Gabe C
Feb 20, 20202 min
Updated: Apr 4, 2023
Indeed, the summer is around the corner. Honestly, so far, this winter has been very mild. Yes, we had a couple of snowy days, however, we have not experienced any winter vortexes or crude winter storms. With that said, I believe that we will experience a really hot summer.
The energy rates are calculated with many variables. In fact, all electricity companies have their own way to calculate a rate and an energy plan. Including the rates, we can say there is the price for energy by itself, then we have all the human interaction like customer service representatives, sales teams, managers, accounting, etc. Then we can account for the systems they use, platforms, clouds, etc. Also, we need to consider communication systems, the customer and the energy company need to communicate constantly. Utility charges need to be considered too. More importantly, we need to understand that energy prices fluctuate.
Energy prices change constantly, more than you can imagine. Actually, energy prices change every day. Either way, the electricity companies calculate all this fluctuation and take a risk by setting a fixed energy rate. If, for some reason, the energy wholesale price spike and the energy company did not calculate this correctly and the wholesale price spikes, this electricity company easily can go bankrupt.
Texas is in 6th place as the cheapest electricity in the US
By the way, let me say that Texas holds the 6th place in electricity prices. I mean, Texas is the 6th state in cheapest energy prices in the US. Texas's average energy price is around 11 cents per kilowatt-hour. Consider this, California's average electricity price is 23 cents per kilowatt-hour, and Hawaii's is a whopping 27.5 cents per kilowatt-hour.
To conclude. Texas electricity companies are getting ready for an energy price rise and you should too.
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