What is the Current Trend for Electricity Rates in Dallas?
As a resident in the Oncor service area, you know that summer isn’t just hot, it’s constantly hot. But what you may not know is that summer doesn’t always mean higher electricity rates. And with summer cooler this year, energy prices are expected to stay low as long as it doesn’t get too hot. If you’re a Dallas electricity customer, you’re wondering whether or not it’s the right time to switch your energy provider, the answer is: it depends.
How Cheap Is Dallas Electricity?
It may shock you to know that the average price for energy is cheaper now than it was in April. The current average price for energy rates in Texas (as of August 5th) is 9.1 cents per kWh. Looking at the historical rates for electricity in Texas, you can see the price for energy in April was 9.9 cents per kWh. And if you go back a full year, the average price for electricity was 10.2 cents per kWh.
Why Are Energy Rates Lower Now?
So, electricity rates are lower now than they have been recently for the most part. In fact, in February, the average price for energy was 12.1 cents per kWh. This means that despite being in the dead heat of summer, rates are lower than they were at the end of winter.
Why? Supply and demand drive energy prices in Texas’ deregulated energy market. When demand is higher, costs go up. And winter and summer months usually have higher energy rates because demand is higher. Heating and cooling homes take energy and drive the cost up. But in the shoulder months, costs dip down lower. And prolonged, cooler periods of weather can lower demand and with it the cost of electricity.
Will Dallas Electricity Rates Stay Cheap?
The only constant in any market is change. Right now, electricity is cheaper because demand is lower. But that can change drastically if the weather changes. Because prices fluctuate in response to demand and weather, you should always be on the lookout for the cheapest energy rates in Dallas.
Should I Switch Energy Providers Now?
Knowing when it’s time to switch energy providers in Texas can be challenging. Generally speaking, you want to aim for the cooler shoulder months in fall and spring. But that doesn’t mean that prices can dip lower during high demand months. The key is keeping an eye on the market and switching to cheaper electricity rates when you find the right plan.
And a simple way to do this is to use both the Texas Electricity Rate Analyzer and the Plan Picker 3000 to compare your current plan against ones being offered by Texas energy companies. You’ll be able to quickly see what your best options are.
How Do I Shop for Dallas Electricity Providers?
Remember that you have the power to choose the best energy provider for your household in Texas. But shopping for and switching to a better electricity provider in Dallas isn’t always easy. With so many providers out there and so many plans, you could end up lost in well over 100 plans. Visit www.texaselectricityratings.com for an easy way to make this easier on you and find the right plan for your energy needs.