Texas Still Leads in Green Energy Sources
ERCOT forecasts a summer peak demand of 82,739 MW. And to meet this demand during AC season, ERCOT’s additional 9.1 GW power grid capacity from 2022 will be very useful. And better yet, this added capacity comes from renewable sources. This doesn’t just secure Texas’ place as the leader of green energy sources in the US. It can also reduce Texas electricity prices.
What Green Energy Sources Mean for Dallas Consumers?
While no coal-burning plants will likely be retired in ERCOT this year, more power is generated from renewable energy than coal. In fact, in March 2022, wind power was the 2nd largest energy generation source in the US. And Texas is famously the leader in wind power.
Apart from the pride Texans can feel for environmental protection, this directly benefits consumers. Especially since ERCOT also has a battery capacity of 4,459 MW to satisfy the peak summer 2023 demand prediction. And having more supply has a great effect on prices.
Consumers in Texas may see significant price drops for electricity this summer. Plus, with the predicted fall of natural gas prices, you’ll likely find good deals as early as the Spring shoulder months.
Will We See Spring 2022 Prices Again?
Power prices more than doubled between the summer of 2021 and summer of 2022. We reached the peak in historical energy prices in September 2022. So, there is a good possibility for cheaper electricity. However, will energy prices ever return to how they used to be?
Two years ago, the average rate for a 12-month plan in Dallas was 11.2 cents per kWh. Today, the average rate is closer to 16.1 cents per kWh. Although we have seen a steady decline since the September peak, energy prices still have a ways to go before they return to normal. But for now, we’re on track to see Spring 2022 prices again.
When to Shop for Electricity in Texas
If you’re shopping for a new plan right now, it may be worth monitoring the prices before you commit. The Spring shoulder months are close, and you’ll likely find much better rates in April than you would now. Waiting a short term can mean more savings long term.
If your plan has just expired, and your current provider doesn’t offer a favorable rate, the Energy Texas Monthly variable rate is definitely worth considering. Currently, Dallas-based customers can take advantage of its 10.1 cents per kWh energy charge for 1000 kWh monthly average usage. At that rate, your monthly estimated electricity bill would be only $95.
Switching providers to sign onto a fixed rate plan for 3 or 4 months and cancelling might not be worth it. True, the Energy Texas plan is a variable rate. But while there’s no guarantee the price will be the same next month, the current price trend still makes it a good bet.
But How to Find the Best Deals
The best way to save money on electricity is to compare the current deals and choose the best one for your household. And the best place to do that is at https://www.texaselectricityratings.com. You can view all the current electricity deals in your area, monitor the prices, and commit when you see the predicted price drops. Although the Spring Shoulder Months are still a few months away, hopefully, the wait will be worth it.