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Best Electricity Company in Fort Worth - How You Can Find It

Shopping for electricity in Fort Worth, Texas, can feel like looking for a needle in a haystack. 

With over 130 different companies competing for your business, it’s no wonder that so many people get overwhelmed by the process. 

Wait! 

Before you give up the search, here’s a service you need to try first:  

Power Wizard

We make it easy for you to find the best deals on Texas electricity in minutes! The secret is our unbiased algorithm designed by industry experts. It scans hundreds of plans, so you don’t have to! 

Don’t overpay. Let Power Wizard save the day!

 

You’ve just spent the past 2 hours researching electricity companies in Fort Worth.

You’re tired, confused, and you still aren’t sure which electricity company is best.

You don’t have to continue your search for another 2 hours. We can help make it easy for you.

In this article, energy experts at Power Wizard will help you to understand more about the electricity market in Fort Worth and how to save money on your bill.

Fort Worth Electricity Rates

First, here are a few pieces of information about Fort Worth, TX:

• Fort Worth is one of the largest cities in Texas and the 13th largest in the United States.
• About 875,000 people call Fort Worth home.
• Fort Worth is considered the “youngest” city in Texas, with an average age of residents being about 31 years.
• Texas is the second-highest populated state, just under California. It makes up one-seventh of the entire United States’ energy consumption.

Deregulation in Fort Worth

Fort Worth is one of the many cities in Texas that has a deregulated electricity market.

This means that the laws allow private companies to sell electricity directly to consumers.

When the laws changed in 2002, dozens of electricity companies called Retail Electric Providers (REPs) entered the market and began to compete for business.

These REPs buy electricity at wholesale prices and then set the retail rates that you pay for the energy in your home or business.

Why Is This Important to Me?

Residents of Fort Worth have a choice between many Fort Worth electricity providers and hundreds of different rate plans.

Shopping around for the best plan can definitely save you a bundle on your bill each month.

However, comparing electricity plans can get complicated and confusing. With hundreds of options, finding the best one can be a challenge.

This is where Power Wizard comes in.

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We offer an unbiased algorithm to help you shop all the electricity plans in Fort Worth. Our system compares all of them to find the best one for your usage and needs, saving you the time and hassle of having to research all the options yourself.

All you need to do is enter your zip code and a few pieces of information about your home in our Shopping tool.

What is the Source of Electricity in Fort Worth?

Electricity is generated from 3 main energy sources:

• Fossil Fuels (coal, petroleum, and natural gas)
• Renewable Power
• Nuclear

Steam turbines generate electricity using mostly fossil fuels. Although nuclear and renewable power can be used, natural gas accounts for a large portion of electricity production. Natural gas is used for about 35% of the United State’s electricity generation, including in Fort Worth.

Although Fossil Fuels are the leading source of energy production, other resources are used as well:

• Nuclear energy is 19% of electricity generation in the U.S.
• Renewable energy is 20% of electricity generation in the U.S.
  • Hydropower is 7% of renewable electricity generation in the U.S.
  • Wind Energy is 7% of renewable energy generation in the U.S.
  • Biomass is 2% of renewable energy generation in the U.S.
  • Solar is 2% of renewable energy generation in the U.S.
  • Geothermal is 1% of renewable energy generation in the U.S.

Types of Electricity Plans Available In Fort Worth

After some research, you may find yourself wondering, “What are the best electric plans in Texas?”

There are several main types of electricity plans available to you in Fort Worth.

Each plan has pros and cons, depending on your usage and lifestyle.

The main types of electricity rates are:

• Fixed
• Indexed
• Variable rates

Prepaid and month-to-month plans are also an option for those who need something more flexible.

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Prepaid Electricity Plans In Fort Worth

A prepaid electricity plan is a pay-as-you-go plan.

What is it?

You will load your account with funds before you use electricity and replenish it as it gets depleted over time.

Prepaid plans can provide a flexible option and might be especially useful in the short term.

If you’re in transition and your living situation is changing, maybe to a different neighborhood in Fort Worth, this type of energy plan might make the most sense for you.

However, there are some downsides to prepaying for electricity.

Although these types of plans don’t usually require a deposit, the company might ask you to keep a minimum amount of funds in your account at all times.

If you forget to load your account, you may incur a fee, or worse, they might turn off your power unexpectedly.

There will probably be more fees associated with getting your power reinstated after being shut off.

