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Are you ready to save hundreds on your electricity bill?

Discover how to get the best electricity rates in Texas - within seconds!

Electric Companies in Laredo TX: How To Find The Best One For Your Energy Needs

There are dozens of energy companies to choose from in Laredo, TX, which is great news if you’re looking for a competitive rate on your electricity bill.

But let’s be honest, you don’t have time to slog through hours (or even days) of research about different types of electrical rates and plans.

Luckily, you don’t have to.

There is a much simpler way to find the best electricity company for your home. 

Meet Power Wizard.

Power Wizard uses a 100% unbiased algorithm that compares every single available electricity plan so that you don’t have to. With Power Wizard’s Shopping Tool, you’ll have the best electricity plan for your unique needs in just 5 minutes!

So, what’s the holdup? 

Let us find you the best plan in seconds and start saving.


 

Can I Choose Any Electricity Company In Laredo?

Let’s say you’re moving to Laredo from another state where you only had one utility company and no other electricity options.

After some initial research, you might be asking: “Are all of these options available to me?”

The answer is yes.

There are tons of great options for energy in Laredo, and you have the freedom to choose whichever one suits you the best.

The tricky part is finding the company and plan that works best for your household.

Electric Companies In Laredo Exist Because Of Deregulation

Powerlines at dusk - Electricity Companies Laredo Texas

The laws regarding electricity in Laredo changed back in 2002.

Deregulation of the energy market allowed private companies to start selling electricity directly to consumers like you. So, instead of only having one large utility company, you have dozens of Retail Electric Providers (REPs) to choose from.

When REPs started selling electricity at a retail level, they were able to set their own rates and come up with creative rate structures to entice customers.

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How To Choose The Best Electric Company In Laredo

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Choosing the best electric company in Laredo can be a real challenge.

There is a whole sea of companies and plans to choose from, and if you’re not very familiar with rate structures, you won’t know where to find the best deal.

Option 1: Manually Search For The Best Electricity Company in Laredo:

Where there’s a will, there’s a way.

If you want to shop for electricity plans in Laredo the hard way, you can do a manual search and compare.

We’ll use Sarah’s experience to show you what that process looks like:

Sarah was determined to save money on her electricity bill. She knew that deregulation in Laredo gave her hundreds of options for electricity companies that were all competing for her business.

She knew she should be able to find a great deal on a rate.

Sarah began by trying to find out which REPs service her neighborhood in Laredo, but she couldn’t find an up-to-date list with the information she needed.

She started to contact each REP individually to find out if they were available to provide electricity to her home.

After supplying her zip code to dozens of companies individually, she compiled a list of REPs that she could choose from. Of the 160+ REPs, only 50 serviced her area.

Well, at least she has narrowed it down… or so she thought.

She then realized that the work had only just started.

Each provider offered many different rate plans. Some rates were fixed, variable, or tiered. There were hundreds of options. She tried to learn about each one, but the list kept getting longer and longer.

And, which was the best for your energy needs? She wasn’t even sure how much energy she would use each month.

The whole process started to confuse and befuddle her, as she went deeper and deeper into her research.

After several days, utterly overwhelmed, Sarah gave up.

The rate quotes she had collected had already expired (because electricity rates change every day), and she was left exhausted and frustrated in a pile of spreadsheets and paperwork.

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Having lost hours and hours to this fruitless project, Sarah found herself thinking:

I wish I had a personal electricity-plan shopper to save me all this time and energy.

Sarah’s wish came true on the day she found Power Wizard.

Option 2: A Step-By-Step Process To Simplify Your Electricity Shopping in Laredo

Using Power Wizard is the easiest way to shop for an electricity plan.

Instead of wasting hours and days, our unbiased algorithm can show you the perfect plans available to you in less than 5 minutes.

