TXU lowers electric rates, others coming down… sort of.

TXU Energy said it will lower electric rates as much as 15 percent on service plans for new customers across the state, a reflection of lower natural gas prices and “challenging economic times.”
The new prices go into effect February 1 and could save a typical customer “… as much as $340 over a year, compared to previous prices, depending on their location and the plan they choose,” TXU said.
Electric rates from all providers have continued to drop since last summer but not nearly as much as natural gas prices, which generally set wholesale power rates in Texas. TXU’s MarketEdge plan, which closely tracks natural gas prices, is down about 45 percent since the summer and ranges from 11.1 to 11.9 cents per kilowatt-hour depending on where a customer lives.
But there are still some surprisingly high rates out there. Brilliant Energy has a 12-month 18.9 cent plan in the Houston area called the Brilliant Low Price 12 Month Guarantee . The next highest price plan is an 18.5-cent, month-to-month plan offered by Bounce Energy. The Bounce plan has no deposit required, but there are several 11.1-cent month-to-month plans available (from Gateway, StarTex, APNA, Dynowatt and others) but with varying deposit requirements. All rates were found on The Power to Choose site and are subject to change at any time.
There are even higher rates out there that aren’t advertised but customers could end up on if they’re not vigilant about watching their bills.
In other news, other parts of Texas not yet open to electric retail competition are a bit wary of making that change.

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