Energy Ogre is here to save you time and money and that’s exactly what we do! But we also want to share some realistic expectations that we can’t always get you a lower rate each time we place you with a Retail Electricity Provider. That’s because Texas electricity prices are on the rise. What Energy Ogre can guarantee is that we will get you in the best possible rate on the market every single time based on your usage, your preferences and any retail electricity provider requirements.
For example, an Energy Ogre member recently asked us why he was paying 3¢ per kilowatt-hour (kWh) with his last provider and now he’s paying 6¢ per kWh?
First, it’s mathematically impossible for Energy Ogre to get you in a lower rate every single time we sign you up with a provider. If we followed that logic then eventually you would pay nothing for electricity in your home or business. Yes, that would be nice, but it’s not realistic.
Energy Ogre CEO, Jesson Bradshaw explains below that we have to deal with the realities of what the marketplace is offering.
Texas Electricity Prices on the Rise
Second, after two years of stability, the arrow on electricity prices is starting to point upward, according to the government. The Energy Information Administration (EIA) said residential electricity prices will increase by about 3 percent in 2017 after holding steady in 2015 and 2016.
In its Short-Term Energy Outlook, released Jan.12, the EIA put the average retail price of electricity in the residential sector at 13¢ per kWh in 2017, up from the 2015 and 2016 price of 12.7¢ per kWh. That would mark only the second time since 2008 that residential electricity prices jumped by more than 2.2 percent in a single year.
The rising prices reflect an increase in the cost of natural gas and more consumption of renewable energy, which tends to be higher in price than fossil fuel sources, according to EIA data.
Most states in the South will average less than 12¢ per kWh, the EIA said. Bradshaw says Texas is in a much better situation compared to the rest of the country as we have a lot of renewable energy resources. He also sheds light on what to expect over the next couple of years.
For a few years, we experienced some of the lowest rates and promotional plans we’ve seen in years. But right now, anything under 8¢ per kWh is competitive since in Texas the average published price for 1000 kWhs is between 9.2 and 10.8¢ per kWh.
Imagine what you would be paying right now if Energy Ogre wasn’t on your side?
Similar articles: “Energy Trends Watch: Cost of Fuel Prices Affect Electricity Costs”