Texas has had a deregulated energy market for over a decade, giving Dallas and other cities the power to choose an electricity provider based on various criteria, including cheap electricity. Deregulation was a major step to freeing up the market from monopolistic utilities drive driving prices down. But, since the market was deregulated, utilities were split into three parts: Generators, TDSPs, and REPs. Power generators are facilities like wind or solar farms, coal plants, and natural gas plants. These places generate the electricity. The Transmission and Distribution Service Providers (TDSPs) transmit the electricity over the wires. They are sometimes called the wire company, and they maintain all the power lines and restore power if it goes out. Retail Electricity Providers (REPs) are merchants who sell electricity to you, the consumer.
REPs like TriEagle Energy purchase shares of electricity from electricity generators. When you sign up with a REP, you pay for the electricity you use. This payment covers the cost of the electricity shares you consume, as well as the use of the wires for it to get to you. All REPs offer multiple plans, allowing you to choose one that best suits your needs. You can choose a month to month plan, which tend have higher monthly rates, and they can go up or down each month (also known as a variable rate plan), but there is no cancellation fee. Longer contract terms will have a cancellation fee if you back out early, and they can last usually anywhere between 3 and 36 months, but the rates tend to be lower and they will stay locked in.
Locked in rates means that if you have a plan for 10 cents per kilowatt hour (kWh) and the cost of electricity goes up a couple cents, you will continue to pay 10 cents/kWh. By the same token, if the price goes down, you will still pay the higher rate. Still, these plans offer a security in knowing more or less what your electricity bill will be each month. You can also choose plans based on whether they offer electricity from renewable sources like solar or wind power. All plans have an Electricity Facts Label (EFL) that will tell you exactly how much renewable energy, if any, is used in your plan.
Shopping for electricity doesn’t need to be difficult or overwhelming. Shop Dallas Electricity will help you find the best deals on cheap electricity rates in Dallas. Remember, ultimately, you have the power to choose the plan and the type of electricity you use, whether it be conventional or renewable. Take advantage of this power and find an electricity provider for yourself today!