National Texas Energy Savings Day – September 7, 2022, history, quotes, tweet
Texas Energy Savings Day is celebrated on September 7. The majority of Texans are overpaying for their electricity, and with so many complicated plans and bills, many Texans don’t even realize it. By staying on top of their energy contracts and learning how to better understand their bill, Texans have the opportunity to reduce their electricity bills — sometimes massively.
HISTORY OF TEXAS ENERGY SAVINGS DAY
How did it get to this?
Texas has an annual energy consumption equal to that of Great Britain and Spain. This is one of the reasons why electricity deregulation in Texas was signed into law in 1999 under Texas Senate Bill 7. The law went into effect in 2002, officially ending the state’s regulation and control of the electricity supply. The goal was to open the market for electricity providers to create more competition and give Texans the ability to choose their own provider and plan.
Although this move was initially intended to reduce electricity prices for Texans, it has become more apparent in recent years that deregulation has had the opposite effect.
The Texas winter storm of February 2021 was the straw that broke the camel’s back. It left millions of Texans without electricity for a full week after the state’s electric grid operator lost control of the power supply. Many Texans who were not in fixed-rate contract plans were left with astronomical electricity bills. This fuelled a debate around whether Texas’ energy deregulation was the cause of this disaster, since local utilities had neglected their facilities and failed to do the necessary upgrades.
So, why are Texans now paying more?
The main reason is that in order for the power of the market to result in the most competitive rates, people need to consistently shop around for the best plans. Otherwise, their contracts expire. Once a contract expires, you are automatically placed on a month-to-month plan, where providers can change your electricity rate each month. Surprise: these rates are usually much higher than contract rates! The worst part? Many people don’t even realize they are being charged higher than the market average — sometimes more than double the market average!
CELEBRATING WITH WORLDTIMESHINDI RETWEET
TEXAS ENERGY SAVINGS DAY TIMELINE
1999
The Bill is Signed
Electricity deregulation in Texas is signed into law under Texas Senate Bill 7.
2002
Texas Deregulation
Electricity deregulation in Texas goes into effect, officially ending the state’s regulation and control of the electricity supply.
February 2021
The Winter Storm
The winter storm leaves millions of Texans without electricity for a full week after the state’s electric grid operator lost control of the power supply.
2021
Texas Energy Savings Day is Established
Texas Energy Savings Day is celebrated for the first time on September 7 to help Texans who might be paying high rates on their electricity and not taking advantage of fixed plans that deliver renewable energy.
HOW TO CELEBRATE TEXAS ENERGY SAVINGS DAY
Sign up and save!
When your contract is coming to an end, it’s important to shop around for a fixed-rate energy plan to ensure you lock in a good rate that won’t be subject to fluctuations.
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Educate yourself
Watch various free webinars and virtual information sessions to help you understand your electricity bill. Some providers also offer a side-by-side comparison of their winning rates compared to the market average.
Take steps to save power around the house
Turn off lights in rooms that are not in use and make the switch to LED lightbulbs. Install insulation in your home to keep it warm during winter without the need to use too many heating appliances, and cool during the summer. Hang your laundry to dry instead of using the dryer, and ease up on the AC — use it only in the rooms you’re in and check the air filters so it circulates air easily.
5 MIND-BOGGLING FACTS ABOUT TEXAS’ POWER SITUATION
Millions of Texans were affected by the winter storm
A staggering 4.3 million Texans were left without electricity during the 2021 winter storm.
Most Texans are overpaying for electricity
80% of Texans have never switched, or switched a long time ago, and are now on plans with expensive variable rates — draining their pockets financially and overpaying an average of $450 a year for their electricity!
Deregulation cost Texans billions of dollars
According to the latest data published by the Federal Energy Information Administration (EIA), deregulation has cost Texans $28 billion since 2004.
Texas is one of the largest energy consumers
If Texas were an independent nation, its electricity market would be the 11th largest in the world.
Texas has some of the highest electricity bills
Average monthly household electricity bills in Texas were the second highest in the U.S. in 2021.
WHY WE LOVE TEXAS ENERGY SAVINGS DAY
Who doesn’t love saving!
Shop for a different plan and you can even save around 20 to 25% on your electricity bill. Texans who switch can save an average of $771 on their electricity bills over three years!
It’s quick and easy to switch to a better provider
Signing up for some providers is free. All you need to do is register, sit back, and wait to receive your offer. And you’re not tying yourself down. If you don’t like the offer, you can simply decline. No strings attached!
It’s better for the environment
Even if you just spend the day looking over your electricity bill and seeing where you can cut down on costs or write up a plan to take active steps in reducing your energy usage, you’ll be doing the environment a big favor in the long run.
TEXAS ENERGY SAVINGS DAY FAQS
Why is Texas energy so expensive?
Texans face skyrocketing home energy bills as the state exports more natural gas than ever. The cost of electricity in Texas is tightly tied to the price of natural gas, which has more than doubled since Russia invaded Ukraine in late February, 2022.
Why join a group switching program?
It might just be the answer to finding new savings. It’s simple enough and always wise to compare and see if you’re overpaying on your electricity bill. Finding competitive rates is time-consuming, but it’s worth it to get the best deals that are transparent and bring additional financial savings to your pockets.
Who can participate in the group switching program?
Anyone who lives in an area open to electric choice can participate, meaning, if you are in a deregulated service area, sign up and tell your friends and family who live in deregulated areas to sign up too.
