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Tag: Lower Electric Rates

  • Crypto Struggles as Prices of Electricity Rise & Imaginary Money Falls



    Crypto prices are crumbling but bitcoin continues to stay around $20K. It is just astounding that the price for a line item on a digital spreadsheet made of 1s and 0s of code is still that high. Even so, many “miners” (where are the pickaxes, sledge hammers and hard hats?) are crumbling as spiking electricity prices and lower hash prices (i.e. lower crypto prices) cut into the hodl fantasy business model.

    Crypto Prices Electricity

    BTC’s price has fallen about 56% year to date, and the sky continues to fall for various crypto and bitcoin miners. Unfortunately one of the causes is higher electricity prices, which also affects those of us in the real world that appreciate history, tangibility, and stability. Furthermore, the global recession is looming while inflation catches up with all the money the Fed printed the last few years and the unnatural interest rate they suppressed to make up for the 2008 financial collapse while they reloaded bankers’ pockets.

    Save on Your Electric Bill

    GET THE BEST ELECTRICTY FOR YOUR BUSINESS

    We FORCE electricity companies to compete! Electricity providers will offer a lower price to us because they know they are competing for the business. This drives your price down!

    Hash price is a metric to determine the market value for each unit of hashing power, which is set through changes in bitcoin mining difficulty (which is currently high) and the price of the cryptocurrency. At a high level, the higher the hash rate the greater the difficulty to mine bitcoin — meaning that it takes more electricity to do so. If the electricity price is high, it’s harder to make a profit when they try converting imaginary money back into USD. Who’d a thunk it!

    BTC Prices Electricity

    The hash price is near a historical low, and it is about $70.72, down 80.5% from $361.82 a year ago. Additionally, energy prices have increased across many markets, which means miners’ expenses are at all-time highs.


    Ways to Lower Your Electricity Bill

  • Winter Forecast: Higher Rates & New Fees

    When summer winds down and temperatures cool off, it is usually time to shop for a lower electric rate. But this year prices are not falling simply because of higher generation rates and new fees for the grid are countering the normal seasonal drop we see in Texas. Here’s what you need to know about your electricity bill and how you might find a better electric rate.

    The average price for a 12-month plan is $.16 to $.17 per kilowatt. While that is down from the super-high $.21 rates we were seeing this summer, it is still histrionically high. In the scorching heat of a Houston summer many of us raise our thermostat to76-79 degrees during the day while we’re out of the house, hang items to dry, and avoid the drying cycle on the dishwasher. We do a lot to save, but if your electric contract is up don’t expect to get lower rates right now.

    Lower Rate Are Not In The Forecast

    Several factors keep electric rates high right now: the price of natural gas needed to make electricity is still high (Russia!). and retail electric providers are worried about another winter storm.

    “So now we’re worried about a problem in summer and then we’re worried about a problem in winter. So, what it means is we used to exit summer and I could find a really cheap, like six-month or eight-month contract to get me through the winter. And now winter is sometimes more expensive than summer.

    Some electric companies let customers move into lower rate if you agree to a longer-term contract but you have to watch out for early termination fees! If you’re contract is ending, you can source a better rate now and do it quickly-easily online…


    Please note that you will leave this website and connect to Chariot Energy.

    Don’t Let Your Electric Contract Auto-renew!

    If you have a couple of months before your contract expires, check rates regularly. Prices used to be relatively stable but these days they go up and down significantly.

    Save on Your Electric Bill

    GET THE BEST ELECTRICTY FOR YOUR BUSINESS

    We FORCE electricity companies to compete! Electricity providers will offer a lower price to us because they know they are competing for the business. This drives your price down!

    No matter your rate, there are some new fees on your bill you can’t control. Effective September 1st CenterPoint’s delivery charge went from $.038 per kWh to $.049. That’s a 29% increase in the base rate and approximately an extra $11 on the average electricity bill.

    Securitization charges are up too in order to provide a safety net for the entire Texas market after the mess from the recent winter storms.


    Other Ways to Lower Your Electricity Bill

  • Oncor Reports $229 Million in Profits While Texans Pay Higher Electric Rates

    Oncor is supposed to be Texas’ largest regulated utility, and they are milking residents for an extra $60 million in profits during the scorching heat wave this summer.

    As sweltering temperatures has driven electricity usage to new highs this summer (2022), Dallas-based Oncor’s quarterly profit soared an extra $60M in just one quarter to $229 million. The quarterly profits didn’t include July, which was one of the states hottest months on record.

    Oncor CEO Allen Nye thinks is has been a great quarter… for the company. For residents fighting economic slowdowns and inflation, not so much.

