If you've been waiting for the right time to lock in a Texas electricity rate for your home or business - you don't need to wait any longer. Natural gas prices have a big effect on electricity costs and today natural gas futures dropped to six-year lows - falling as low as $3.916/ MMBTU. Even with mild weather predicted for much of the U.S. in March, natural gas prices are not likely to fall much further.
If you are looking to lock in and pick a Texas electric company for your business - Monday will be the time to do it. If looking for electricity prices for your home - you'll probably see better prices toward the end of the week once these prices have been reflected into the market.
Plus, it's a great time to lock in your rate before the summer heat comes our way. With Texas electricity prices this low - you simply can't afford to wait much longer. As you can see from the chart above - we certainly haven't seen natural gas prices like this in quite some time.