Why now is a good time to shop around for better electricity rates

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Why now is a good time to shop around for better electricity rates (KTRK)

When the feels like temperature starts topping 100 degrees, you know two things are true -- it's hot and your power bill is going to be high, unless you shop around for a better rate and now is the time to act.

You cannot do anything about the heat, but you can do something about the cost of cooling your home. With the air conditioner running all day, most people know exactly how much they are paying per month.

But the number that determines your power bill is not so easy to remember. It's the price per kilowatt hour. The lower the price per kilowatt hour the less you have to pay.

Troy Donovan with CenterPoint Energy said, "If you are not in a contract right now, then it is a great time to jump onto one."

Donovan says the low cost of natural gas is behind the lower electricity rates. Centerpoint's website, mytruecost.com displays more than 75 current power plans to show you which one is the best bargain. Right now rates lower than 9 cents per kilowatt hour can be found from several providers.

The number is based on the average annual use for the average Houston household, but the site allows consumers to input their actual usage to see what it would cost to power their own home. Usually summer time prices go up so typically it's not a good time to switch, but this summer is different.

Donovan explained, "It's the lowest I have ever seen, electricity, in the last three plus years that we have been tracking it and usually the summer time is when it starts increasing and this summer it has actually decreased. It's now the lowest we have ever seen it in years."

Because rates are so low, you may want to consider switching providers, make sure you do not have a termination fee before you make a switch, but if your contract is up soon, now is the time to compare and cut your costs.
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