How to slash the cost of your electric bill ahead of summer

Is your electricity bill just too high?

With summer right around the corner, now is the time to lock in a better rate.

"Right now in Texas, you're waking up to 70 degrees. You're at the advantage as a consumer. This is the time to lock in rates that are based on today's situation," said Andrew Barlow, Communications Director, Public Utility Commission of Texas.

You may have heard of PowerToChoose.org. It allows you to search all providers in your area and compare to find the cheapest rates.

"There are a lot of different factors that go into how much electricity someone is using. Knowing your usage is a really critical starting point," said Barlow.

You can figure out how much power you use by looking at past bills or you can go online to the Smart Meter Texas website to find out.

Next, you can choose from a fixed rate, which is most popular, but also typically higher.

Variable rate plans, are just that - variable. They go up and down each month.

Finally, there's an Indexed plan, which fluctuates, too.

Once you've picked your rate, choose how long you want your contract to last.

After you complete these three steps, you can view the plan that matches your needs and use the filters on the PowerToChoose site to help narrow your search even more.

"This is kind of a portal that gives you options, but it's really incumbent of the consumer to read the fine print," said Barlow.

PowerToChoose.org provides key information including a Fact Sheet, Terms of Service, and Special Terms for each provider listed.

You'll want to read through these to avoid extra fees.

After comparing the rates and reading reviews, I was able to find my power provider within 30 minutes, locking in a low rate for the hot summer days ahead.

Keep in mind if you're already under contract, you can get penalized for cancelling too early.