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Texans: Consider Locking in Electricity Prices Now – They Could Rise Soon

If you live in Texas, now might be a good time to start thinking about locking in your electricity price.

In February, both the Public Utility Commission of Texas (PUCT) and the Electric Reliability Council of Texas (ERCOT) told state lawmakers that there is likely not going to be enough electricity supply to meet demand this summer. It’s a problem that can hurt electricity customers in the state who wait to sign up for fixed-price plans.

“Basically, what ERCOT and the PUCT told lawmakers was that falling natural gas prices are hurting the construction of new power plants that are desperately needed to meet the electricity demand in Texas,” said Jim Head, Spark Energy Vice President of Marketing and Sales. And whenever supply fails to meet demand, the price of electricity usually increases.

“Once electricity prices rise, the only thing that electricity customers can do to help offset the increase is to use less electricity or spend money on energy efficiency improvements,” Head said. “What people should really consider doing is looking at their options for locking in their electricity price before prices have a chance to increase.”

Sources

Top Texas Officials Warn of Power Plant Shortages,”Fort Worth Star-Telegram, Feb. 9, 2012.

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*Certain Terms and Conditions apply. This offer is available to first-time customers only. Customers must sign up for a fixed-rate energy plan. The plan may include a monthly service fee depending on the product. Use promo code which is showing above to qualify. Rate expires at the end of the term. Canceling or changing supply service prior to the end of the fixed-rate term may subject the customer to an early termination fee based on the product details. To be eligible to receive Spark Energy rewards, customers must enroll in a fixed term plan and maintain an active Spark Energy account in good standing (no past-due balance owed) for 45 days after the beginning of service. May not be redeemed for cash. This offer is subject to change or cancellation without notice prior to customer acceptance. This offer is nontransferable and cannot be combined with any other offers. This offer applies to services areas where Spark Energy LLC is active. The offer expires on 12/31/2020. See the Terms of Service and Electricity Facts Label (applicable only for TX) at www. SparkEnergy.com for more details.
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