Here’s how it works:

  • Enter your zip code into our Shopping Tool.
  • Power Wizard will scan the marketplace for all the electricity plans in Laredo.
  • Our system will analyze your home size and average usage to match up your personal electricity needs to the plan that will save you the most money each month.
  • The algorithm accounts for the fine print and hidden fees in your contract too. So, you don’t have to waste any more time with legal jargon.
  • The best part is that we continue to monitor your contract, and we’ll let you know when it’s about to expire. If a better rate is available and it makes sense to switch, we will give you a heads up.
  • Power Wizard will even set up auto-pay for you, so your electricity contract process is absolutely seamless.

Consider us your personal shopper, saving you time and money every month, so you don’t even have to think about the electric bill.

So, What Is The Cheapest Electricity Company In Laredo?

Happy family with dog - Electricity Companies Laredo Texas

Here’s the thing about “cheap” electricity rates…

They’re misleading.

The rate per kWh doesn’t tell the whole story about what your final bill will be. There are many other factors that are more important to determine the bottom line.

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Electricity Rates In Laredo:

Retail rates in Laredo are set per kWh, and they are guided by the cost of wholesale electricity (what the REPs pay to the power generator companies).

However, this does not tell you what your final bill will be.

Just Seeing the Rate Won’t Tell the Whole Story.

Rates per kWh are a big part of the price of your electricity contract. However, there are many other things that influence the bottom line.

Hidden fees, renewal upcharges, and minimum usage requirements are only a few things that blindside customers with extra cost.

If you don’t read the fine print in your contract very carefully, you could end up paying more than you expected.

Hidden Fees

We’d love to tell you that all electrical companies are always up-front with costs.

Unfortunately, the fact is that many contracts have fees hidden in the fine print.

For example, let’s say you signed up for a prepaid electricity plan.

Prepaid plans are enticing for many people who like to have flexibility with their payments. However, many times a prepaid plan will include fees for letting your account run low on funds.

If you let your funds go under a certain amount, you might incur large penalty charges, or even have your power shut off. If you’re not aware of these policies, it can come as a real shock.

This is why it’s important to read and understand the fine print of your contract thoroughly.

Contract Renewal Upcharge

Contract renewal upcharges can cause confusion and frustration for customers who aren’t expecting them.

Imagine you signed up for a 6-month contract with an amazingly low rate.

You didn’t realize that, after 6 months, the electricity company can raise your rate as much as they want. You may not still be contractually obligated to stay in the same plan, but it can be difficult to switch plans at the last minute when you realize that your rate is sky-high, all of a sudden.

If you happen to be busy that month and don’t have time to shop around and find a whole new plan, you might end up staying with the company that you already have and paying a premium just for the convenience.

Minimum Usage Requirements

If your contract has a minimum usage requirement, it can definitely be a costly mistake if you don’t understand your electricity usage very well.

We can look at Cindy’s contract as an example:

Cindy lives in Laredo in an 800 square foot apartment, and she works two jobs, so she’s not home often.

Cindy found an electricity plan that had a seemingly low rate, and she signed a 12-month contract.

Unfortunately, her contract came with a stipulation that she must use a certain amount of electricity every month to qualify for the low rate.

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Since she lives in a small home and doesn’t use a lot of energy, Cindy never met the minimum usage, and she ended up paying a premium each month.

So, she literally gets charged more for using less energy. Don’t be a Cindy.

Power Wizard can help you find a plan that will work best with your lifestyle.

What is the Best Electricity Company in Laredo

If there was only one answer to this question, we would tell you. Unfortunately, there isn’t.

All-electric companies vary, and their benefits match up with different households based on your usage and lifestyle.

Power Wizard can let you know which electricity company is best for you. You just need to spend a few minutes entering your zip code into our Shopping Tool, and our program will scan the marketplace for the best deals in Laredo.

Factor 1: Rate Structure

The most important thing about finding the best electricity company is finding the right type of rate.

Rates per kWh vary, but you can save more per month by looking at the way the rate is structured.

Factor 2: Special Deals and Promotions

Many times REPs will have special deals and promotions that you can take advantage of.

These types of deals can save you money in the short term, but you will have to keep shopping around each time your contract expires.

Types of Electricity Plans

There are hundreds of types of electricity plans.

