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Aug. 8, 2020
Odessa is one of the fastest-growing small cities in Texas, with a population of approximately 124,000. The Odessa-Midland area has a slight elevation and dry climate that makes it extremely hot in the summer and extremely cold in the winter, making electricity demand high. Due to energy deregulation, all Odessa residents can choose from various electricity plans by different electricity providers. Odessa residents can save on energy by comparing Odessa electricity rates and finding the best energy plan for them.
Texas is the largest electricity-producing state in the United States and mainly relies on natural gas and crude oil. However, recently, it has also initiated the largest wind energy-generation project in the US. Renewable energy demand is increasing (especially in bigger cities like Dallas and Houston), and more electricity companies are offering green energy plans, albeit at a higher per kilowatt-hour (kWh) rate.
For all Odessa residents, your electricity bill is divided into two main categories – supply and delivery services.
Supplier service is simply the process of electricity generation. The electric rates of suppliers depend on the cost of electricity generation, and that can depend on the method of production. The retail electricity companies in Odessa include TXU Energy, First Choice Power, TriEagle Energy, Payless Power (SmarTricity Premier), Frontier Utilities, 4Change Energy (Maxx Saver), Gexa Saver, Just Energy, Direct Energy, Constellation Energy, Reliant, Green Mountain Energy, and Pulse Power, among others.
Each electric company offers various energy plans and rates; you can learn more about supply charges in your plans by reading their Electricity Facts Label (EFL). It contains information, such as the price per kilowatt-hour, cancellation fees, and early termination fees, among other things.
Your local utility company provides electricity delivery services. The utility company is also known as your Transmission Distribution Service Provider (TDSP) or your Transmission and Distribution Utility (TDU). Your TDU delivers your electricity, manages power lines, and handles power outages.
The primary charge is the TDSP Delivery Charge, and other charges include the PUC Assessment – a fee included by the Public Utility Commission of Texas (PUCT), and Gross Receipts Reimbursement Charge. You may also find non-recurring fees for things, such as new service initiation.
For Odessa residents, your local utility company is the Oncor Electric Delivery Company.
You can learn more about Odessa electricity rates and tariffs here.
Energy deregulation in Texas allows all Odessa residents to choose a retail electric provider (REP). You can find various electric plans from different energy providers offering competitive energy rates.
Due to commercial electricity markets, Texas electricity prices have been reduced below the national average. However, green energy plans tend to have higher rates compared to traditional plans.
If you don’t choose an energy company, you will receive Oncor’s standard offer or a Provider of Last Resort (POLR). The default rate you get is your Price to Compare, and it’s approved and regulated by the PUCT.
You can use the Price to Compare to see what energy company is offering the best energy services, electric plans, and prices.
Every Odessa resident can choose their REP for electric service. Some REPs offer low rates, while others offer average prices with benefits.
In any case, you can compare the electricity service, energy plans, and rates of each REP and make an informed decision. You can search and try to shop for rates yourself, but watch out for the fine print, hidden fees, and escalating rates once your term ends.
Alternatively, you can use Arbor’s free TrueRate Protection service to automatically find and switch to the best Odessa electricity rates in your area.
Arbor scans the market and gives you the best rates you can get in your service area. When your contract term is expiring, Arbor finds the best rate and switches you again. You always pay the best rate and never have to worry about overpaying for electricity ever again.
You can also use the free savings calculator to find out how much you could save in each case.
All retail electric providers offer different rates, term lengths, and features. Some offer additional benefits, such as free nights, bill credits, and auto-pay options.
Changing your REP is a straightforward process – you can get a copy of your energy bill to check your current REP and electric rate. You can use Arbor to find the best rate in your area and switch to the lowest cost supplier quickly to save time.
You can use Arbor to find the best rate in your area by using our free savings calculator.
Furthermore, you will find different types of plans depending on the companies. These are the three plan options you’ll find in Odessa.
Fixed-Rate Plans: Such plans are not affected by the fluctuating rates in the energy market; you pay the same rate throughout your contract term. We recommend fixed-rate plans because they provide price certainty and minimize risk. But be careful: when your term expires, your rate becomes variable and can go up without notice. Arbor automatically keeps you on the best fixed-rate plan, so you don’t have to worry about rate hikes at the end of your term.
Variable-Rate Plans: Variable-rate plans depend on current wholesale electricity prices. You may end up paying a different rate each month. When demand is high, you will be paying higher electricity rates, and when demand is low, you’ll have lower rates.
Prepaid Plans: Prepaid plans let you pay for your electricity usage beforehand and save you the hassle of making monthly payments. When you ‘deposit electricity,’ you can avoid credit checks and financial deposits.
Some plans may ask you for a deposit. However, plans available through Arbor never require a deposit.
All Odessa residents get delivery services from the Oncor Electric Delivery Company; however, they can choose among various REPs. You can use the Price to Compare or your current rate and compare it with energy plans offered by other REPs.
You should check what each electric plan offers in terms of savings and benefits, and what plan offers the best rate.
You can also check out how you can save on your energy bill with Oncor. But electricity is complicated, which is why people trust Arbor to manage their electricity service for them, so they always pay the best electricity rate available in Odessa.
Take 30 seconds and save up to $250 per year. Calculate your savings now with our free calculator.