Compare Irving Electricity Rates and Plans

Irving Electricity Rates

Finding the best Irving electricity rate is not only about locating the lowest advertised price. Sometimes, the lowest rate can surprise you with extra charges at the end of the month. Consider bill predictability, brand reputation and other plan features to ensure you’re getting the best deal for your energy needs. Here’s a snapshot of some of the best rates available now.

You may prefer shopping for plans with predictable bills rather than aiming for the lowest rates. If so, consider plans with consistent rates across all usage levels and straightforward rate structures.

Bill Predictability vs. Low-Rate Energy Plans in Irving

The type of energy plan you choose affects your energy rate per kWh, which directly impacts the predictability of your monthly energy bills. While some energy plans advertise the cheapest electricity rates, these low-rate offerings may hide confusing rate structures that can lead to unpredictable monthly energy costs.

Fixed-rate plans typically provide more consistent rates across all usage levels for more predictable energy bills. Meanwhile, bill credit plans offer enticing account credits when your usage stays within certain usage limits. However, if your energy consumption doesn’t align with these structures, your rate per kWh can increase significantly. This inconsistency in rate based on your usage level can cause serious bill surprise issues.

According to our July 2024 survey of more than 1,000 Texans, 45% of respondents expressed dissatisfaction with bill credit plans due to unexpected charges or failing to qualify for the account credits. We also performed several customer interviews. “I thought my bill would be $150, but because I used 998 kWh instead of 1,000, I didn’t get the credit, and my bill was $250,” one interviewee said.

When picking a plan, consider how much energy you typically use, how long the contract is and whether you value predictability over potential savings. These factors can help you choose an energy plan that fits your budget and lifestyle.

How Do You Choose an Energy Plan in Irving?

In your search for the best electricity rates, you should also consider bill predictability, term length and the quality of the energy company’s customer service.

Understanding the major players in Irving’s deregulated energy market is also essential. Like in other deregulated cities in Texas, the companies that sell electricity and those that maintain power lines differ. Your retail energy provider (REP) markets electricity and bills you for your usage, while the transmission and distribution utility (TDU) maintains the local grid.

Even if you’re satisfied with your current energy provider, you might be able to secure lower energy rates by switching energy providers. If you’re moving homes or your contract is ending, it could be a good time to review your current rates. You may find a better option for you.

Whether your reason is moving or switching providers, breaking down the research process into three simple steps can make things much easier for you.

Step 1: Identify Your Electricity Usage Needs

Knowing how much electricity you use is important to finding the best energy plan. You can start by checking your monthly bill or using Smart Meter Texas to see your historical usage data. It’s a good idea to look at an entire year’s data to account for seasonal changes in demand. Most plans in Irving charge rates that vary at specific usage levels: 500 kWh for apartments, 1,000 kWh for small homes and 2,000 kWh for larger households.

Step 2: Review Plan Details and Rates

Once you know how much energy you use, check out plans from different energy providers. You’ll probably see fixed-rate, variable-rate or green energy plans. Look at how long the contracts are — longer contracts usually mean lower rates. Don’t forget to check customer reviews, cancellation fees and the amount of energy that comes from renewable sources for each plan. Make sure you’re looking at plans specifically for your Irving ZIP code.

Step 3: Make the Switch to Your New Provider

Once you’ve picked the provider and plan for your needs, you can enroll online or over the phone in just a few minutes. Your new provider will work with your utility company to ensure you don’t have any interruptions in service during the switch.

What Are The Best Electricity Companies in Irving?

Our top choices for electricity companies in Irving are Reliant Energy, Green Mountain Energy and TriEagle Energy. These companies offer great rates on different plans, exceptional customer service and renewable energy options.

Consider your Irving energy providers’ costs, contract duration, plan options and customer support before enrolling. We rank providers based on all these things, and we also check out their reputation using sources such as the PUCT and the Better Business Bureau (BBB). We also consider a provider’s number of years in the business.

Our team reviewed dozens of Irving electric companies. Check out some of our top picks listed below. On average, the energy providers that offer the cheapest Irving electricity rates are Gexa Energy, 4Change Energy and Frontier Energy.

Many of these providers offer residential electricity and commercial services, often with affordable electricity rates.

What To Know About the Energy Market in Irving

In this deregulated environment, you can choose from different providers with varying rates, contract lengths and perks. While the rate per kilowatt-hour is crucial, you also need to consider contract terms, early termination fees (ETFs), discounts, and special plans for electric vehicles or renewable energy. First, you should start with the electricity facts label (EFL).

