Consumers in Houston, Dallas, Fort Worth and Corpus Christi were promised bargains on electricity when the Texas Legislature deregulated the electricity market. But 16 years later they're still paying more for electricity than their counterparts in cities Texas lawmakers exempted from deregulation such as Austin and San Antonio, according to the Texas Coalition for Affordable Power which analyzed federal electricity pricing data.
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But competition didn't necessarily end up cutting prices, according to the report. One contributing factor is confusion among customers as they try to choose among scores of retail electricity providers and the overwhelming variation of plans, leading many to just stick with familiar companies rather than look for better deals, according to the Texas Coalition for Affordable Power .
Direct Energy is one of North America’s largest energy and energy-related services providers with nearly 5 million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE:CNA), one of the world’s leading integrated energy companies, Direct Energy operates in 46 U.S. states plus the District of Columbia and 10 provinces in Canada.
Fixed-rate, long-term (contract) plans provide stability in electricity rates. If market energy costs suddenly trend upward where you live, you can rest assured that you won’t have to pay more out of pocket. However, if you want to switch to a different, lower-cost plan before the end of the contract term, you’ll likely have to pay a cancellation or early termination fee.