Types of electricity plans to find the best rates

The Deregulation of Texas state energy allows more than 6 million power consumers the liberty to choose their energy supplier. The ability to handpick a plan that is best suited for families also eased the financial burden of many households for a fixed expenditure every month. You can easily browse and choose from top electricity companies to find the cheapest electricity rates in Texas. However, it is imperative to understand the different types of plans provided by major utility companies in order to determine the cheapest electricity rates in Texas.

Prepaid plans
Prepaid electricity plans do not require a deposit, a credit check, or any long-term commitment for that matter. These plans are a very popular choice among Texans with many electricity companies providing some of the cheapest electricity rates in Texas through prepaid plans. In a prepaid plan, an amount is paid upfront for electricity usage. The service provider will send you monthly usage and outstanding balance notifications.

Variable plans
Plans with variable preferences are offered for a shorter duration and there is no binding contract. In variable plans, the electricity rates will fluctuate on a monthly basis depending on the rise and fall of market electricity prices. You can also find the cheapest electricity rates in Texas with a variable plan.

Fixed plans
Many people prefer a fixed plan as it offers a stable rate that allows you control over your monthly electricity expenditure. The fixed rate is a favorite option for many who want to pay a fixed price for their monthly usage without having to worry about rate fluctuations.

Indexed rate plans
These plans are very similar to that of variable plans. Indexed rate plans allow rate fluctuations only up to a certain limit or an index which is decided by the electric company. Customers can check the index range they want to stay in and opt for a plan accordingly. The level of transparency helps you to find the cheapest electricity plans in Texas to be compared across popular utility providers.

Green energy plans
The electricity that is generated using renewable sources of energy is referred to as green energy. Green energy plans to provide an alternative form of power supply. The plans enable you to help reduce carbon emissions and save the earth’s ecosystem by saying no to electricity generated with nonrenewable sources. Attractive incentives and subsidies can also be availed with green energy plans.

4CHANGE Energy, TXU Energy, Pennywise Power, Direct Energy, Frontier Utilities, Champion Energy, Reliant Energy, and Bounce Energy among many others offer variations of the aforesaid plans. You can compare rates online and find the cheapest electricity plans in Texas.

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