Electricity Facts Label

The EFL is one of your most important tools for evaluating plans and providers. Think of it as the nutrition facts label for your energy plan. The EFL provides a detailed breakdown of the plan’s pricing, including the base charge, energy charge and any additional fees. It also outlines the average price per kilowatt-hour at different usage levels, which can help you understand how your bill could fluctuate based on consumption.

The EFL also includes information about the contract length and any ETFs. This transparency lets you compare different plans and make an informed decision. Read the EFL carefully to avoid surprises on your bill and ensure your plan aligns with your energy usage patterns and budget.

Discounts and Promotions

Many Irving energy providers offer various discounts and promotions to attract new customers. These can include sign-up bonuses, bill credit bundles or discounts for enrolling in autopay or paperless billing. Some providers also offer special rates for customers who bundle their electricity service with other utilities or services.

Promotions can be a great way to save money, especially if you’re moving to a new home and looking to cut down on initial expenses. However, you should read the fine print and understand the terms and conditions associated with these promotions. Sometimes, the promotional rate is only temporary, and the price may increase after a certain period.

Early Termination Fees

ETFs are charges you may incur if you cancel your electricity plan before the end of the contract. These fees can vary widely, depending on the provider and the length of the remaining contract. While you may not plan on canceling your plan early, it’s essential to be aware of the provider’s ETF policy — just in case. Fees can range from $150 to $395, regardless of the time left in your contract. Meanwhile, other plans charge a $20 fee per month remaining in your agreed term.

You can typically avoid an ETF if you move outside your provider’s service area or your contract has two weeks or less remaining.

Rate Ranges and Tiered Rates

Because energy plans combine flat fees with charges per kWh, your effective energy rate will vary depending on how many kilowatt-hours your home consumes.

That’s why we recommend considering a plan’s advertised average rate per kWh across all usage levels. How much the rate varies from 1,000 kWh to 500 kWh should give you an idea of how predictable your monthly energy costs may be when enrolled in that plan. If the range is narrow, from 13 cents to 16 cents, you’ll experience more predictable monthly costs. However, if that rate ranges from 11 cents to 22 cents per kWh, your monthly energy bills will likely be very unpredictable.

Meanwhile, tiered-rate plans offer discounted prices when your energy usage exceeds or falls below a set kWh level. We never recommend this plan type because most people’s monthly usage will vary enough to not consistently qualify for the discounted rate. When reviewing the rate range for a tiered-rate plan, you’ll notice a very large range. A wide rate range is also common on bill credit plans.

Variable Rates vs. Fixed Rates

You’ll often have the option of choosing a variable or fixed-rate plan. Fixed-rate electricity plans offer a stable price per kilowatt-hour for the duration of the contract, providing predictability and protection against market fluctuations. Fixed-rate price protection can be especially advantageous during times of high demand or rising energy prices.

Variable-rate plans can change month-to-month based on market conditions. While this means you could benefit from lower rates when the market is down, it also exposes you to higher rates during peak periods. Consider your risk tolerance and budget stability when deciding between these two options.

In our July 2024 survey, 63% of respondents who reported a bill surprise issue had a variable-rate energy plan. Because variable rates tend to cause billing headaches, we almost never recommend them.

Renewable Energy Plans

If you’re environmentally conscious, you’ll be pleased to know that many providers in Irving offer renewable energy plans. These plans source some or all of their electricity from renewable resources such as wind or solar power. Choosing a renewable energy plan can help reduce your carbon footprint and support the clean energy industry.

Some providers also offer incentives such as rebates for installing solar panels or discounts on electric vehicle charging. Explore Irving’s renewable energy options if sustainability is a priority for you.

No-Deposit Energy Plans

Another popular option in the Irving area is a prepaid plan, also referred to as a no-deposit energy plan. These offerings allow you to bypass a large upfront deposit when enrolling in an energy plan. However, most of these plans charge higher rates to offset the risk of not levying a deposit. If you’re considering enrolling in a no-deposit energy plan, we highly recommend Payless Power.

How Does Deregulated Energy Work in Irving?

Texas passed a law in 1999 to deregulate its energy sector, which took effect in 2002. This legislation broke up monopolies to foster competition. Instead of a single utility company handling power generation, transmission, and marketing, three entities manage Texas electricity: generators, TDUs and REPs.

