Best Electricity Rates in Round Rock - How to Find the Best Rate for You
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Round Rock Electricity Rates
Electricity rates can vary widely in Round Rock.
This variance in rates is due to several important factors that should be examined.
Among other things, you will want to consider hidden fees, upcharge fees, and the essential aspects of the deregulation of electricity for most of Texas.
It Is Not Just Only About Electricity Rates In Round Rock, TX
Finding the plan that suits you and your needs the best is about more than simply finding the cheapest rate.
Jim and Karen found that out the hard way.
When they moved to Round Rock, they shopped around for an electricity provider that offered a cheap rate. They found a plan that looked reasonable and had a fairly low rate.
For their first year, they were very pleased with their service and the price of their monthly bills.
All that changed when their plan renewed after their plan renewed at the end of their initial contract.
They received their next bill and were shocked at the high price. They looked their bill over and over and could not understand why there was such a drastic price increase.
So, Jim called their REP to get some answers, and he was even more shocked at the answers he received.
Hidden in the small print on their contract was the notice that their first year was at a low introductory rate.
Had they carefully read the small print in their contract, they would have been aware that their contract would automatically renew, but at an increased rate.
Unlike Jim and Karen, if you are researching the electricity rates in Round Rock, Texas, make sure to take note of the following when looking at electricity plans.
Hidden Fees In Round Rock Plans
Electricity bills can be challenging to read and hard to understand because of all the different fees associated with your monthly bill.
When researching Round Rock electricity rates, pay attention to fees that may be hidden in your monthly bill.
Below are some of the hidden fees you might find.
- Early termination fees can be $500 or more.
- Monthly recurring charges include any recurring charges for items other than electric service.
- Franchise fees are used to pay cities and towns for rights to use city or town alleys or streets and are usually based on a percentage of your bill.
- Fuel Cost Factor fees are charged per kWh to cover the cost of fuel to generate electricity.
- Service and Facility charges are fees used to cover the costs of services like customer service, equipment, and meter reading.
- TDU Delivery Charges cover the costs of moving electricity from the plant to your residence.
Contract Renewal Upcharge In Round Rock Plans
It’s not uncommon for an electric company with an advertised low rate to automatically renew your contract but at a higher rate than your initial contract.
If you aren’t careful and don’t read the fine print, you won’t see this information hidden in your contract. And by the time you notice it, you may already be locked into another plan that might require an early cancellation fee.
Either way, you come out on the losing end.
Deregulation in Round Rock
In 2002, electricity deregulation in Texas was approved by Texas Senate Bill 7.
Though the entire state of Texas does not offer deregulated electricity, the majority of the state does.
Hundreds of cities in Texas have access to deregulated electricity.
And if you live in Round Rock, your city is one of those on the list.
That’s good news for you.
Why Is Deregulation Important to Me and Electricity Rates in Round Rock?
The practice of deregulating electricity puts you, the consumer, in the driver’s seat.
It gives you the power to choose which electric company you will purchase power from.
Because there are many Retail Electricity Providers (REPs) competing for your business, you should be able to take advantage of lower prices and various plans.
Types of Electricity Plans Available In Round Rock TX
There are various types of electricity plans available in Round Rock, which makes it easier for you to find the plan that suits you the best.
Do you only want to pay for the electricity you use each month? There’s a plan for you.
Do you want to know the price you will pay each month with no surprises? There’s a plan for you, too.
Do you want to take advantage of decreases in current market electricity rates? There’s also a plan for you.
Prepaid Electricity Rates In Round Rock
Prepaid electricity plans are perfect for the person whose cash flow may keep them from being able to pay a deposit or for those with less than stellar credit.
How A Prepaid Plan Works
A prepaid plan is self-explanatory.
You pay for your electricity upfront at the beginning of the month for a certain amount of electricity.
A prepaid plan may be the one that offers you the best electricity rates in Round Rock, Texas.
These plans also allow you to watch your usage throughout the month, and you can pay for more electricity if you find you are going to go over your planned amount.
Advantages Of A Prepaid Plan
Many pros accompany a prepaid plan.
