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Electricity will be expensive this summer in Texas

Discussion in 'BBS Hangout' started by JuanValdez, Jun 1, 2018.

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  1. Surfguy

    Surfguy Contributing Member

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    yea...I made a conscious decision looking at past bills when shopping for the best rate that I more often than not fall in the 1000 to 1999 range. However, I came up short once or twice in the fall as I was trying to hone in on what I needed to do to use the extra energy I wouldn’t normally use. My answer was to run the pool pump extra hours per day by changing up the timer. I’m not sure how I could pull it off otherwise as I would have to have everything in the house on and running constantly. LOL
     
    #21 Surfguy, Apr 2, 2020
  2. Mr.Scarface

    Mr.Scarface Member

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    I paid $1.29 for gas (Could have been $1.11 if I used cash) at a Citgo on Hwy 6.
     
    #22 Mr.Scarface, Apr 2, 2020
  3. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Is your plan with the tier pricing online somewhere? I’m just curious to see it.
     
    #23 Dr of Dunk, Apr 3, 2020
  4. Mango

    Mango Contributing Member

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    What is the nearest major road crossing Hwy 6?
     
    #24 Mango, Apr 3, 2020
  5. Surfguy

    Surfguy Contributing Member

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    It's the Gexa Saver Supreme...a 3 year contract...I signed up for last year.

    The rates go like:

    500 KWh - 14.5 c
    1000 KWh - 6.7 c
    2000 KWh - 10.3 c

    There is a usage credit of $75 for 1,000 - 2000 KWh usage...which I usually fall into. Then, there is TDU charges ( $.0314 per KWh) and meter charges ($3.42 per month). There is a $295 cancellation fee.

    Honestly, I get very frustrated using powertochoose.org to find plans...so I wanted a 3 year so I don't have to deal with it for a while. This plan is pretty good as long as you hit the sweet spot (1000 - 1999 KWh when the $75 credit kicks in). But, obviously, they stick it to you below 1,000 KWh. It's hard to read between the lines and figure it all out where they are trying to "stick it to you". The TDU charges came out higher than I was expecting per month (based on usage).

    I used 1,053 KWh last month and my bill was $82. That's not bad imo. I'm not sure how much better it could get on another plan?
     
    #25 Surfguy, Apr 3, 2020
    Last edited: Apr 3, 2020
  6. Mr.Scarface

    Mr.Scarface Member

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    10021 SH-6 S
    Sugar Land, TX 77498
     
    #26 Mr.Scarface, Apr 3, 2020
  7. donkeypunch

    donkeypunch Contributing Member

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    The tier thing is pretty standard practice from all the quotes Ive gotten as well. Not as drastic between the usages as Surfguys but there. Powertochoose.org gives plenty of examples.
     
    #27 donkeypunch, Apr 3, 2020
  8. JuanValdez

    JuanValdez Contributing Member

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    What I thought this bump would be about was the disconnect moratorium, but no one mentioned it. If you're low income (an in the Texas competitive retail energy area), lost your job because of covid, or some similar set back, you can apply to the Low Income List Administrator (your electricity provider can tell you how) to be added to the Covid-19 Relief Program. People on the list cannot have their electricity disconnected for the next 6 months. Your retailer would put you on a deferred payment plan. It doesn't mean free electricity (though some of your bad debt will be paid for by a ratepayer-funded Fund). In practice, you can probably dodge the bill and get lots of free electricity, but it'll probably end up on your credit report in the end. So be careful.

    If you'e with a regulated utility, there's probably a program for you too, but you'll have to look it up for yourself.

    Generally yes, but this will be a weird summer. We were expecting tight reserve margins and possible scarcity pricing this summer which buoyed forward prices. Now with covid though, commercial usage is way down and there's a lot of length in the wholesale market. That should depress prices. But, now retailers are going to be afraid of high bad debt from all the unemployment. So they may be reluctant to reduce prices.

    Two things. One, there's some fixed costs with just having a customer -- same cost to bill, same cost to field calls to the call center, etc. So small customers are less profitable than big customers and retailers just want to make prices reflect that. Two, sounds like you're on a gimmick product where they give you a credit for certain amounts of usage. Retailers do that to game the filter on powertochoose.com so the price looks cheap at 1000 kwh. The PUCT chose not to ban them, but did add a filter to the website so you can hide those gimmick products (which is now the default). I encourage people to avoid them unless you really know you can maximize your advantage with one.
     
    #28 JuanValdez, Apr 3, 2020
    Buck Turgidson likes this.
  9. Surfguy

    Surfguy Contributing Member

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    I would be interested in what others out there are paying if they use approx. 1,000 KWh on their plan. Are they doing a lot better than what I'm paying? I've tried those websites where they get your meter number and then make a recommendation on a plan based on your usage history. I can't honestly say I was paying much different as I've compared the bills. Maybe a little savings but in the "peanuts" range.

