Waco Electricity Rates and Plans

Compare the Top 5 Waco Energy Rates and Plans Available

When comparing energy plans in Waco, it’s essential to consider factors like rate structure, contract length and renewable energy options. Here are the top five energy plans currently available in Waco:

Energy Plans with the Lowest Rates in Waco

For budget-conscious consumers, here are some of the most affordable energy plans in Waco:

Best Green Energy Plans in Waco

For environmentally conscious consumers, these green energy plans offer 100% renewable energy:

Current Average Electricity Rates in Waco

As of November 2023, the average electricity rate in Waco is 13.6¢ per kWh. This rate is based on 136 plans listed by the Public Utility Commission of Texas (PUCT). Waco’s energy prices are about 8.4% below the Texas state average of 14.8¢ per kWh, according to data from the U.S. Energy Information Administration (EIA).

When considering only Waco electricity plans with predictable rates, prices in the market range from around 13¢ to 16¢ per kWh. However, if we compare all available plans, prices range from 12.3¢ to 24.3¢ per kWh.

Historical Rates

Electricity rates in Waco have fluctuated over the past few years. According to PowerRateIndex data, the average electricity rate in the Oncor territory, which includes Waco, peaked at 17.81¢ per kWh in September 2022. This spike coincided with a period of high inflation across the United States.

Rates decreased significantly in the following year, reaching a low of 12.61¢ per kWh by April 2023. However, electricity rates in the Oncor area were on the rise again in 2023, reaching 16.62¢ per kWh by July. Despite these fluctuations, as a Waco resident, you can still find competitive fixed-rate plans with prices around 14¢ to 15¢ per kWh for terms up to 36 months.

Types of Energy Plans Available in Texas

Texas offers a variety of energy plan types to suit different needs and preferences. Understanding these options can help you choose the best plan for your household.

Fixed-Rate Plans

Fixed-rate plans offer stability and predictability in your energy costs. With these plans, your rate per kilowatt-hour remains constant throughout the contract term, which typically ranges from 12 to 36 months. While your total bill may vary based on usage, the rate itself won’t change, making budgeting easier. Fixed-rate plans are ideal for those who prefer consistency and want to avoid potential rate spikes during peak seasons.

Month-to-Month Plans

Month-to-month plans, also known as variable-rate plans, offer flexibility without long-term commitments. These plans allow rates to fluctuate based on market conditions, which can lead to savings when energy prices are low but also risk higher costs during peak demand periods. They’re suitable for those who want the freedom to switch providers frequently or are in temporary living situations.

Indexed Plans

Indexed plans tie your electricity rate to a publicly available index, such as natural gas prices. These plans can offer lower rates when the index is favorable but may lead to higher costs if the index rises. Indexed plans require more active management and are best suited for consumers who are comfortable with some risk and willing to monitor market trends.

Prepaid Plans

Prepaid plans allow customers to pay for electricity in advance. These plans often don’t require a credit check or deposit, making them accessible to a wider range of consumers. With prepaid plans, you add money to your account and your usage is deducted from this balance. They can help with budgeting but require careful monitoring to avoid service interruptions.

Green Energy Options

Green energy plans source electricity from renewable resources like wind and solar power. These plans support the development of clean energy infrastructure and can help reduce your carbon footprint. While green plans were once more expensive, many are now competitively priced with traditional energy plans, making them an attractive option for environmentally conscious consumers.

Understanding Waco’s Energy Landscape

Waco’s energy market is part of the larger Texas deregulated energy system, which allows residents to choose their electricity provider. The city is served by Oncor Electric Delivery as its Transmission and Distribution Utility (TDU), responsible for maintaining power lines and infrastructure.

Waco’s climate, characterized by hot summers and mild winters, significantly impacts energy consumption patterns. The average high temperature in July reaches 96°F, leading to increased air conditioning use and higher electricity demand during summer months. This seasonal variation can affect electricity rates and consumption, making it crucial for residents to choose plans that align with their usage patterns.

The city’s energy landscape is also influenced by Texas’ growing renewable energy sector. While much of the state’s electricity still comes from natural gas, the percentage coming from renewable energy, particularly wind power, has been increasing. This shift toward cleaner energy sources provides Waco residents with more green energy options at competitive prices.

How to Choose the Right Electricity Plan for Your Waco Home

Selecting the ideal electricity plan involves considering several factors. Here’s a step-by-step guide to help you make an informed decision:

Assess Your Energy Usage

Review your past electricity bills to understand your typical monthly usage. This information is crucial for comparing plans effectively, as some offer better rates for specific usage levels. Remember that your usage may vary seasonally, especially during Waco’s hot summers when air conditioning use increases.

Here’s our guide to determining your home’s energy usage.

