Last Updated on March 20, 2024 by Mary Pressler
Protect Against Rising Electric Rates with a 24 Month Energy Plan
Avoid energy rate hikes by switching to a long term electricity contract with a fixed rate. With a 24 month energy plan, you can forget about high summer electric bills for two years.
Texas has a reliable power grid from a technical standpoint. Under normal conditions, major power outages are very rare in Texas. However, power grid reliability has a cost:
- Electricity is priced by comparing supply and demand, and demand is highest when air conditioners run at full power on hot summer days.
- This is why Texans must deal with “electricity price spikes” every year, and they tend to happen in warm months like July and August.
According to the Electric Reliability Council of Texas (ERCOT), electric demand will continue to increase between 2024 and 2028, by around 1,400 MW per year. New power plants will be brought online to keep up with consumption, and energy efficiency programs can offset the electric load increase.
Consumption peaks will continue to happen in summer, so make sure you’re protected with a fixed, two year electricity plan.
Budget Saver 24 Month Energy Plan
The Best Long Term Electricity Contract in Texas
- rates as low as 13.8 cents per kWh
- no monthly fee or minimum usage requirement
- a “fixed rate” will not change for the duration of your contract
- reliable, highly rated Texas energy provider, Frontier Utilities
Advantages of 24 Month Energy Plans
Long-Term Electricity Contracts Often Have Lower Rates
When comparing long-term electricity plans, 24-month contracts tend to have a lower price than 12-month contracts. When customers have long-term contracts, electricity providers have more time to plan their energy purchases from large-scale generators. This also means they can negotiate better prices.
During summer, homes and businesses must use their air conditioners at full capacity to stay comfortable under high temperatures. This increases electricity consumption, which tightens the margin between supply and demand, and kilowatt-hour prices become higher. However, a long-term electricity plan with a fixed rate solves this issue, since the kWh price stays constant regardless of supply and demand.
Compare Before You Commit
Comparing rate plans is strongly recommended before signing an electricity contract. While these plans offer constant prices, they also have fees for early termination. Take your time and read the Electricity Facts Label (EFL) before making a final decision.
Good Credit Counts
Selecting a home energy plan with Quick Electricity is easy and online registration takes only 5 minutes. For longer term plans with cheap rates, you must have good credit or you will be asked to pay a security deposit that is fully refundable when your contract is up.
Less Hassle for the Long Run
The best thing about choosing a long term energy plan is not having to worry about your electric bill for the next two or three years. Home ownership is challenging enough. Give yourself a break!
Secure Today’s Electricity Prices for 2 Years
Eyeing ERCOT Long Term: Texas Electric Supply and Demand for 2024-2028
According to the Capacity, Demand and Reserves Report from ERCOT, the electrical demand and capacity will have the following behavior during the next five years:
| YEAR | 2024 | 2025 | 2026 | 2027 | 2028 |
| DEMAND (MW) | 80,050 | 80,628 | 81,509 | 82,299 | 83,960 |
| SUPPLY (MW) | 103,609 | 118,316 | 125,578 | 127,367 | 127,367 |
| RESERVE MARGIN | 29.4% | 46.7% | 54.1% | 54.8% | 51.7% |
The outlook is favorable, since the reserve margin stays well above the ERCOT target of 13.75%. However, electricity consumption and kilowatt-hour prices will continue to be higher during summer, affecting anyone without a 24 month electricity plan.
This ERCOT projection also assumes that power plants are completed on time, and that energy efficiency programs achieve the expected results. In a less favorable scenario, the margin between supply and demand can become tighter, and electricity prices increase more.
Our Recommendations
There’s no doubt that Texas electricity prices are on the rise. That’s why we recommend a 24 month energy plan. If you commit to a long term energy plan, you will secure today’s kWh rate with no fluctuations for up to two years.
Just keep in mind that Texas updates the transmission and distribution fees charged by utility companies twice per year, in March and September. A 24-month energy plan keeps your energy price locked for two years, but the cost of delivering that energy to your home can increase or decrease.
Switch to a 24 Month Energy Plan Today
At Quick Electricity, we’re proud to offer the lowest 24-month energy rates in Texas. Our energy providers tout five star ratings with the Texas PUC and Better Business Bureau.
Ready to shop long term options?
Start by viewing rate plans in your city. Select a plan, and sign up in minutes. You’re on your way to a cheaper light bill – for 2 years to come!