Market price for electricity in Southeast Texas is about 14.5 per kilowatt-hour.
We were able to lock in a 3-year rate contract yesterday for 10.6 per kwh. The rate can't increase even if electricity prices double in the next 2-3 years, which they will.
My advice is to call your energy providers now, and see about extending your current contracts or get on a plan with fixed, low rate for at least the next 2-years if possible. Winter is coming.
If SHTF, you don't want to be paying "market rates". During the Texas Ice Storm earlier this year, some people (without set rates) were being surprised by $4,000 electricity bills. We got the same service, but our entire bill that month was $380. Lock in now.
Hmm. Thanks anon. Hadn't even crossed my mind.
I was distracted by everything and didn't think of it last spring (the best time to lock in rates), looking back on the charts the natural gas price doubled a month after Buyden closed down Keystone XL, I should have done this the day they announced that EO.