Skyrocketing electricity costs? (Houston, Dallas, Austin: living in, zip codes, bill)

[k374]

I got a 36 month offer for 14.6 cents per KwH (1-500 kwh, no additional base charges), can someone tell me if that is a good rate to lock in right now or if I should wait for rates to come down?

I was previously paying 10 cents on a 12 month plan so this is a 46% increase from that which is absolutely insane but at the moment I can't find a better deal.

Wondering if I should lock in the rate or should wait...

[blameyourself]

Originally Posted by k374

I got a 36 month offer for 14.6 cents per KwH (1-500 kwh, no additional base charges), can someone tell me if that is a good rate to lock in right now or if I should wait for rates to come down?

I was previously paying 10 cents on a 12 month plan so this is a 46% increase from that which is absolutely insane but at the moment I can't find a better deal.

Wondering if I should lock in the rate or should wait...

Again, all you really need to do is go to power to choose to compare rates (that's all anyone here could do for you anyway). I would also stop getting so hung up on percentages. If someone was paying $80 per month on average and they had to pay $117 on the new plan, it's not the end of the world and certainly not insane (or that high relative to energy costs on a national basis). To keep things in perspective, people with a 16 gallon gas tank that fill up once a week are paying about $120 a month more than they were 6 months ago. I think they might have something to crow about

[EDS_]

Originally Posted by k374

I got a 36 month offer for 14.6 cents per KwH (1-500 kwh, no additional base charges), can someone tell me if that is a good rate to lock in right now or if I should wait for rates to come down?

I was previously paying 10 cents on a 12 month plan so this is a 46% increase from that which is absolutely insane but at the moment I can't find a better deal.

Wondering if I should lock in the rate or should wait...

Impossible to know but I'd take the deal. If the Russians withdraw from Ukraine gas prices will likely tumble. If not they will stay high. Obviously it's more complex than that but Russia is a pain point.

I agree with blameyourself.....the past is the past. Now is what matters.

[Need4Camaro]

Originally Posted by blameyourself

Again, all you really need to do is go to power to choose to compare rates (that's all anyone here could do for you anyway). I would also stop getting so hung up on percentages. If someone was paying $80 per month on average and they had to pay $117 on the new plan, it's not the end of the world and certainly not insane (or that high relative to energy costs on a national basis). To keep things in perspective, people with a 16 gallon gas tank that fill up once a week are paying about $120 a month more than they were 6 months ago. I think they might have something to crow about

I never really think of that, but yeah.. ..thats true.. I do spend way more in Gasoline than I do on my electric bill even in my high usage months.. ..and I even work remotely.

[HP48G]

The average price of a 12 month contract in north texas went from 9 to 18 cents per kWh. Anyone renewing now will get a big shock in their wallet.

[blameyourself]

Originally Posted by HP48G

The average price of a 12 month contract in north texas went from 9 to 18 cents per kWh. Anyone renewing now will get a big shock in their wallet.

Eh, not seeing it. I just put in 75001 on power to choose just to see if it was that much higher than the Austin metroplex. It's not. The first 3 listed were under 14 cents. If someone gets a big shock out of that, they might want to work on their job skills. As mentioned in the previous post, if spending what amounts to as $1.20 per day to have a comfortable house is shocking, I don't know what to tell you. If you're going to rant about something, at least make it something people can sink their teeth into...like gas prices. Electricity cost are much ado about nothing. It's just not so expensive I would freak out on it and we still have some of the lowest energy rates in the country.

[Rakin]

Fuel Oil and Gas prices have doubled in the last 18 months, since Biden took office.

Those increases will be passed on to the consumer at home and at the pump.

[blameyourself]

Originally Posted by Rakin

Fuel Oil and Gas prices have doubled in the last 18 months, since Biden took office.

Those increases will be passed on to the consumer at home and at the pump.

Uh huh. Already been covered. My question at this point is do people really want an answer to finding electricity prices, which again, aren't actually that much of a hit to the pocketbook as described above, or is there a different narrative in play? I'm guessing the latter. Personally, if I was hurting that bad financially I'd just skip that cup of coffee at Starbucks in exchange for a couple of days of air conditioning. Seems like a no brainer to me. Now gas prices at the pump....yeah, they suck.

[Trainwreck20]

Originally Posted by Rakin

Fuel Oil and Gas prices have doubled in the last 18 months, since Biden took office.

Those increases will be passed on to the consumer at home and at the pump.

Fuel/Gasoline prices are currently driven by refinery capacity shortages, whereas natural gas is 'refined' in the field and is not directly affected by refinery capacity. Our power mainly comes from natural gas and coal and basically zero from refined products, so electric prices will follow a different path than fuel prices.

Producers are reluctant to produce more oil (and the by essentially by-product NG) unless there is more refining capacity. And until Russia/Ukraine figure it all out so they can get their refineries back onto the world market, it will not come down.

[HP48G]

Originally Posted by blameyourself

eh, not seeing it. I just put in 75001 on power to choose just to see if it was that much higher than the austin metroplex. It's not. The first 3 listed were under 14 cents. If someone gets a big shock out of that, they might want to work on their job skills. As mentioned in the previous post, if spending what amounts to as $1.20 per day to have a comfortable house is shocking, i don't know what to tell you. If you're going to rant about something, at least make it something people can sink their teeth into...like gas prices. Electricity cost are much ado about nothing. It's just not so expensive i would freak out on it and we still have some of the lowest energy rates in the country.

lol