Cheap Electricity Rates in Sherman, TX

Power Wizard’s energy experts evaluated pricing, contract details, customer feedback, and other factors to choose these three plans.

Lantana 24

14.3¢

per kWh at 1000 kWh

Term: 24 mos.

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Lantana 12

13.7¢

per kWh at 1000 kWh

Term: 12 mos.

Choose Plan

SimpleSaver 11

7.5¢

per kWh at 1000 kWh

Term: 11 mos. | Fixed

Choose Plan

In Sherman, TX, where the average monthly electricity usage for a typical home is 1,122 kWh, electricity rates range from 7.50¢ to 15.43¢ per kWh. Check out some of the available rates below. Pop your ZIP code into Power Wizard’s plan comparison tool to view information specific to your area.

The electricity rate you pay can change based on how much energy you use during a billing cycle. This is because plans are structured in different ways, such as fixed-rate, tiered pricing, or usage-based credits. Below is a comparison of average Sherman rates across the most common usage levels.

As part of the Sherman-Denison metropolitan area, Sherman is served by several well-known electricity companies, commonly called Retail Electric Providers (REPs). There isn’t one ‘best’ provider because they all design their offerings around different energy needs and preferences. In a deregulated market like Sherman, the easiest way to choose the right REP for your household is to compare them side by side. Power Wizard’s energy experts have done the research for you below.

Sherman has seen rapid growth in recent years, supported in part by major semiconductor investments. Because the city is deregulated, you can decide which REP to buy an electricity plan from rather than being assigned one. The provider and plan you choose can have a major impact on your monthly bill, so make sure that you do some research before signing up.

Power Wizard is here to help you get your electricity service up and running. To get started:

1. Look at your past bills to understand your average electricity usage.
2. Enter your zip code in the Power Wizard search bar.
3. Compare electricity rates and plans in your area using our comparison tool. Keep in mind your average usage.
4. Decide which plan type and provider is right for your household.
5. Sign up! Your new REP will take care of the rest for you.

If you decide the electricity plan or provider you chose isn’t the best fit, you can shop around and switch providers at the end of your contract. Early Termination Fees (ETFs) may apply if you leave early. If you are moving, ETFs do not apply, even if your contract has not been fulfilled. ETFs also do not apply during the last 14 days of your current electricity contract.

If you enrolled recently, check to see if your REP offers a satisfaction guarantee that might let you switch to another plan free of charge. Just keep in mind that these guarantees typically have short windows (30-60 days), aren’t offered by every REP, and are usually for specific new customers only.

Want to explore Sherman electricity plans and REPs? Enter your ZIP code into Power Wizard’s comparison tool. Once you’ve made your decision, you can enroll directly through our website.

REPs and electric utilities are both part of your electricity service in Sherman, but they have different purposes. A REP is the company you choose to buy an electricity plan from. It sets its own rates, designs plans, and sometimes offers optional incentives or programs. REPs are also responsible for billing and customer service.

An electric utility company—referred to as a Transmission and Distribution Utility (TDU)—delivers electricity to your home or business. It controls parts of the Texas power grid infrastructure and is responsible for maintaining it. TDUs also restore power during local outages.

TDUs are assigned to residents based on their location. The TDU for Sherman, TX is Oncor Electric Delivery. You can report outages to them by:

• Phone: 888-313-4747
• Text: Text OUT to 66267
• Online: https://www.oncor.com/outages/create_outage/identify

Families living in large homes in the Westwood Village area usually consume more energy than students in 1-bedroom apartments near Austin College. Because every household uses energy differently, there isn’t a one-size-fits-all electricity plan. Power Wizard’s energy experts have explained the most common types of Sherman electricity plans available so you can make an informed decision. Before enrolling in any plan, read the Electricity Facts Label (EFL) for full details.

Fixed-Rate Plans

Fixed-rate electricity plans are the smartest choice for Sherman residents who want more predictable energy costs. With this type of plan, the energy rate (the per-kWh charge) stays more stable for the length of your agreement, helping reduce surprises when market prices fluctuate. Your total bill can still change based on your monthly usage, TDU charges, taxes, and other applicable fees, but the price per kWh stays about the same throughout the contract term.

Time-of-Use Electricity Plans

Time-of-use plans (TOU) charge different rates depending on when electricity is used. Most offer lower-cost electricity during specific off-peak periods, like evenings or weekends, while charging higher rates outside those hours. These plans can be a good fit for Sherman households that can run major appliances, charge EVs, or complete other energy-intensive tasks during off-peak times.

Bill/Usage Credit Plans

Bill credit plans provide a credit toward your bill (usually a fixed dollar amount, like $50) when your monthly electricity usage reaches a qualifying kWh threshold. These credits can significantly reduce your effective rate. Missing the target kWh will eliminate the bill credit, so these plans tend to work best for Sherman homes with relatively consistent, medium-to-high monthly consumption.

Prepaid and No-Deposit Plans

With prepaid/no-deposit electricity plans, you fund your account in advance rather than receiving a monthly bill. As you use electricity, charges are deducted from your balance. These plans can be attractive for customers who want to avoid a deposit requirement or credit check. These plans require you to monitor and replenish your account regularly to prevent service disruptions.

Renewable Energy Plans

Renewable energy plans help support electricity generation from sources such as wind, solar, and hydroelectric power. REPs purchase Renewable Energy Certificates (RECs) to match the plan’s renewable content. Sherman residents can often find renewable options available in fixed-rate, TOU, bill credit, and variable-price structures.

Solar Buyback Plans

If your Sherman home is equipped with solar panels, a solar buyback plan may allow you to earn credits for excess electricity sent back to the grid. The amount of compensation varies by provider and plan design, but these credits can help reduce your overall electricity expenses throughout the year.

Variable-Price Plans

Variable-price plans offer flexibility because they typically do not require a long-term contract. Instead of locking in a rate, the price per kWh can increase or decrease based on market conditions, weather patterns, and overall demand. While these plans may appeal to renters or residents seeking short-term options, monthly electricity costs can be less predictable.

Whether you own a boutique on historic Main Street, a healthcare practice on U.S. Highway 75, or an industrial business in the southern part of town, there are plenty of business electricity plans available. Several REPs serving Sherman offer businesses customized electricity plans with specialized rate structures, dedicated account managers, and energy monitoring tools.

Need help finding a commercial plan that matches how your business operates? Fill out the contact form on Power Wizard’s Business Electricity page to speak with an energy expert.

Finding the right electricity plan in Sherman takes more than comparing advertised rates. The best plan for your home depends on your typical energy usage, budget, and preferences. As you evaluate electricity providers and plans:

• Compare estimated monthly bills, not just rates: A plan that looks inexpensive at one usage level may cost more based on your household’s actual electricity consumption.
• Watch for usage requirements and bill credits: Some plans offer their best pricing only when you reach specific monthly kWh thresholds.
• Review the contract details: Check the term length, cancellation policies, and any early termination fees before signing up.
• Research the provider’s track record: Customer reviews can provide insight into billing practices, customer service quality, and overall satisfaction.
• Consider renewable energy options: Many fixed-rate and green energy plans are competitively priced in the Sherman market.
• Read the EFL: The EFL outlines the plan’s rates, fees, bill credits, and other important details.
• Match the plan to your household’s usage habits: A plan that works well for a large family home may not be the best choice for an apartment or lower-usage household.

Ready to compare Sherman electricity plans? Enter your ZIP code into Power Wizard’s comparison tool to view rates, contract terms, and plan features side by side.