the company took the extraordinary step of urging its customers to switch to a different electricity provider. One of the most popular wholesale plans in the state is offered by the company Griddy. Variable-rate plans are enticing to many people because the price of electricity is often low during normal weather conditions and because it theoretically allows people to use more electricity when the price is lower - for example, by running appliances overnight.īut when a winter storm caused Texas' grid to all but shut down last week, the wholesale price of electricity skyrocketed. Such plans charge different prices for electricity depending on how much demand there is. Residents with variable-rate power plans are being hit the hardest. Many residents face enormous bills for the electricity they used during the storm. But those who had power, even intermittently, are also paying a price - literally. Millions of Texas residents suffered last week when a winter storm caused a statewide electrical grid failure. Some Texas residents are facing enormous power bills after wholesale prices for electricity skyrocketed amid last week's massive grid failure. Our average user saves an extra $400 per year, so click here to get yours today.Power lines near Houston on Feb. Texas Power Guide supports clean and affordable energy for all, so we’ve teamed with national non-profit Solar United Neighbors to offer free electric plan checkups for Texas solar owners. Smaller systems benefit most from lower import rates or Time-of-Use Rates like “free nights” (depending on usage patterns).(As of, no such plans are offered in Texas except to those who installed their panels through Green Mtn.) Larger systems benefit most from “net metering” plans that credit all excess generation at the full retail rate.
The best plan depends on your relative system size and usage timing. They average ~3 ¢/kWh, but can spike up to 500 ¢/kWh during peak demand periods. RTW: Real-Time Wholesale prices update every 5 minutes with supply/demand and are published by ERCOT here. † Unless noted, surplus credits roll over every month, never expire, and are not redeemable for cash. * Some charges are not offsettable by energy export credits.Įxport /kWh: The credit you earn for each excess kWh of electricity you supply to the grid. Import /kWh: The rate you pay for each kWh of electricity you consume from the grid. Term: The length of your contract in months.ĮTF: An Early Termination Fee for quitting your contract more than 14 days early (unless you move).īase /mo: A monthly fee to cover administrative or other non-usage-based costs. Plan: The plan you choose sets the monthly- and/or usage-based costs you pay for electricity, as defined by the Electricity Facts Label (EFL). Retailer: The Retail Electricity Provider (REP) you choose resells you electricity and bills for delivery on behalf of your TDU. TDU: As your local Transmission and Distribution Utility, charges to maintain the lines that deliver electricity to and from your homes.
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