A few main types include: fixed, variable, unlimited, indexed, prepaid, and unlimited.

When you’re shopping for rates, you should be aware that each one of these has its own pros and cons.

One of them will be best for your household, depending on how you use electricity.

Fixed-Rate Plans

Fixed-rate plans are the most common plans when people consider their electricity contract.

These plans are pretty straightforward – you sign up for a rate per kWh, and they charge you at the end of the month, based on your usage. The rate doesn’t change for the life of the contract.

Fixed-rate plans have a rate structure that is easy to understand.

However, they are still subject to having fine print details and fees that you might not be aware of.

Another downside is that if prices go down in the marketplace, your rate will stay the same, and you’ll be paying a premium.

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Variable-Rate Plans

Variable-rate plans have a rate that changes each month based on the market price of electricity.

Wholesalers set the cost based on environmental factors like weather, and they pass on the cost to retailers. Your REP will then set your rate each month based on these factors.

Most likely, your rate in the summer months will go up because the demand for electricity is higher. In the winter, your rate will go down.

If you are someone who goes on long vacations in the summertime, this type of rate might save you money.

It is hard to forecast electricity rates in the marketplace, but variable rates can be beneficial depending on your circumstances.

Unlimited Plans

Unlimited plans are helpful if your electricity usage varies each month.

If you run a business out of your home, if you have a very large house, or if you just need to be absolutely sure what your bill will be each month, an unlimited plan might be a good fit for you.

Indexed-Rate Plans

Indexed rate plans can get a little more complicated to understand, but they can save you money in the long run.

Indexed rates can mean that the rate changes each month based on the price of electricity stocks in the marketplace.

The rate structure can also be based on other variables. It might even change based on the time of day that you use electricity.

Free Nights and Weekends

Free Nights and Weekends can be a huge saving for people with certain types of schedules.

The rate might be high during the day on the weekdays, but it’s free after a certain time on the weekdays and on the weekends.

There are a few pros and cons to these types of plans.

Cons:

  • If you aren’t hyper-aware of your schedule, or if you have a schedule that changes from day to day, you could end up paying a high rate for electricity during regular hours.
  • If you have appliances that use up kWhs when you’re not at home, you could end up paying more than you realize. For example, most people don’t shut off their air conditioning altogether when they leave home; they simply turn it down. With a higher rate during non-free hours, the rate you pay could end up evening out in the long run.
  • If you work in the evenings or on the weekends (away from home), this type of plan won’t be a large benefit to you.

Pros:

  • If you work a regular 9-5 job, most of your usage will be during the free hours, saving you a bundle on your bill at the end of the month.
Discover the best electricity rates.

Power Wizard finds you the best electricity plan and ensures you won’t overpay for electricity again.

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Prepaid Electricity Plans

Pre-paid electricity plans are a lot like prepaid phone plans. You load your account with funds and reload it as you use electricity.

These plans can come in handy if you are in the process of moving and need a short-term option or if you have to keep close track of your budget each month.

As with all plans, there are several pros and cons.

Pros:

  • Flexible plan
  • Pay your bill any time of the month
  • No surprises on the cost
  • No credit check or deposit required
  • Easier to budget
  • No need to sign a contract

Cons:

  • The rate might be high
  • Your rate might go up or down unexpectedly
  • Minimum balance requirement
  • High fees and penalties for letting your account get too low in funds
  • You have to keep track of your account throughout the month

No Deposit Electricity Plans

Contracts that don’t require a deposit work well for people who need to keep close track of their budget.

However, some no-deposit plans have other features that might come as a surprise to customers. The rate per kWh might be higher than normal due to the convenience of having no deposit requirement.

Remember to read the fine print to make sure you know exactly what your contract entails.

Free Gifts

Many companies offer free gifts when you sign a contract with them. Gifts might include a Google Home or an Amazon Gift Card.

While free gifts are nice and can be beneficial, they usually don’t save you any money on your bill at the end of the month.

It’s important to consider all aspects of the plan and the rate. The structure of the rate is much more important than other factors, and you’ll want to consider this first before other promotional items.

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