Understand Your Priorities

Determine what matters most to you in an energy plan. Are you looking for the lowest possible rate, or is price stability more important? Do you prioritize renewable energy? Understanding your preferences will help narrow down your options.

Decode the Electricity Facts Label (EFL)

The EFL provides essential information about each plan, including the energy charge, base charge, and any usage credits or fees. Pay attention to the average prices listed for different usage levels (500 kWh, 1000 kWh, and 2000 kWh) to get a clear picture of how the plan might affect your bill.

Consider Additional Perks

Some plans offer extra benefits like smart home devices, rewards programs, or free electricity during certain hours. While these perks can be attractive, make sure they align with your needs and don’t overshadow the plan’s core value.

Seasonal Considerations for Waco Energy Consumers

Waco’s climate significantly impacts energy consumption patterns. Summers in Waco are hot, with average highs reaching 96°F in July and August. This leads to increased air conditioning use and higher electricity demand. Winters are generally mild, but occasional cold snaps can spike heating needs.

When choosing an energy plan, consider how your usage might change throughout the year. Fixed-rate plans can provide stability during high-usage summer months, protecting you from price spikes. However, if you’re able to manage your energy use effectively, you might benefit from plans that offer free nights or weekends, allowing you to run energy-intensive appliances during off-peak hours.

Some providers offer seasonal plans that provide lower rates during summer months when usage is typically higher. These can be beneficial if your summer electricity consumption is significantly higher than in other seasons.

Switching Light Companies in Waco

Switching electricity providers in Waco is a straightforward process. Here’s what you need to know:

1. Enter your zip code to review plans in your area on Home Energy Club.
2. Compare plans and select the one that best fits your needs.
3. Sign up with the new provider. They will handle the switch with your current provider.
4. The switch typically takes 1–7 business days and doesn’t require any changes to your electricity meter or service.

How Often Can I Switch Providers?

In Texas’ deregulated market, you can switch providers as often as you like, provided you’re not under a contract with your current provider. If you are under contract, switching before it expires may incur early termination fees. These fees are typically waived if you’re moving to a new address.

It’s a good practice to review your plan options annually or when your current contract is nearing its end. This ensures you’re always getting the best deal for your energy needs.

Just Moved to Waco? Expert Tips for Waco Energy Shoppers

If you’ve just moved to Waco, here are some tips to help you navigate the local energy market:

1. Start early: Begin researching energy plans before your move. You can often set up service in advance to ensure power is on when you arrive.
2. Understand your usage: If possible, get information about the previous occupant’s energy usage. This can help you estimate your potential consumption.
3. Consider your housing type: Apartments and smaller homes typically use less energy than larger houses. Choose a plan that aligns with your expected usage.
4. Look for new customer promotions: Many providers offer special rates or incentives for new customers.
5. Be aware of seasonal changes: Waco’s hot summers can lead to higher energy bills. Consider this when choosing between fixed-rate and variable-rate plans.
6. Check for deposit requirements: Some providers may require a deposit for new service. Look for providers offering no-deposit or low-deposit options if this is a concern.
7. Understand Oncor’s role: As Waco’s TDU, Oncor is responsible for power line maintenance and outage repairs, regardless of your chosen provider.

EcoWatch Methodology on Energy Providers in Texas:

We at the EcoWatch Reviews team interview customers, run focus groups and speak with deregulated energy experts and company representatives. To gather first-hand data, we also surveyed more than 1,000 Texans who have purchased deregulated energy plans. The result of over 100 hours of study shapes our methodology for reviewing electricity companies based on the following categories:

• Sustainability score (25%): We assess a sustainability score for dozens of providers based on the variety of renewable energy or green energy options the companies offer. Providers who offer only 100% renewable energy plans will score the highest, while those that offer no 100% renewable energy plans will score the lowest. Companies can earn additional points for solar buyback plans and electric vehicle (EV) charging plans.
• Cost and bill fees (25%): We base our cost ratings on a provider’s effective rate across all usage levels. This helps you identify the lowest effective rate—not just the cheapest advertised cost. Providers with lower rates score well; those who charge more earn fewer points. 
• Plan features and options (25%): More options means more chances for you to find the right plan for your needs. Providers that deliver a range of plan types, from bill credit plans to savings plans and time-of-use plans, earn more points in our review. Providers with fewer options will score lower.
• Customer satisfaction (25%): We rate a provider’s customer satisfaction based on firsthand experience from customer surveys, as well as third-party review websites, such as the Better Business Bureau (BBB) and the Public Utility Commission of Texas (PUCT). Our team also goes through the online buying experience to assess the overall quality of the customer experience.

To learn more about how we rate and review retail energy providers, read our full deregulated energy methodology here.