A few are:
- No commitments
- No contracts
- No deposits
- No credit checks
- No bills with unexpectedly high prices
- You pay only for the electricity you use
Disadvantages Of A Prepaid Plan
With pros, there are almost always cons.
A few negatives that come with a prepaid plan include:
- Higher fees for disconnection
- Higher fees for reconnection
- Higher rates per kWh
Fixed-Rate Electricity Rates In Round Rock
Fixed-rate plans can be perfect for the person who likes to stick to a budget and wants to pay a consistent price from month to month.
How A Fixed-Rate Plan Works
Fixed-rate plans allow you to pay a locked-in rate for a period of time stated in your contract.
Plan lengths vary, so you will want to pay attention to contract lengths when comparing fixed-rate plans.
When looking at Round Rock electricity rates, a fixed-rate plan may be the way to go.
Advantages Of A Fixed-Rate Plan
If this type of plan appeals to you, here are some of the benefits you’ll experience:
- The price per kWh stays the same throughout the length of your commitment.
- This plan makes it easy to budget electricity costs.
- Contract agreements range from three months to five years, so you have the power to choose the plan that suits you the best.
- You can save money with these plans when electricity prices rise.
Disadvantages Of A Fixed-Rate Plan
Even with these benefits, there are some drawbacks to fixed-rate plans.
- You must sign a contract, which means you are committed for a certain length of time.
- If you want to cancel before your contract expires, you will need to pay an early cancellation fee.
- You can end up paying more if electricity prices drop.
Variable Electricity Rates in Round Rock
Variable electricity simply means that your rates may vary from month to month depending on the current market prices the REPs are paying.
How A Variable Rate Plan Works
Your electricity bill will change from month to month because of fluctuations in the cost of generating and delivering electricity.
Because most of the electricity in Texas is produced from natural gas, fluctuations in the price of natural gas can affect the Round Rock electricity rates you pay.
Advantages Of A Variable Rate
There are some obvious advantages to this type of plan:
- Flexibility because there are no contracts
- No cancellation fees
- Perfect for the apartment dweller or those who move around a lot
- Can take advantage of electricity prices when they are low
Disadvantages Of A Variable Rate
Variable rates come with the following disadvantages:
- Rates are sometimes higher than fixed-rate plans.
- These plans make budgeting difficult because the price you pay each month is not consistent.
- A sudden increase in the cost of electricity can hurt you financially if you are not prepared for it.
Month-To-Month Electricity Rates In Round Rock
If being able to choose how much electricity you use and paying when you want is appealing, a month-to-month rate may be the best option for you.
How a Month-To-Month Electricity Plan Works
These types of plans allow the customer to pay for their electricity on a month-to-month basis avoiding getting locked into a contract.
The customer can choose the amount of electricity they want to pay for and when they want to pay for it.
Advantages Of a Month-To-Month Plan
Month-to-month plans are appealing and popular for many reasons.
Some reasons include:
- There is no need to sign a contract, which also results in avoiding fees for early cancellation.
- This is an excellent short-term option for those who are not ready to make a long-term commitment.
- Changing plans is easy.
- Month-to-month plans allow you to take advantage of anticipated lower electricity rates.
- These plans provide higher privacy because you don’t have to share personal information like your social security number, and you can avoid a credit check.
Disadvantages Of a Month-To-Month Plan
Even with all the advantages, there are a few disadvantages.
- Higher rates during high usage months like the summer months
- Lack of consistency from month-to-month
The Factors For Choosing The Best Electricity Rate In Round Rock For Your Needs
Evaluating different types of electricity plans is not the only thing to consider when finding the best electricity rates in Round Rock.
You’ll also need to factor in the size, location, and age of your home. Knowing your home’s historical electricity usage is also extremely helpful.
Factor 1: Location
Not all REPs offer service in every city in Texas. Your zip code will determine which REPs and which plans are available for you to choose from.
For example, if you are moving from Dallas, you will find different options when you get to your new home in Austin.
Factor 2: Historic Electricity Usage
Knowing how much electricity your home has required in the past is valuable information to have when choosing the right plan.
Most plans base the rates on electricity usage and range from 500 kWh to 2000 kWh per month.
You can look through your older bills to see how much electricity you’ve used in the past to help you find the best plan for you.
