Electric prices in Texas are staying low in their respective service areas. This week we again highlight the short-term superstars: three-month plans.
Since our last update, six-month
and two-year plans
plan prices have remained characteristically low for this time of the year, but three-month plans have continued a steeper decline, dropping nearly $3 a month on average in the last two weeks. Currently, three- and six-month plans are both the statewide low-price leaders, with an average monthly cost of $95
From a cost-savings perspective, for some consumers whose plans are expiring, it could be worthwhile to sign up for a three-month plan now, and then look into a six-month plan after that (in February), while six-month prices are typically still low. This would potentially allow those consumers to keep a low-cost plan over the winter and then lock in another relatively low rate that would carry them to the end of the hot, summer months
(read: higher prices).
While this may not be a perfect
strategy for your household, it's always a good idea to examine how a specific contract length can affect you when it's time to renew again, good or bad.