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Electricity Rates McKinney, Tx: How To Find the Best Rate For You

As a resident of McKinney, you know that electric rates are a taboo subject. You walk by your neighbor’s house and wonder: What are they paying for their electricity?

It feels like a rude question, but you have to know… are you getting the best possible electric rate?

Don’t ruin the neighborhood picnic! You can find out if you’re getting the best rate on electricity without having to ask a single awkward question.

How?

Power Wizard’s Shopping Tool!

Our Shopping Tool will pair you with the perfect electric plan in minutes so you can rest assured you’ve got the best rate on electricity. Instead of interrogating your neighbors on their monthly bills, you can walk around with your head held high knowing that your deal is even better.

 

McKinney Electricity Rates

There is a competitive electricity market in Texas, which allows the electricity rates to vary in McKinney.

These diverse rates are a result of various important factors:

• The electricity company that services your home or business
• The type of electricity plan you have
• The length and terms of your contract
• Fees and other unanticipated costs

However, the main reason for the wide range of rates in McKinney is due to the deregulation of the energy market.

Deregulation in McKinney

All of those companies that are available for you to choose from can compete for your business.

Why?

In 2002, the Texas state legislature approved the Texas Senate Bill 7, which changed the laws regarding electricity.

The electricity market that was once regulated by large overarching utility companies, became a deregulated electricity market.

Although not all of the cities and towns in Texas are under deregulation, hundreds of them are, including McKinney.

This means that:

• Private retail electric companies can market and sell electricity directly to you.
• Consumers have the right to choose who they want to power their home or business.
• You are now able to shop around as an informed consumer.

This is a great benefit to you.

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How Does Deregulation Affect Me As A McKinney Resident?

The deregulation of electricity allows you, the consumer, to have purchasing power.

With all of the electricity providers that compete for your business in McKinney, you can choose the one company that offers the best electricity rate and plan for you.

But, you have to do your due diligence…

The responsibility of choosing an electricity rate that best meets your needs falls upon you.

If you shop around without doing thorough research, you might end up paying more than necessary with an excessively-priced plan.

But we have good news for you…

Here at Power Wizard, we can help you find the electricity rate and plan in McKinney that suits you best, whether it is for residential or commercial purposes.

With our 100% unbiased Shopping Tool, we can match your home or business needs with the best rate for you.

Do you want to see how it works?

Simply enter your zip code into our Shopping Tool and in 5 minutes or less, you will know what electricity company offers the best rate for you.

Best Electric Rates in McKinney, TX: How To Find Them

When you are considering what is best for your household and/or business, it can sometimes push your budget’s boundaries.

If you are like most, you are looking for ways to cut the costs of powering your home or business with a lower electric rate that meets your unique needs.

So, if you have been asking “What is the best electric rate in McKinney, TX?” consider asking a more specific question…

What is the best electric rate in McKinney, Texas for me?

The emphasis is on “The best…for me” because there is a misconception that finding the lowest electric rate will guarantee that you will save money.

But this is not true because the cheapest rate you find may not align with the unique needs of your household or business.

Therefore, if you have been focusing only on the cost of electricity per kWh, that particular rate may not be the best rate for you.

Finding the best rate in McKinney can be tricky, but not impossible when you know that your best rate will be different depending on your unique factors.

Know That The “Best” Rate Will be Different for Each Family

The best electric rate in McKinney will be different for each household.

When you are searching for electricity rates, important factors need to be considered to determine which plan is truly best for your family’s needs:

• Size of your home
• Age of your home
• Your Lifestyle
• Location of your home

Size And Age Of Your Home

Typically, the size of your home (in square footage) will affect your energy bill.

You can also expect newer houses and apartment properties to have higher energy efficiency.

Think about these questions as you consider the size and age of your home:

• Is your home or apartment unit a newer build?
• Did your home come with energy-efficient appliances?
• How many bedrooms does your home have?
• How many stories does your home have?

If you are not sure of the size and age of your home in McKinney, you can find the information in your mortgage or lease agreement documents.

Lifestyle

Consider the type of lifestyle that you and your family live in McKinney. Do you:

• Work from your home or do you leave to work at the office every morning?
• Typically stay home on the weekends or leave for family outings?
• Go to bed early or do you stay up late?