    I dunno...the whole thing is f*cked! That's why I hate re-upping. It's a zig zag of weaving back and forth into a bunch of tired bullsh*t without a pooper scooper.
     
    #29 Surfguy, Apr 3, 2020
  10. Rocket River

    Rocket River Member

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    Generally . . . up to a 1000 is fixed on my
    like 75$ (.075)
    Then it jumps to something crazy like 20 cents per KW

    1500 = 75 + (500*.20) = 175
    1500 = 1500 * .144 = 216 (arbitrary number I saw)

    So for me to beat my cost with a "normal" plan it would have to be less than 175/1500 = .116

    Rocket River
     
    #30 Rocket River, Apr 3, 2020
  11. JuanValdez

    JuanValdez Contributing Member

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    It's not really that complicated if you avoid the distractions. Electricity is a subscription business. They try to attract new customers with a slim-margin product, and then after the contract expires they roll you to a variable month-to-month product with fat margins and count on you being too lazy to switch. So the answer is simple. Sign a 12-month (12 because there is seasonality to the price, and other lengths might be engineered to look cheap because they only cover the cheap part of the year) fixed price contract with no tiers and no credits, and then when it expires make sure you go back to the market and shop.

    Usually what I'll do is find the cheapest reputable product on ptc.com and then call my own provider and ask them to beat it. If they will, I stay; if they won't, I switch. But the one thing you want to avoid is doing nothing. If you don't want the hassle of switching who you write the check to, look up your own supplier's acquisition price on ptc.com, call them, and ask for that. It'll be cheaper than the renewal product they offer in the renewal letter they mail you.

    Right now in Houston, you should pay 9-10 cents/kwh at 1000 kwh. Prices move around a bit with the wholesale market, but that all comes out in the wash. The only thing you need to control for is avoiding renewal rates.
     
    #31 JuanValdez, Apr 3, 2020
  12. DonkeyMagic

    DonkeyMagic Contributing Member
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    I just locked in a 9.6/1000kwh and 9.3/2000kwh for 2 years. I paying around 11 cents/kwh before. We average ~ 1600kwh for the year. The 12 month was actually marginally cheaper but I didn't want to worry about re-upping again in 12 months. I always forget and end up getting the higher monthly charges for a while before I realize what's happening.
     
    #32 DonkeyMagic, Apr 3, 2020
    Rocket River likes this.
  13. Houstunna

    Houstunna The Most Unbiased Fan
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    Need more windmills !!
     
    #33 Houstunna, Apr 3, 2020
  14. Amiga

    Amiga 10 years ago...
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    Enough ppl forget or don't know to the tune of Billions. Deregulation scam.
     
    #34 Amiga, Apr 3, 2020
    Rocket River likes this.
  15. Rocket River

    Rocket River Member

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    Not tiers mean no jump in price after say 1000 kwh? right?
    what do you mean no credits?

    Rocket River
     
    #35 Rocket River, Apr 3, 2020
  16. JuanValdez

    JuanValdez Contributing Member

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    The aim for these retailers is to show a low price at the selected volume level, usually at 1000 kwh. There's 2 methods I know of to get there. One is tier pricing where you charge different prices for different amounts of consumption. The other is to charge energy charge, but give customers a credit for a certain amount of consumption so that the effective price at 1000 kwh looks low (and, hey, who can complain about getting credit!?). There's still plenty of honest retailers out there that offer honest, transparent products.

    For some people who have weird usage patterns or a preternatural understanding of their consumption, they can save money with these complicated products. Open the Energy Facts Label on what you're going to buy. If you're a regular guy, there should be an energy charge, maybe a base charge, and then the transmission and distribution charges from the utility and taxes. If there are tiers, credits, or anything like that, you don't need that complexity that is only there to create these jumps in price.
     
    #36 JuanValdez, Apr 6, 2020
  17. Rocket River

    Rocket River Member

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    What are our expectations this summer (2020) ?

    Looks like it will rise significantly.
    I am thinking of changing companies because
    when you new to a company they give you a great rate
    When you just reup with the same company they don't give you the new folx rate

    Rocket River
     
    #37 Rocket River, Jun 19, 2020
  18. Buck Turgidson

    Buck Turgidson Member

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    Hydroelectric power for the win!

    Or I guess I could start burning coal.
     
    #38 Buck Turgidson, Jun 19, 2020
  19. donkeypunch

    donkeypunch Contributing Member

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    Just 2 weeks ago I was looking at prices and it was UNDER 0.08 kwh, now everything is over 0.09.
     
    #39 donkeypunch, Jun 19, 2020
  20. Blake

    Blake Contributing Member

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    Electric prices are a function of 1) nat gas prices and 2) demand in season (99% sure...I'm sure an energy trader will know more than me). The key is to get an off-peak renewal in the winter or early spring. So sign up for a short-term plan now if you have to and then renew in 6 months when it is up and prices should be cheaper. I don't see Nat Gas improving anytime soon so just best not to renew in summer
     
    #40 Blake, Jun 19, 2020
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