Besides being a big inconvenience, power outages can cause other unexpected financial losses such as loss of data from your electronics, food spoilage, etc.

For these reasons, some people opt to explore other types of electricity plans.

Fixed-Rate Electricity Plans

An electricity plan with a rate that doesn’t change from month to month is called a fixed-rate plan.

What you need to know

On the day you sign up for a fixed-rate plan, your retail rate is set according to the current wholesale price. The wholesale rate could go up or down at any time, but your rate will stay the same.

Fixed rates are good for people who don’t want any surprises on their electricity bill each month.

However, when you sign a fixed-rate contract, you could get stuck paying a higher rate for electricity if market rates go down.

Variable Electricity Plans

Variable-rate plans are subject to change each month.

How does it work?

When the wholesale rate for electricity in Fort Worth is in high demand, your retail rate will go up.

For example:

In the summertime, when people are using electricity to run their air conditioning, the demand for energy is higher than during other seasons.

If you sign up for a variable electricity plan, your rate might be much lower during months of lower demand in the marketplace.

The retail rate in a variable plan will always follow the wholesale rate of electricity.

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But keep in mind:

Wholesale rates are set by the energy-generating companies. These prices are influenced by many economic factors and can be hard to predict.

Indexed Electricity Plans

Like variable plans, indexed plans also have a rate that is subject to change each month.

How does it work?

The indexed rate is based on certain factors. Oftentimes, the price you pay will depend on the time of usage.

Electricity is in higher demand at certain times of day when people are usually at home and using electricity. The indexed rate may be higher during these times.

An example of someone who might benefit from an indexed plan is a person who works odd hours and isn’t home during peak demand.

It can be hard to determine if an indexed plan would provide the most savings for you each month.

With Power Wizard’s Shopping Tool, we can analyze your usage and determine which Fort Worth electricity plan would be the best for your personal needs.

Month-to-Month Electricity Plans

Month-to-month electricity plans are an option for people who don’t want to sign a contract with an electricity company.

Why do people like this option

If you’re in the middle of a transition, or if you don’t want to have a credit check to set up your account, a month-to-month plan could be best for you.

If you were previously in a contract with an electrical company, and the contracted period ended, they may have switched you to a month-to-month plan.

This time period is a good opportunity to reevaluate your electricity needs. A month-to-month plan might be a good fit, or a different type of electricity plan might be better for you.

Shopping around for a better rate that makes the most sense for your family could save money on your bill each month.

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The “Best” Electricity Company and Plan in Fort Worth Will Be Different for Each Family

Finding the “best” or “cheapest” plan can be tricky. Each person’s usage is different. Individuals with different homes, usage, and lifestyles will benefit from different plan options.

Factor 1: What is the Size and Age of Your Home

Since heating and cooling are the main sources of the cost associated with electricity, the square footage of your home makes a big difference in your bill each month.

Older homes in Fort Worth may be less energy efficient than newer homes.

All of these things factor into which plan will be best for you.

Factor 2: Lifestyle

Your lifestyle plays a big part in which electricity plan will save you the most money.

For example, if you work in an office on a 9 am – 5 pm schedule, you could benefit from a plan with free nights and weekends.

Or, if you take long vacations during the summer months (to get out of the heat of Fort Worth), you might want to look into a variable rate plan that has cheaper rates during months of less demand.

Factor 3: Location

There are REPs that only service certain areas of Fort Worth, so you’ll have to be sure to compare the ones that are available to you.

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Which Company Has the Lowest Electricity Rates in Fort Worth?

Electricity prices change every day. The company with the lowest rate today might not have the lowest rate tomorrow.

Comparing rates can also be confusing because it doesn’t always indicate your actual savings each month.

Finding out the rate of electricity per kWh can give you a good idea of what you will pay each month on your bill.

However, this price can be deceiving.

Many times the contract with the “lowest rate” will include hidden fees or long commitments.

This is why finding the “lowest” rate is less important than finding the “best” rate for your personal usage needs.

Take these factors into consideration when picking an electricity plan:

Factor 1: Hidden Fees

Some contracts in Fort Worth have fees that are not obvious from the beginning. You might not notice them in the fine print until your first bill arrives.

Be sure to read the Terms of Service agreement to avoid missing these types of fees.

Factor 2: Length of Commitment

Electricity rates change every day, and electrical companies come out with new promotions all the time.

