Are you a resident of the great state of Texas? If so, you’ve probably heard people talking a lot about “deregulated electricity.” So, what exactly does this mean, and why should it matter to you?
Let’s take a minute to explore the meaning of deregulated electricity in Texas, and why Peso Power is the #1 provider you can depend on.
Deregulation of electricity in Texas was enacted on January 1, 2002 by Senate Bill 7. This life-changing legislation gave most residents of Texas the option to choose their electric service providers.
Before Senate Bill 7 was passed, Texas residents were required to use one main power provider, which is known as having a “monopoly” on the power industry.
Texas residents can now benefit greatly from being able to shop around for the power provider whose plans, prices, and services best suit their needs.
Deregulation of electricity also means that your utility provider isn’t limited to just one company. Deregulated electricity is separated into individual components.
What does that mean? Read on for more.
For example, instead of just one company providing all services, from electricity generation and billing to power lines and electric poles, a number of different companies now compete to provide you with each of those services.
What are the perks of deregulated electricity?
There are many! The power to choose an energy plan that best fits your budget and needs is a huge benefit to the potential for savings, and increases the level of customer service you can expect from power providers.
- When companies have to compete for your business, the result is lower utility rates for all consumers across deregulated areas of Texas.
- The ability to select your power provider also gives you choices when it comes to payment plan options.
- With deregulated electricity access, consumers can choose between prepaid and postpaid electricity plans.
- Prepaid electricity plans give customers the option to pay ahead of time for power usage, instead of paying after the electricity has already been used. Paying on the front-end allows customers to be more financially responsible, in addition to using less electricity overall.
- Being able to estimate usage and cut down on costs is a major plus for individuals and families looking to save more money.
- Postpaid electricity plans are the more traditional method. Postpaid plans mean that you receive a bill at the end of the cycle based on whatever amount of power you’ve already used.
- Most of the time, there is nothing you can do about the amount owed after the fact, which is why prepaid electricity plans are more appealing to a wide variety of users.
- How can you monitor your utility consumption with prepaid electricity plans? Great question! Customers living in deregulated areas of Texas who choose to enroll in a prepaid plan are given Smart Meters.
- Smart Meters are electronic devices that are installed in the consumer’s home. The Smart Meter records a home’s energy data in real-time, usually in timed intervals of one-hour or less. The recorded data is then sent to the power company for billing and monitoring purposes via a Wi-Fi network.
- Customers can view this information on the Smart Meter display monitor in their home.
- Peso Power, the top prepaid electricity provider in Texas, sends regular correspondence (daily, weekly, or monthly, depending on your preferences) to customers, with updates on your energy consumption and account balance information.
- Peso Power’s tremendous team goes the extra mile to assist customers by analyzing their usage, providing customized energy-saving tips based on your consumption habits
Why should I choose Peso Power for prepaid electricity service?
- Affordable electricity should be available to everyone, no matter what their financial situation may be.
- At Peso Power, we make sure that EVERYONE is approved!
- Bad credit? No credit? No problem! Enroll with Peso Power to get hooked up with NO credit check, NO deposit, and NO SSN/ID required for enrollment.
