Odessa Electricity Rates
Odessa electricity rates fall under the Oncor Utility service area. Thanks to deregulation, Odessa is just one of the many cities in Texas where residents can choose their electric supplier. Opening the door to competing energy suppliers will push down prices. Before the electricity markets became deregulated, the local utility company had a monopoly over the delivery and supply charges. If a customer was not satisfied with their utility company, there was nothing they could do. Energy choice has given Odessa residents a voice in the energy market with positive results. Texans now enjoy some of the lowest rates in the country.
The city of Odessa is located halfway between Dallas and El Paso and has a population of just over 120,000. The city is part of the Permian Basin region which contains the Mid-Continent Oil Field province. The region has produced more than 14.9 billion barrels of oil since the beginning of 1993. Odessa serves as the headquarters for companies serving in the oil production industry along with Midland and San Angelo.
Oncor Utility Serves Odessa
If you just recently moved to Odessa, then you may have noticed the electric bill comes from Oncor. Oncor is the utility company in Odessa that is in charge of maintaining the lines and wires to safely deliver the electricity to its customers. The delivery charge in Texas is known as the Transmission and Distribution Utility (TDU) charge. This represents the regulated portion of the electric bill and is overseen by the Public Utility Commission of Texas. Given the logistics involved, it will be impossible to have another utility company to deliver the power to your home or business.
Contact Oncor for Power Outages
All power outages can be reported to Oncor. The utility company will be responsible for fixing any issues with power loss. The most common cause of power outages in Texas is severe weather. Thanks to advancements in the power grid system, outages can usually be detected and resolved right away. If you need to report an issue, contact the number below.
- Oncor Contact Information: 1-888-313-4747
Understanding Energy Choice
The electric bill is split up between two main sections that include the Transmission and Distribution Utility (TDU) charge and the supply charge. As mentioned above, the TDU charge is the cost of delivering the electricity to the consumer and is charged to the customer by Oncor. The supply charge is the cost of generating the electricity the customer is estimated to use during the term of the agreement. This represents the deregulated section of the electric bill. The consumer can shop around for a lower supply rate and save money on the electric bill.
The most common method of billing is called single billing. This means when the customer switches to another energy company they will still receive one electric bill from the utility company (Oncor) that incorporates both the TDU and supply charges. If you have a question regarding the supply charges, then you will need to contact the electric supplier that you signed up with.
Select the Right Energy Plan for your Home or Business
One of the great benefits of energy choice is the options that become available to the consumer. Energy suppliers will offer a variety of energy plans for the consumer to choose from. To have a better understanding of these energy plans the consumer will have to review the Electricity Facts Label (EFL) from each supplier. Every energy supplier is required to provide the EFL to the consumer upon request. The EFL will include important information such as the rate type (fixed or variable), term length, early cancellation fee, and any other charges that are included in the plan.
Fixed Rates vs. Variable Rates
These two product plans appear to be the most popular among consumers. So which rate plan is right for you? Your decision might be dependent on the energy market. The energy market is extremely volatile and electricity rates can easily change from one year to the next. Choosing between a fixed or variable rate plan is largely based on the customer’s risk tolerance.
Fixed rates do exactly what they say. If the energy market spikes up the customer will be protected. On the other hand, if the energy market drops, the customer may end up paying a higher rate. Locking in a long-term fixed rate may be the better option if you’re on a budget. The total cost of the electric bill will be dependent on the energy usage which the customer has control over. These rate plans are the most popular with consumers who want the comfort of knowing exactly what the supply rate will be on the electric bill.
Variable-rate plans change from one month to the next. It is common for energy suppliers to lure a customer into a variable rate plan by offering a low introductory rate. Don’t be surprised if the rate doubles or even triples during the term of the agreement. However, most variable rate plans do not come with a cancellation fee. This means the customer can switch electric suppliers without being penalized. Variable-rate plans may be good for customers who do not want to be locked in for a long-term agreement.
Green Energy Plans
Another benefit for Odessa residents living in a deregulated energy market is the ability to choose a green energy plan. Green energy plans are considered more environmentally friendly compared to the conventional methods of power generation that include coal and fossil fuels. This method of power generation comes from sources such as wind, solar, and hydropower. If you live in Odessa and looking to cut down on your carbon footprint, then you can qualify for a 100% renewable energy plan from one of the many energy suppliers in Texas.
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