Fort Worth Electricity Rates

Contents

1 Fort Worth Electricity Rates
2 How to Shop for Electricity Rates
3 Understanding the Electricity Facts Label
4 Fixed vs. Variable Energy Plans
5 Choosing a Retail Energy Provider that fits your Needs
6 Green Mountain Energy
7 ClearView Energy
8 Direct Energy
9 Texpo Energy
10 Ambit Energy
11 Amigo Energy
12 APG&E Energy
13 View by City
14 Clean Energy
15 Electricity Rates

If you recently moved to Fort Worth, then you will be happy to know Forth Worth offers some of the most competitive electricity rates in the country. Located just 32 miles west of Dallas, Fort Worth’s population has grown to more than 900,000 and is currently the fifth-largest city in Texas.

It should be no surprise Fort Worth residents enjoy some of the lowest electricity rates in the country. Texas leads the nation in the generation of electricity, generating twice as much as Florida, the second-highest electricity-producing state. The state also has no shortage when it comes to renewable energy sources. As of 2019, Texas produced 28% of all U.S. wind-powered electricity, more than any other state.

Fort Worth residents fall under the service area of the Oncor Utility Company. Oncor is the largest utility company in Texas and the fifth-largest in the United States. The main job of the utility company is to maintain the power lines that deliver the electricity to your home or place of business. Any power outage or disruption of service should be reported to Oncor.

How to Shop for Electricity Rates

If you’re shopping for electricity rates for the first time the chances are good you recently moved to Fort Worth from a city or town that was regulated. In a regulated city, the utility company handles both the delivery and supply charges on the electric bill. This prevents the customer from shopping around for a lower supply rate.

Thanks to Texas Senate Bill 7 (SB7), Fort Worth residents have the option to shop for a Retail Energy Provider (REP) and lower their electric bill. With well over a dozen energy suppliers based in Texas, it is important to read the Electricity Facts Label (EFL) to make sure you understand the rate you signed up for. Retail energy providers in Texas are required by the Public Utility Commission of Texas to display the EFL for all rate plans being advertised.

Understanding the Electricity Facts Label

The Electricity Facts Label provided by the energy supplier is a document that outlines specific details of the energy plan including the price, contract length, and any additional fees. The customer needs to read and fully understand the EFL before signing up for any rate plan.

Energy Price – The energy price lays out the average price the customer will be paying per kWh during the term of the contract. In a “bundled energy plan,” the price will include the energy charge, base charge, and the transmission and distribution utility delivery charges.

Contract Length – The EFL will also include how long the term of the contract will be for. The most common terms include 12, 24, and 36 months durations. Depending on risk tolerance, most customers enjoy locking in a long-term fixed-rate plan.

Additional Fees – Retail Energy Providers can hit customers with additional fees. A cancellation fee is common among energy suppliers that offer fixed-rate plans. You may also be hit with additional charges for going over or before a said usage each month.

Fixed vs. Variable Energy Plans

Everyone wants to pay the least amount of money per month on their energy bills. Paying the lowest amount requires knowing exactly which rate plan will save you the most money. The two most common energy plans offered by retail energy providers are the fixed and variable rates.

Fixed Rates – Fixed rates do exactly what they say. The price per kWh will remain fixed for the duration of the contract. Lowering the monthly bills requires the customer to cut down on their energy usage. For those on a tight budget, fixed rates allow the customers to forecast a budget knowing exactly how much they will be charged per kWh each month. Most fixed-rate plans will come with a cancellation fee if the customer switches energy providers before the expiration of the contract.

Variable Rates – Variable rates will fluctuate on a month-to-month basis. It is not uncommon for Retail Energy Providers to offer low introductory variable rates. These rates can change at the sole discretion of the provider. Variable rates often come in a month-to-month plan and the customer can cancel anytime without paying a cancellation fee.

Choosing a Retail Energy Provider that fits your Needs

Retail Energy Providers can specialize in different areas. Depending on personal preferences, a customer may choose a supplier based on energy plans offered or outstanding customer service. For example, Green Mountain Energy and ClearView Energy offer 100% renewable energy plans. Renewable energy products generate their power through renewable sources such as wind power, solar power, and hydropower. If you’re looking to cut down on your carbon footprint, selecting an energy plan from one of these providers may prove to be a good choice.

Other Retail Energy Providers generate power through conventional resources such as coal, nuclear power, and natural gas. These energy suppliers can provide very competitive pricing along with outstanding customer service. If you’re looking at receiving the lowest supply rate possible then choosing from these energy suppliers may be right for you.