Texas Electric Companies Put Power in Your Hands - NEC Coop
Feb 22, 2023 — Resources
Thanks to the deregulated energy market, many Texas residents benefit from the freedom to choose their electric provider.
The power to choose your own Texas electric company comes with both freedom and responsibility. There are countless energy plans out there, and when people move to the Lone Star State, they are amazed by the wide array of selections offering electric services. Several regions and states offer only one electricity company and thus, no consumer choice.
Texas electricity companies are different, and the benefits brought on by its deregulation have revealed that Texas energy laws are better for its consumers.
Energy deregulation in Texas
There are 23 states in Texas that allow the power to choose in the energy market. Before the deregulation, Texas observed a monopoly in terms of energy production, and this equates to higher rates and very minimal incentive to embrace technological advancement and change. Since the deregulation in 2002, many electric companies have been established to serve the needs of the consumer in many innovative ways.
Competition among Texas electric companies
Consumers in Texas find the competition among energy firms advantageous in two ways. First, companies need to compete for the lowest rates since they are aware that consumers will go and take their business somewhere else if their offerings are not competitive. Second, the competition gives an opportunity for electricity companies to innovate their pricing structure. This is beneficial for consumers since they can choose an electricity plan that suits their needs, ensuring that the prices and rates fit their budgets.
With the increasing energy costs before the deregulation, Texas consumers do not have a choice, and there is so little they could do. It was THE electric company – or nothing. When the market opened, Texas electric companies started paving the way in energy efficiency, offering customers more options as well as helpful information and recommendations on reducing their energy use.
Modern technology = modern electricity
The development of the smart meter prompted many changes in the electric industry. Smart meters gather information on the consumers’ energy consumption, and this makes it easier for them to switch energy suppliers. It offers a great base for a number of other smart devices, maximizing both consumer comfort and energy efficiency.
New ways to save
Another notable benefit of electricity deregulation is that companies are always on the lookout for ways to acquire new customers and retain old ones. Electric companies team up with other local businesses and companies to offer cross-promotions and many perks, which means that the Texas consumer can save on much more than their utility bill. Such offerings help companies stand out from their competitor in a crowded market and help establish a better relationship with their customers.
As a Texas electric company, NEC Co-Op Energy not only offers recommendations for energy efficiency, our members enjoy honest prices, friendly service, and awesome rewards and perks! Learn more about why we’re voted the #1 Electricity Provider by the Corpus Christi Caller Times’ Best of the Best.
“Texas’ electric bargain: A deregulated market brought fast growth, big investments and cheap rates,” Dallas Morning News, https://www.dallasnews.com/business/energy/2021/02/21/texas-electric-bargain-a-deregulated-market-brought-fast-growth-big-investments-and-cheap-rates/
“Deregulation of the Texas electricity market,” Wikipedia, https://en.wikipedia.org/wiki/Deregulation_of_the_Texas_electricity_market