According to the Official South Texas Hurricane Guide, Hurricane season in “Texas starts June 1 and ends November 30. The peak threat for the Texas coast exists from August through September.” With all the distraction from Covid-19 it is likely that many of us have not considered our electricity rates and current energy contract lately. In other words, many people are not aware of the expiration date on their current contract. Unfortunately, hurricane season is here, and this is typically when electric companies bump up rates. Below are three reasons why you should follow up with your electric company and guarantee the same rate at the end of your contract or look for a new company with a lower rate.
- If you wait to renew, allow your contract to rollover or even find a new electric company during Hurricane season you could be looking at much higher rates. It is wise to renew your electricity rates and renew your contract prior to June 1 or at least not as late at October or November. By this time the rates offered will be much higher than in previous months.
- Infrastructure is crucial. It includes the wires and poles allowing us to access electricity in the first place. Unfortunately, if a severe storm hits it causes this infrastructure to be at risk. This can be applied to supply and demand. If our infrastructure is damaged, there is less energy and if there is less energy then there is less supply and greater demand which means “increased energy prices”.
- During hurricane season your electricity company could be looking at a lower supply causing your prices to spike. This was the case for many Houston electric companies back during hurricane Harvey. In addition to that people had to deal with electrical problems. This is the last thing anyone needs to worry themselves with after facing so many other issues that come with a hurricane.
These reasons listed above are all significant in providing Houstonians with knowledge to understand why it will save money to understand your electric company and contract. By simply knowing what your electric company contract entails and by knowing the expiration date you can potentially save yourself from a price increase and save yourself money.