You don’t want to get stuck in a very long commitment with anyone rate or company in case something better comes along, and you wish to switch.

Factor 3: Cancellation Costs

If you sign a contract and you find a better plan someplace else, you could be looking at some hefty fees for canceling your current plan.

These are all things that Power Wizard takes into consideration when helping you find the right plan.

How Do Electric Companies in Fort Worth, Texas Even Set Electricity Rates?

REPs in Fort Worth set retail electricity rates based on current wholesale prices.

Wholesale electricity is generated at the power plant, and the cost depends on different economical factors.

There are other costs associated with the price that you can end up paying as a retail customer:

• Weather can affect wholesale rates, which affects the retail price.
• The cost of power lines and maintenance of electrical equipment can factor into your rate.
• And more.

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How Do Business Rates Compare to Residential Rates in Fort Worth?

If you own a business in Fort Worth, you will definitely want to shop around for the best electricity provider.

Business rates can be competitive.

Luckily, Power Wizard also helps businesses. Our Shopping Tool will search through all the business electricity rates in Fort Worth to find the best one for your place of business.

Ultimately, finding the right electricity plan can help your company’s bottom line.

I Have an Electricity Plan I Am Unhappy With; How Do I Switch?

If you want to switch providers in Fort Worth, check and see if you are already in a contract with your current company.

They might charge you a fee for cancellation.

However, if your contract has expired, they have probably switched you into an automatic month-to-month plan. In that case, you may be able to switch plans without a penalty.

Sometimes it makes sense to switch, even if there is a cancellation fee.

If your new plan is going to save you $20 a month, and the cancellation costs $25, it would be worthwhile.

How Do I Compare Electricity Rates in Fort Worth

There are 2 ways to compare electricity rates in Fort Worth: the easy way and the hard way.

You can price each plan out manually, which will take hours, possibly days, to accomplish.

Or you can use Power Wizard’s algorithm to instantly find the plan that suits your needs the best.

Plan NamePlan LengthPlan Rate

FRONTIER – Frontier Power	5 months	9.2 ¢ / kWh
JUST – Autopay PTC Plan –	3 months	9.7 ¢ / kWh
AMIGO – Basics PTC –	3 months	9.8 ¢ / kWh
INFUSE – Essential Infusion Plan	6 months	12.0 ¢ / kWh
FIRST_CHOICE – You Got This™ – Fixed	12 months	12.7 ¢ / kWh
ENERGY_TEXAS – Come & Take It	12 months	12.7 ¢ / kWh
GEXA – Gexa Eco Choice	15 months	12.3 ¢ / kWh
DIRECT – Green Texas – Fixed	12 months	13.0 ¢ / kWh
YEP – YEP Saver Fixed Autopay E-Plan	6 months	12.8 ¢ / kWh
SOUTHWEST – Texas Saver Fixed Rate Autopay E-Plan	6 months	12.8 ¢ / kWh

Option 1: Price it By Hand by Going to Each Companies’ Website

Shopping for the best electricity plan is an extensive process.

It’s not as simple as finding the lowest rate.

Because of varying contract terms and different types of rates, looking at them all can feel like comparing apples to oranges.

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You can try to manually compare electricity plans in Fort Worth. But it’s going to take some time.

First, you’ll have to narrow down the REPs who service your area. There are dozens of companies, and some of them may not be available in Fort Worth.

Second, you’ll have to take a hard look at your own electricity usage. The most important factors to consider are the amount that you use and the time of day.

Lastly, you’ll need to collect rate quotes from all the REPs in Fort Worth in order to compare them. This can be a big challenge because electricity rates can change as often as every 15 minutes.

By the time you’ve finished getting all the quotes, the rates may have already changed.

Getting quotes from all the Fort Worth electricity companies can take up a lot of valuable time. People who try to do it manually may end up signing a contract for a plan that isn’t necessarily the best one they could have found.

Option 2: Save Tons of Hours of Research

Luckily, Power Wizard can help do all of this for you.

Our unbiased algorithm will compare all the plans from Fort Worth electric companies that are available in your area and provide you with the very best option.

All you need to do is enter your zip code and a little information about your home into our Shopping Tool.

Instead of taking hours to compare plans manually, let our program work for you.

In a fraction of the time, it would take you to compare energy plans, Power Wizard can save you a ton of frustration and a bundle of money on your electricity bill each month.