Are Texas Electricity Rates Going Up?

Are Texas Electricity Rates Going Up?

Brian A.

Brian A.

Energy Advisor

rates-going-up

 

Texas has historically been one of the lowest-priced states when it comes to electricity and natural gas rates. In fact, electricity rates in Texas have been rated some of the lowest in the United States. Texas was voted the 46th cheapest state for electricity out of all 50 U.S. states, with Wyoming coming in at number one. The average monthly electricity bill in Texas is about 43% cheaper than that same bill in Wyoming. ERCOT, the electric grid operator in Texas, regulates Texas electricity prices and has created a very efficient market where prices are nationally very low. 

 

Recent Spike In Prices

 

In 2022, however, Texas has seen a spike in the price of electricity, just like the rest of the United States. Since most electric power in Texas is generated by using natural gas, power prices closely follow natural gas rates. And in 2022, natural gas prices are higher than they have been since 2009. This spike in energy prices is due to many factors:

 

  • Less supply in the U.S. market and increased demand after Covid
  • More exportation of U.S. liquid natural gas to Europe
  • The Russia-Ukraine War has increased U.S. natural gas exports to Europe driving prices even higher

 

Recently, the Texas Tribune reported that Texans are paying nearly 50% more for electricity this year than they did last year. These facts and more have many Texas scrambling to find cheaper power options. 

What Does The Future Hold?

 

While no one has a crystal ball to predict the exact prices of electricity in Texas in the future, there are some indications that can lend a guide as to where the price of power is headed. In Texas, nearly 50% of all electricity comes from natural gas. So, if you follow the price of gas, then you can predict the price of electricity. 

 

Support For An Increase In Rates


Some experts are calling for a very harsh Winter in 2022 through 2023. Colder than normal temperatures will certainly drive up demand for natural gas, and when demand increases, prices usually follow. If the Winter is cold, then expect high electricity rates until the Spring.

 

Support For A Decrease In Rates


If the Winter is milder and tensions in Europe ease up, then there will be less demand for U.S. natural gas. With new supply hopefully coming into the market, this could lead to a drop in gas prices, and electricity rates would then follow. 

 

Need An Expert Opinion?

 

If you are looking for an energy expert who can lend some guidance as to the future price of electricity in Texas, then contact us today. Our team of energy advisors has been following the trend of power prices for the last decade, and we have the data to back up our advice. Looking for a better rate for your home or business in Texas? Shop the top Texas electric rates below:

AEP Texas Central Electric Rates

Best AEP Texas Central Electric Rates - Residential
  1. 1 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    12.10¢

    per kWh
    At 1000 kWh

    13.00 ¢

    PER kWh
    At 500 kWh

    11.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.70 ¢

    PER kWh
    At 500 kWh

    13.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.40¢

    per kWh
    At 1000 kWh

    15.40 ¢

    PER kWh
    At 500 kWh

    13.90 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.70¢

    per kWh
    At 1000 kWh

    15.70 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.80¢

    per kWh
    At 1000 kWh

    15.80 ¢

    PER kWh
    At 500 kWh

    14.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

AEP Texas North Electric Rates

Best AEP Texas North Electric Rates - Residential
  1. 1 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    11.60¢

    per kWh
    At 1000 kWh

    12.50 ¢

    PER kWh
    At 500 kWh

    11.10 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    13.30¢

    per kWh
    At 1000 kWh

    14.30 ¢

    PER kWh
    At 500 kWh

    12.80 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.60 ¢

    PER kWh
    At 500 kWh

    13.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 24 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    14.40¢

    per kWh
    At 1000 kWh

    15.40 ¢

    PER kWh
    At 500 kWh

    13.90 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 18 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    14.60¢

    per kWh
    At 1000 kWh

    15.60 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

CenterPoint Electric Rates

Best CenterPoint Energy Electric Rates - Residential
  1. 1 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    12.60¢

    per kWh
    At 1000 kWh

    13.50 ¢

    PER kWh
    At 500 kWh

    12.10 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    12.70¢

    per kWh
    At 1000 kWh

    13.60 ¢

    PER kWh
    At 500 kWh

    12.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.10¢

    per kWh
    At 1000 kWh

    15.00 ¢

    PER kWh
    At 500 kWh

    13.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.70¢

    per kWh
    At 1000 kWh

    15.60 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.80¢

    per kWh
    At 1000 kWh

    15.70 ¢

    PER kWh
    At 500 kWh

    14.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

Oncor Electric Rates

Best Oncor Electricity Rates - Residential
  1. 3 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    11.10¢

    per kWh
    At 1000 kWh

    11.90 ¢

    PER kWh
    At 500 kWh

    10.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  2. 1 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    12.10¢

    per kWh
    At 1000 kWh

    12.90 ¢

    PER kWh
    At 500 kWh

    11.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  3. 36 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.20¢

    per kWh
    At 1000 kWh

    14.00 ¢

    PER kWh
    At 500 kWh

    12.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.50 ¢

    PER kWh
    At 500 kWh

    13.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.80¢

    per kWh
    At 1000 kWh

    14.60 ¢

    PER kWh
    At 500 kWh

    13.40 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

TNMP Electric Rates

Best TNMP Electric Rates - Residential
  1. 1 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    13.10¢

    per kWh
    At 1000 kWh

    14.30 ¢

    PER kWh
    At 500 kWh

    12.40 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    13.20¢

    per kWh
    At 1000 kWh

    14.50 ¢

    PER kWh
    At 500 kWh

    12.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    14.60¢

    per kWh
    At 1000 kWh

    15.90 ¢

    PER kWh
    At 500 kWh

    14.00 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    15.20¢

    per kWh
    At 1000 kWh

    16.50 ¢

    PER kWh
    At 500 kWh

    14.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    15.30¢

    per kWh
    At 1000 kWh

    16.60 ¢

    PER kWh
    At 500 kWh

    14.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

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