Today, you have the power to choose the best Irving energy company and plan for you. In contrast, residents of regulated cities must use the utility company assigned to their area.

As an Irving resident, you’ll primarily interact with your power company. The TDUs are responsible for maintaining power lines and fixing power outages. That’s why they’re sometimes called “poles and wires” companies.

Current Transmission and Distribution Utility Companies in Texas

• Oncor Electric Delivery
• CenterPoint Energy
• AEP Texas Central
• AEP Texas North
• Texas-New Mexico Power (TNMP)
• Lubbock Power & Light (LP&L)

Electricity companies participate in wholesale auctions to buy energy from power generation companies, fostering a competitive electricity market. The PUCT and Electric Reliability Council of Texas (ERCOT) oversee these auctions.

This setup allows light companies to offer various plans and promotions to consumers. As a result, Irving residents can compare rates from different providers, choose plans that suit their needs and preferences, and potentially save on their electricity bills.

Why do Electricity Rates Fluctuate in Irving?

Electricity prices in Irving fluctuate because of deregulation means that the free market directly impacts energy prices. Supply and demand, local weather, global fossil fuel prices and other factors all impact the cost of energy in Texas.

Because of the deregulated energy market, many companies compete for customers, and prices can change significantly. Companies set their prices based on how much it costs them to buy electricity, and that can change frequently because of factors such as the cost of natural gas. This is because natural gas is one of the main fuel sources for Texas electricity.

However, wind and solar power also make up a large percentage of the fuel mix. The availability of these power sources also impacts energy costs.

Seasonal demand spikes — especially during hot summers — can also cause significant rate increases as air conditioning usage surges.

Meanwhile, extreme weather events such as Winter Storm Uri in 2021 can cause energy rates to skyrocket. The skyrocketing rates were due in part to the loss of power supply caused by the grid failure and increased demand as more Texans tried to heat their homes.

When To Buy Electricity in Irving

Homeowners in Irving should consider purchasing electricity in spring and fall. The mild weather common during these seasons typically causes electricity demand to drop, so energy providers tend to offer better rates.

People crank up their air conditioning and heating during the summer and winter, leading to higher electricity usage and often higher rates. To get a better deal, lock in a plan during the off-peak seasons.

Keep an eye on market trends and consider the contract’s length. Shorter contracts might seem appealing but can expose you to seasonal price fluctuations. Opting for a 12-month or longer plan during the spring or fall allows you to lock in low rates with long-term stability.

Being proactive and shopping for Irving electricity plans during the off-peak seasons can lead to real savings. Regularly comparing rates and knowing your contract’s expiration date will ensure you always have the best rate for your energy needs.

Which TDU Serves Irving?

Oncor is the local utility responsible for delivering electricity to homes and businesses in Irving and the broader Dallas-Fort Worth area. As of December 2024, Oncor’s base charges include a fixed monthly charge of $4.23 and 5.1893 cents per kWh. These charges cover the cost of maintaining and operating the electrical grid in Oncor Electric Delivery’s service area, dealing with outages and ensuring reliable service.

Frequently Asked Questions About Electricity Rates in Irving

Who has the cheapest electricity per kWh in Irving?

Some Irving providers known for offering cheap electricity rates include 4Change Energy and Gexa Energy. While these companies advertise some of the lowest rates, note that they may rely on bill credits, which can negatively impact bill predictability. Providers such as TriEagle Energy and Rhythm Energy offer competitive rates with more predictable monthly energy costs.

When is the best time to shop for an Irving power plan?

The optimal times to score a great deal on energy plans in Irving are during the spring and fall months, specifically April and May or October and November. These periods often see low demand, leading to more competitive energy prices. Avoid shopping during the peak summer months of July and August, when rates have historically skyrocketed.

How We Rate and Review Texas Electricity Companies

With dozens of providers and hundreds of plans available in the deregulated Texas market, choosing the right one can feel overwhelming. Home Energy Club created a comprehensive rating methodology to help you cut through the complexity and find the best electricity plan for your needs, whether you’re moving to Texas or looking to switch providers.

We’ve researched dozens of Texas electricity providers and scored them out of 5 stars based on cost, bill predictability, customer satisfaction, brand trust, and plan features. Here’s how those core factors weighed into our ratings:

• Plan features (33%)
• Customer satisfaction and brand trust (27%)
• Plan rates and pricing (20%)
• Energy bill predictability (20%)