Specific lifestyle factors, like the ones above, will affect your monthly energy usage.

For example, a “free nights and weekends” plan wouldn’t be the best choice for a household that has the majority of family members working nights or traveling often.

Location

Not all electricity companies offer their services in every city and town in Texas.

Depending on your zip code, certain electricity companies are available for you to choose from.

For instance, if you are living in Dallas, you will find different electricity options than if you live in Houston.

Are you interested in seeing how your location can affect finding your best electricity rate?

Take five minutes to use Power Wizard’s Shopping Tool.

You can enter your zip code in McKinney, as well as other information about the previously mentioned factors and Power Wizard will do the work for you.

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How Do Business Rates Compare to Residential Rates in McKinney?

Business electricity rates in McKinney vary just as residential rates do. Several electricity companies provide individualized quotes for business rates.

However, according to Electricity Local, the average commercial electricity rate in Mckinney is 10.22¢/kWh, which is 25.25% greater than the average commercial rate in Texas.

When comparing the energy usage of a business and a home, there are several unique factors that should be considered that would not be assessed with a home.

Let the Power Wizard’s Shopping Tool do the hard work to select the best electricity rate for your business.

How To Compare Electric Rates in McKinney, Texas

You have two options when comparing electricity rates in McKinney:

1. Use hours (or even days) of your free time to do a manual search
2. Use Power Wizard’s Shopping Tool in 5 minutes or less

Take Hours or Days Of Your Free Time to Manually Search

Taking the time to do a manual search for an electricity rate in McKinney is a daunting task.

There are dozens of electricity companies to choose from and each one has various rates paired with enticing promotions.

When you begin your search, you will need to make a list of all the electricity companies that service your zip code.

Google is probably the best way to go about this. Type in the phrase “electricity in [your zip code]” to get a list of web pages for electricity companies in your area.

Continue your manual search with the following steps:

1. Look at each electricity company’s website to get rate quotes.
2. Decide what electricity rate will allow you to save the most money while considering your unique factors – size, age, location, and historical usage for your home.
3. Read and understand the fine print in regards to rates and contract terms to ensure you don’t overlook any hidden fees.
4. Compare your findings for each of the electricity companies and make your final decision on which company best suits your needs.

As you can see, there is a lot of work involved in manually comparing electricity rates in McKinney.

It takes a lot of time and energy…and when you finish, how can you even be certain that you have compared and chosen the best rate? You most likely won’t be 100% certain.

Unless you have a lot of extra time on your hands, consider comparing electricity rates in a much simpler way.

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Use Power Wizard’s Shopping Tool

Thankfully, you can find the best electricity rate much quicker than doing it manually.

Power Wizard has developed a 100% unbiased algorithmic tool that can research and compare all the electricity rates in McKinney for you.

This technology is called the Shopping Tool.

It uses your zip code and a few other pieces of information about your home or business to select the rate and plan that best meets your needs.

You won’t spend more than five minutes finding the best electricity rate because Power Wizard’s Shopping Tool was created to make this easy for you.

Power Wizard will also continue to help you save by monitoring your usage and the market rate to ensure that you continue to get the best electricity rate in McKinney.

Types of Electricity Rates In McKinney

The best electricity rate in McKinney will depend on your lifestyle, as well as the size, age, and location of your home.

Many different rate structures are available for you to consider in McKinney:

• Variable-rate electricity rates
• Pay-as-you-go electricity rates
• Fixed-rate electricity rates

Variable-Rate Electricity Rates

Variable-rate is a type of rate that varies the cost of your electricity from month to month.

The monthly rate depends on the market price of electricity at that time.

Variable-rate plans are a popular option for many homes and businesses in McKinney.

How Does This Work?

Your electricity bill will fluctuate month to month because the market value of generating and delivering electricity will change.

For example, let’s say that your rate in January is 13.2 cents per kilowatt-hour (kWh).

In February, you could pay more (or less) than the previous month, but there is no way of knowing ahead of time.

Why People Like This Rate

There are benefits to this type of rate that appeal to some people:

• No contracts
• No cancellation fees
• Flexibility for people who move around frequently
• Paying a lower rate when the market for electricity prices drops

Pay-As-You-Go Electricity Rates

With pay-as-you-go rates, you pay for your electricity before it is transmitted to your home.

