Texas set a peak usage record this week of 63,453 MW on Monday July 13th. Due to this record heat wave that we've experienced the past few weeks, ChooseEnergy.com has also seen a dramatic increase in website traffic and residential and business customer sign ups.
With this records usage and record heat, we recommend everyone take a close look at that electric bill this month. Your usage and bill have both probably gone up quite a bit from last year. To determine your price per kWh - Take your energy costs plus service charges (less taxes) and divide that by the total kWh usage on your bill. Then go to: www.ChooseEnergy.com to see if you need to switch. It may even make sense to break your contract with your current provider (depending on what you are currently paying) pay the early termination fee and switch to a lower priced plan.
Prices are still very low - but usage is very high - so prices should increase very soon.
Friday, July 17, 2009
Thursday, July 02, 2009
What Effect Do Natural Gas Prices Have on Texas Electricity Costs?
You might not know about it, but the current cost of natural gas could have an effect on how much you pay for your Texas electricity, even if you don't burn gas. That's because fuel costs make up around a third of the price of Texas electicity generation. In the state of Texas, that price is mostly related to how much it costs to create Texas power by burning natural gas. So, when natural gas prices go up, your power bill does, too. This could cause some real confusion if you don't know how it works.
The 1999 Texas Electric Choice Act says that suppliers of retail electricity can change prices twice each year at predetermined times, basing their changes on what natural gas costs at the moment. That way, you'll alwyays know that your power price is closely related to the current conditions on the market. If you don't like the service you're getting or the price you're paying, the Act also allows you to look for a new Texas electric supplier who will offer the kind of pricing, terms, and service contracts that you like. If you prefer a supplier with more environmentally friendly generation methods, you can also take the time to choose someone who does this. To compare Texas electric suppliers for your home or business, go to ChooseEnergy.com.
So, how does that price get determined? First, a composite price for natural gas is calcuated from the NYMEX Henry-Hub natural gas index. A ten day period is chosen, and the closing forward twelve month prices for every business day out of those ten days will be averaged. Then, there's an examination of the price that's arrived at - if it's more than four percent higher than the price that set the fuel factor currently being used, the supplier can file for a price increase.
Then, the percentage by which the price of natural gas has increased is applied to the current fuel factor, and the new fuel factor is created. It takes either twenty days or forty-five days for the new factor to become effective - depending on whether or not the Texas electric supplier requests a hearing. When hearings are requested, the fuel factor doesn't affect your bill until the supplier wins the hearing, and the longer time period is the one that applies.
Increases might seem like they're really complicated, but the truth is that they're not. When natural gas gets more expensive, all electricity in Texas does, even if it's not produced by burning natural gas. So, next time your utility bill confuses you, make sure you consider this fact.
The 1999 Texas Electric Choice Act says that suppliers of retail electricity can change prices twice each year at predetermined times, basing their changes on what natural gas costs at the moment. That way, you'll alwyays know that your power price is closely related to the current conditions on the market. If you don't like the service you're getting or the price you're paying, the Act also allows you to look for a new Texas electric supplier who will offer the kind of pricing, terms, and service contracts that you like. If you prefer a supplier with more environmentally friendly generation methods, you can also take the time to choose someone who does this. To compare Texas electric suppliers for your home or business, go to ChooseEnergy.com.
So, how does that price get determined? First, a composite price for natural gas is calcuated from the NYMEX Henry-Hub natural gas index. A ten day period is chosen, and the closing forward twelve month prices for every business day out of those ten days will be averaged. Then, there's an examination of the price that's arrived at - if it's more than four percent higher than the price that set the fuel factor currently being used, the supplier can file for a price increase.
Then, the percentage by which the price of natural gas has increased is applied to the current fuel factor, and the new fuel factor is created. It takes either twenty days or forty-five days for the new factor to become effective - depending on whether or not the Texas electric supplier requests a hearing. When hearings are requested, the fuel factor doesn't affect your bill until the supplier wins the hearing, and the longer time period is the one that applies.
Increases might seem like they're really complicated, but the truth is that they're not. When natural gas gets more expensive, all electricity in Texas does, even if it's not produced by burning natural gas. So, next time your utility bill confuses you, make sure you consider this fact.
