Waco Electricity Rates: Compare Prices Fast
Waco is a small city in central Texas, with a population of around 273,920, making it the 22nd most populous city in the state. Due to state-wide energy deregulation, Waco residents can choose from several electricity plans by the various electricity providers that cater to the region. Residents can also save on energy by comparing multiple Waco electricity rates and choosing the best energy plan for their needs.
General Information on Waco Electricity Rates
The state of Texas is the biggest energy producer in the United States and relies mainly on coal, natural gas, and crude oil, for fuel. However, recently, the state implemented the biggest wind energy-generation project in the country. Additionally, renewable energy demand is increasing, especially in bigger cities like Houston and Dallas, and more electricity companies are offering green energy plans, albeit at a higher per kilowatt-hour (kWh) rate.
For all Waco residents, your electricity bill is divided into two main categories – supply and delivery services.
Supplier service is simply the process of electricity generation. The electric rates of suppliers depend on the cost of electricity generation, and that can depend on the method of production. The retail electricity companies in Waco include TXU Energy, Frontier Utilities, First Choice Power, Payless Power (SmarTricity Premier), Green Mountain Energy, 4Change Energy (Maxx Saver), TriEagle Energy, Just Energy, Direct Energy, Reliant, and Pulse Power.
Each electric company offers various energy plans, plan lengths, and rates.
Your local utility company provides electricity delivery services. The utility company is also known as the Transmission and Distribution Utility (TDU) provider, or Transmission Distribution Service Provider (TDSP). Furthermore, the local TDU delivers electricity, manages power lines, and handles power outages.
The primary charge is the TDSP Delivery Charge. Other charges include the Gross Receipts Reimbursement Charge and the PUC Assessment. You may also find non-recurring fees for items such as a new service initiation.
Customers in the City of Waco have Oncor Electric Delivery Company as their default local utility services provider.
You can learn more about Waco electricity rates and tariffs here.
Energy Deregulation and How It Affects Waco Electricity Rates
he State of Texas deregulated energy supply in 2002. Energy deregulation allows all Waco residents to choose a retail electric provider (REP). You can find different energy providers offering competitive energy rates via a number of electricity plans.
Due to commercial electricity markets, Texas electricity prices have been reduced below the national average. However, green energy plans may have higher rates compared to traditional plans.
If you don’t choose an energy company, you will receive Oncor’s standard offer delivery or a Provider of Last Resort (POLR) plan. Your default energy rate is your Price to Compare, which is regulated and approved by the PUCT.
You can use the Price to Compare to see what energy company is offering the best energy services, electric plans, and prices.
Finding the Best Waco Electricity Rates
Every Waco customer can choose their REP for electric service. Some REPs offer low rates, while others offer average prices with additional services.
In any case, you can compare the energy plans, electricity service, and rates of each REP, in order to make an informed decision. You can try to shop for rates yourself, but look out for the fine print, hidden fees, and any possibilities of escalating rates (once your term ends).
Alternatively, you can use Arbor’s free TrueRate Protection service to automatically find and switch to the best Waco electricity rates in your area.
Arbor scans the market and gives you the best rates you can get in your service area. When your contract term is expiring, Arbor finds the best rate and switches you again. You always pay the best rate and never have to worry about overpaying for electricity ever again.
You can also use the free savings calculator to find out how much you could save in each case.
Understanding Waco Electricity Rates and Plans
All retail electric providers offer different term lengths, rates, and plan features. Some offer additional benefits such as free nights, charge based on average energy usage, and auto-pay options.
Changing your REP is easy. Simply get a copy of your energy bill to check your current REP and electric rate. You can use Arbor to find the best rate in your area and switch to the lowest cost supplier quickly to save time.
Furthermore, you can use Arbor to find the best rate in your area by using our free savings calculator.
Furthermore, you will find different types of plans depending on the companies. These are the three plan options you’ll find in Waco.
- Fixed-Rate Plans: Fixed-rate plans are not affected by the fluctuating energy market rates. You pay the same rate throughout your contract term. We recommend fixed-rate plans because they provide price certainty and minimize risk. But be careful: when your term expires, your rate becomes variable and can go up without notice. Arbor automatically keeps you on the best fixed-rate plan, so you don’t have to worry about rate hikes at the end of your term.
- Variable-Rate Plans: Variable-rate plans depend on current wholesale electricity prices. You may end up paying a different rate each month. When demand is high, you will be paying higher electricity rates, and when demand is low, you’ll have lower rates.
- Prepaid Plans: Prepaid plans let you pay for your electricity usage beforehand and save you the hassle of making monthly payments. When you ‘deposit electricity,’ you can avoid credit checks and financial deposits.
Some plans may ask you for a deposit. However, plans available through Arbor never require a deposit.
How to Choose the Right Energy Supplier
As a Waco resident, you will get delivery services from the Oncor Electric Delivery Company. However, you can choose from several REPs. Furthermore, you can use the Price to Compare or your current rate and compare it with energy plans offered by other REPs.
You should check what each plan offers in terms of benefits, savings, and additional services, as well as which plans offer the best rate.
You can also check out how you can save on your energy bill with Oncor. But bills and electric plans are complicated, which is why people trust Arbor to manage their electricity service for them, ensuring that they always pay the best electricity rate available in Waco.