More traditional electricity rates require that you pay for your electricity after you use it, but pay-as-you-go is essentially a pre-paid type of plan.

How Does This Work?

You have an account with your McKinney electricity company that allows you to add money and monitor how much electricity you are using.

When you pay towards your account, you can add any amount for a certain number of kWh.

You can add more money to your account anytime. If you run out of money in your account, you will not have any electricity.

Why People Like This Rate

People like this type of rate for some of the following reasons:

• No contracts
• No cancellation fees
• Flexibility for people who move around frequently
• The ability to track your energy usage in real-time

Fixed-Rate Electricity Rates

Fixed-rate plans allow you to pay the same price per kWh from month to month.

How Does This Work?

This type of rate requires that you pay a locked-in rate per kWh for the duration of your 12, 24, or 36-month contract.

Typically, rates will vary depending on your chosen contract length and minimum monthly usage.

Why People Like This Rate

Here are some benefits that people enjoy with this type of rate:

• A set price per kWh that stays the same for the length of your contract
• Easy to budget your monthly electricity bill
• Variety in contract agreements, so you can choose the plan that best meets your needs

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Which McKinney Electricity Company Has The Cheapest Rates?

Everyone wants to find the cheapest electricity rate in McKinney and save money, but…

Choosing a rate based on the kWh can be deceiving.

For example:

• An electricity company may offer a low rate compared to other companies, but in the fine print of the contract, the rate will go up after 6 months.
• Or, if your monthly electricity does not meet the minimum monthly usage amount, you could incur fees in addition to the rate going up for the month.

It’s nearly impossible to know which electricity companies have the cheapest rates because rates are constantly changing.

There are some things you need to investigate when choosing an electricity rate in McKinney.

Long commitments or hidden fees are difficult to spot but here are some factors to look out for before signing an electricity service contract.

Hidden Fees

Those hidden fees shock you because they are not in plain sight on your contract.

Be an informed consumer and ask questions, so you are not surprised when extra charges show up on your bill.

Hidden fees to be aware of include:

• Late fees
• Delivery charges
• Overage charges

Cancellation Fees

Although you may go into your contract with no intention of canceling your service in McKinney, you should be aware of any cancellation fees.

These fees can range from around $25 to several hundred dollars, depending on your particular electricity company and plan.

Before you sign an electricity service contract, be sure that you are aware of any fees that you would be required to pay for an early cancellation.

Length Of Contract

Electricity contracts are an agreement made between you and the electricity company, that includes specific terms that each party is to abide by.

When you sign your electricity service contract, you are agreeing to abide by the terms laid out in the contract by your electricity company for 6, 12, 24, or 36 months.

Therefore, you should look very closely at those terms before signing and be aware of your renewal date after your contract expires.

You can be automatically enrolled in a month-to-month plan with a much higher rate on the anniversary of your contract and not be aware.

How To Switch Electricity Rates and Plans in McKinney to Get a Better Rate

If you are considering making a switch to get a better electricity rate in McKinney, you should consider the following questions:

• Which sort of rate would be best for you – a variable-rate plan, a pay-as-you-go rate plan, or a fixed-rate plan?
• Will a “free nights and weekends” promotional plan save you money? Which days and times of day are you most likely to use the most electricity throughout the week?
• Are you more knowledgeable about different electricity rates and how to save money while better meeting your energy needs?

After thinking through these questions (especially the last one), you may be ready to see what options you have to switch to a rate and plan that is suitable for your needs.

There’s a very easy way to do this with Power Wizard.

Save Time By Letting Power Wizard’s Unbiased Algorithm Find The Best Plan For Your Needs

Give Power Wizard five minutes, and we can help to give you confidence and peace of mind as you switch.

Simply enter a few pieces of information into the Power Wizard Shopping Tool:

• Your zip code
• The size of your home or business
• The age of your home or business
• Your historical energy usage
• And a few more details

In about 5 minutes and you will be able to see the rate that Power Wizard has chosen as the best for you.

It’s that quick.

Then, Power Wizard will then begin the process of switching you to your new electricity rate and plan.

But, we don’t stop there. We will even continue to monitor and compare your chosen plan against others and alert you if a better electricity rate becomes available.

Use the Power Wizard Shopping Tool to save you time and money today.

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