If you are moving to a new home in Round Rock, you can ask the former tenants or your real estate broker for an estimate of the prior electricity usage.
Factor 3: Age Of Your Home
Older homes can cost you more for electricity because of their lower level of energy efficiency. Older methods of insulation, less efficient windows, and lack of adherence to newer energy efficiency standards are all reasons for higher energy costs in older homes.
In contrast, newer homes can be much more efficient because of better methods and newer energy-efficient standards.
Factor 4: Square Footage Of Your Home
It seems obvious that a larger home would require more electricity which, in turn, results in a higher electricity bill.
For example, a 2000 square foot home in Round Rock uses an average of 1176 kWh per month. On the other hand, the average electricity use for a one-bedroom apartment in Texas is about 760 kWh per month.
Certainly, the electricity cost for a home will be much higher.
When considering the size of your home and electricity usage, also consider other factors.
Perhaps you live in a smaller home but use a lot of electricity for technological devices. Your parents live in a large home but are empty nesters, so much of their square footage isn’t used. Despite the size of the homes, both of these households could essentially have similar electricity bills.
Even so, considering the size of your home is still an important factor when finding the best electricity rates in Round Rock, Texas.
What Is The Best Electricity Rate In Round Rock, TX?
Even with all the specific information about your home, finding the best electricity rates in Round Rock, Texas, will require you to look a little more closely at other factors dealing with the particulars of individual plans.
Factors To Consider When Choosing An Electricity Rate and Plan In Round Rock
Contract terms and fees are a few of the factors to examine closely when looking at the different types of plans.
Factor 1: Term Of Contract
By definition, a contract is an agreement made by two parties where each agrees to abide by certain terms. Electricity contracts are no different.
When you sign a contract with a Retail Electricity Provider, you agree to abide by their stipulations, so you should look at the terms carefully.
Your contract will delineate details like length of service, cancellation fees, upcharge fees, and other important information.
Factor 2: Hidden Fees
Hidden fees do what their name implies. They take you by surprise.
Look for those hidden fees on the front end so you are not shocked when they show up on your bill.
Some hidden fees to be on the lookout for include:
- Delivery charges
- Overage charges
- Late fees
Factor 3: Cancellation Fees
In addition to hidden fees, cancellation fees should also be considered when researching electricity rates in Round Rock.
Cancellation fees can range from fairly minimal charges to $500 or more.
Before locking yourself into a contract, make sure you are aware of fees for early cancellation and consider the price you are willing to pay to get out of a contract that you are not happy with.
How Electricity Rates In Round Rock Are Set
Electricity rates in Round Rock, Texas are determined after taking several things into account like:
- Peak usage times
- Natural gas prices
- Availability of greener technologies like wind-powered electricity generation
How To Compare Electricity Rates In Round Rock
Now that you are aware of the various factors to consider when finding an electricity plan, you might be feeling overwhelmed.
You may even be wondering if it’s even possible to find the best rate.
Not only do you have to take all of these aspects into consideration, but now you must compare all of the different plans and rates side by side.
In many senses, you will not be comparing apples to apples, so is it possible to get an accurate comparison?
You have two options.
Option 1: Spend Days Manually Searching And Compiling Information
You can spend hours and hours of your precious time searching plans and providers, making sure to take into consideration all their different contract terms, fees, rates, and requirements.
After compiling all of that information, you’ll need to look at all the options side by side, which will be extremely challenging when you find that plans and rates don’t line up neatly enough to make a good comparison.
Or, you can do it the easy way.
Option 2: Use Power Wizard To Automate The Process
Power Wizard’s five-minute process can help save your sanity and can also give you peace of mind.
You can salvage your sanity by simply entering a few bits of information into the unbiased Power Wizard Shopping Tool. You’ll enter your zip code and some particulars about your home.
That’s it. Sanity saved.
Then you will wait about 5 minutes and be able to preview the plan chosen by Power Wizard.
Power Wizard takes it from there. This is where peace of mind comes in.
Power Wizard will complete the process to enroll you in the plan you choose and will even monitor that plan for you and alert you when a better option becomes available.
The whole process is quick, easy, and reliable.
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