Mckinney, TX Electricity Rates
Mckinney electricity rates depend on a variety of factors, including how much electricity you use, when you use it, market conditions and where you are located. Much of the Texas electricity market is open to competition, which means you may have the opportunity to shop for better electricity rates in Mckinney. Enter your ZIP code above to see Mckinney electricity rate plans available near you.
Compare Electricity Rates: Mckinney, TX
If you live in a competitive market, you may find it difficult to compare electricity rates. Mckinney customers can choose from a variety of electricity suppliers, who may all claim to offer the best Mckinney electric rates. The first step in narrowing down your options for Mckinney electricity rate plans is to understand the basic types of rates offered.
Types of Electricity rates in Mckinney
Most Texans are used to variable rate plans, which simply means your Mckinney electric rates change month-to-month depending on market conditions. Variable plans change constantly, but do not require an extended commitment from the customer.
Fixed rates plans are an alternative to variable rates and are becoming more popular across cities like Mckinney. Electricity rates under a fixed plan are secured for an extended period of time. That means your Mckinney electric rate will remain stable throughout the term of a contract.
Indexed rates are a third option you may see in Mckinney. Electricity rate plans with indexed rates are based on a specific formula determined by your retail electricity provider.
Understanding Deregulation in Mckinney
In a regulated market, one utility company provides you with all aspects of your energy service. Your local utility company passes the standard market energy prices directly on to you, in addition to their service costs. So if the energy market is unstable, then your bills will be too.
Energy suppliers, on the other hand, negotiate deals with multiple natural gas and electricity providers. Buying large quantities of energy wholesale allows them to offer fixed rates, green energy and price protection programs to their customers. Energy is still delivered via your local utility (and that is still the company to call in the event of a power outage).
What this means is that in a deregulated market, you have a choice. Shopping around for the right energy supplier can get you:
- Better natural gas and electric plans
- Stabilized energy costs
- Long-term, fixed-price or variable-rate plans
- Options to support green energy
Many states have taken action so that no single utility company has a monopoly on your energy prices. These maps show the most current natural gas and electricity deregulation across the U.S. In Canada, the provinces of Alberta, Manitoba, Ontario, and British Columbia have also moved towards less regulated and more competitive energy environments.
Guide to pricing plans
Products will vary depending on your TDSP and credit. To learn about specific energy plans available to Mckinney customers like you, enter your ZIP above or call the number to speak to an energy specialist.
Typically, energy providers offer several rate-types. See below for a brief overview of each.
- Green Energy Rates: Energy suppliers often give you the option to support renewable energy sources without changing your use or consumption. Either your supply comes from sustainable resources, or the negative effects of your existing energy use can be offset through your energy provider.
- Guarantees an energy rate for a specified duration. Contracts give customers the unique opportunity to lock in rates and protect themselves from the fluctuating market for a long period of time. Terms range from 3 months to 5 years. During this term, your rate will not increase.
- Variable Rates: A monthly energy rate offered through a supplier, based on the wholesale market value for gas or electricity.