Wednesday, July 01, 2009
Be Cool Texas! ChooseEnergy.com Helps Texans Beat the Summer Heat
Texas online company Choose Energy (www.ChooseEnergy.com) announces that this summer, Texas can stay cool without breaking their bank as they make their own Texas electric supplier choices in the deregulated market. By making their own choices, residents of Texas can choose Texas power providers who offer them the best rates, meaning that they don't have to go broke as they turn up the air conditioning against the sweltering Texas heat. And Choose Energy helps them make the best possible choice of Texas electricity provider.
Choose Energy was founded in 2005 with the mission of providing an unbiased shopping experience among different Texas electric companies. Texas power consumers can do simple comparison shopping and competing Texas electric companies can bid for their business.
Residential as well as business customers now have a simple way to compare offers made by different Texas electricity companies; furthermore, switching to their preferred provider only takes a few clicks of the mouse. Choose Energy was created by energy professionals, who know better than anyone else how to help consumers save money on electricity while making informed choices based on accurate, up-to-date, comparable information. Choose Energy continues to innovate, as it is their mission to provide Texas power consumers with the most up to date information available to help them wisely exercise their power to choose.
The main idea behind Texas electric company deregulation was to give the customer more competitive prices, more choices, and more control. The competition between Texas power companies is now as fierce as the gunslinging in Wild West frontier towns. Choose Energy offers consumers a unique one-site advantage, meaning that they never have to leave the website to order their choice in Texas electricity service. At the company website, you can: Compare Texas electricity prices; Choose the Texas electric plan that is best for you; Order your electric service online from one site; and Save money on your energy costs.
You would receive a notice from your provider if this were going to happen (and even if there were some erroneous oversight and and you did not receive the notice, you would still have power). The PUC has listed a provider of last resort in case of just such an unfortunate event, and that company would become your provider until you can make a choice in a new provider.
So, Texas electric deregulation is a win-win situation for all involved--and Choose Energy (www.ChooseEnergy.com) helps your household or business win as big as it can.
ABOUT CHOOSE ENERGY - Choose Energy's industry-leading technology and ease-of-use energy shopping experience allows consumers and business owners to better manage their energy spend and lower their energy costs. www.ChooseEnergy.com is committed to being the foremost online source for residential and small business consumers to compare and select competitive energy services by continuing to innovate and further deliver our partners' services through an array of channels. This customer-focused commitment is backed by experienced energy resources, great services from qualified suppliers and powerful technology to enable real-time pricing, and efficient enrollment. Choose Energy is a privately held company based in Carrollton, TX.
Choose Energy was founded in 2005 with the mission of providing an unbiased shopping experience among different Texas electric companies. Texas power consumers can do simple comparison shopping and competing Texas electric companies can bid for their business.
Residential as well as business customers now have a simple way to compare offers made by different Texas electricity companies; furthermore, switching to their preferred provider only takes a few clicks of the mouse. Choose Energy was created by energy professionals, who know better than anyone else how to help consumers save money on electricity while making informed choices based on accurate, up-to-date, comparable information. Choose Energy continues to innovate, as it is their mission to provide Texas power consumers with the most up to date information available to help them wisely exercise their power to choose.
The main idea behind Texas electric company deregulation was to give the customer more competitive prices, more choices, and more control. The competition between Texas power companies is now as fierce as the gunslinging in Wild West frontier towns. Choose Energy offers consumers a unique one-site advantage, meaning that they never have to leave the website to order their choice in Texas electricity service. At the company website, you can: Compare Texas electricity prices; Choose the Texas electric plan that is best for you; Order your electric service online from one site; and Save money on your energy costs.
You would receive a notice from your provider if this were going to happen (and even if there were some erroneous oversight and and you did not receive the notice, you would still have power). The PUC has listed a provider of last resort in case of just such an unfortunate event, and that company would become your provider until you can make a choice in a new provider.
So, Texas electric deregulation is a win-win situation for all involved--and Choose Energy (www.ChooseEnergy.com) helps your household or business win as big as it can.
ABOUT CHOOSE ENERGY - Choose Energy's industry-leading technology and ease-of-use energy shopping experience allows consumers and business owners to better manage their energy spend and lower their energy costs. www.ChooseEnergy.com is committed to being the foremost online source for residential and small business consumers to compare and select competitive energy services by continuing to innovate and further deliver our partners' services through an array of channels. This customer-focused commitment is backed by experienced energy resources, great services from qualified suppliers and powerful technology to enable real-time pricing, and efficient enrollment. Choose Energy is a privately held company based in Carrollton, TX.
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