    Texas Electric Rate Oncor

    The second quarter brought on record heat, beginning one of the hottest summers on record. That heat has led to several new peak demand records, with ERCOT peak demand of nearly 80,000 megawatts for the first time in July. The market continues to grow and will require new generation, transmission and distribution resources. Oncor’s service area, the largest in the state, covers all of North Texas and parts of West Texas, Central Texas and East Texas. Oncor will need to be ready to make the investments necessary to support the needs of the growing state. The Texas company added 19,000 additional premises and saw a 73% increase in new transmission point-of-interconnection requests in the second quarter, which is an all-time record for new transmission interconnection requests.

    There is also an increase in major manufacturing expected to arrive in Oncor’s service territory over the next several years.

    A $5 billion silicon wafer manufacturing facility being built by GlobiTech has been approved, on top of another $30 billion semiconductor wafer manufacturing plant project being undertaken by Texas Instruments, both in Sherman. A Samsung chip manufacturing facility, estimated at $17 billion, is also coming to Taylor in central Texas.

    Oncor does not charge customers; instead, customers buy electricity through providers, known as Retail Electric Providers, and Oncor charges the providers for delivering their electricity. The company charges REPs a fixed amount monthly for each customer, plus a charge for how much electricity is used by the customer. Yet, they continue to increase their fees, which end of forcing Retail Electricity Providers to increase the electric rate they charge customers.

    Oncor is justifying the profit grab because it believes the territory has become a powerhouse for manufacturing critical to the future economic and national security of the United States. The profits were driven by increases in revenues from higher customer consumption attributable primarily to significantly warmer weather in the second quarter of 2022 and other factors, including increases in electric rates, the company said in a news release.

    Save on Your Electric Bill

    GET THE BEST ELECTRICTY FOR YOUR BUSINESS

    We FORCE electricity companies to compete! Electricity providers will offer a lower price to us because they know they are competing for the business. This drives your price down!

    Other Ways to Lower Your Electricity Bill

  • Texas Can Phase Out Coal with Wind & Solar

    Texas has enough wind and solar power to phase out coal entirely to reduce Electric Rates, but there’s a catch!

    According to a study by researchers at Houston’s Rice University, it would take just 1/3 of the solar and wind energy projects that have been proposed to phase out coal in Texas.

    The caveat is that the state’s energy grid is a mess, and it is standing in the way of a faster transition in Texas away from coal and toward renewables.

    “Transmission lines are the leading bottleneck that is slowing down the growth of wind and solar,”

    Daniel Cohan, Rice University
    Wind and Solar to Lower Electricity Rates

    Texas is Energy-rich so why are Electric Rates still high?

    As the top U.S. producer of crude oil and natural gas, Texas is easily one of the most energy-rich states in the country. It also leads the nation in wind power generation, which accounts for around 20% of Texas’s energy usage, while the state’s solar power industry is also growing fast. The potential for renewable energy in the state is massive! Unfortunately, Texas is also the country’s largest coal consumer.

    Dirty Energy & Electricity

    As the nation’s largest coal consumer, and biggest electricity consumer in general, how coal is phased out and replaced with clean energy in Texas would be crucial to meeting any nationwide climate agenda and to lead other states in the inevitable energy transition.

    Since June 2020, dozens of the new renewable energy projects have been approved, and the number of new proposals for solar and wind farms has doubled. But there’s still the huge problem…

    Texas Electrical Grid is Embarrassing  

    Different parts of the state can generate more energy at different times. Winds are strongest at night in west Texas, for instance, but tend to pick up during the afternoon in coastal southern regions of the state. You need a power grid to connect all those areas. Simply put, it’s not always windy and not always sunny, but it’s almost always windy or sunny somewhere in Texas. But without an extensive and up-to-date network of transmission lines to connect the electricity generated at these farms to cities, Texas’s energy transition will have to wait.

    In February 2021, Texas was hit by a historic deep freeze that led to prolonged power outages across the state. Although lawmakers blamed wind power and renewable energy for failing during the storm, the major culprit was the electrical grid’s dated infrastructure and aging transmission lines. After the storm, ERCOT, the private company that manages Texas’s electrical grid, came under fire for reportedly cutting corners and loosening regulations, leading to outdated and ill-equipped infrastructure.

    Progress Will Help Electric Rates

    Nationwide, aging electrical transmission infrastructure could soon be updated. In the recently approved infrastructure bill, the federal government laid out a financing plan worth over $15 billion to construct thousands of miles of new lines and upgrade existing ones.

    While Texas’s ERCOT has historically remained inflexible with regard to integrating with the national grids, it is beginning to intertwine itself more with neighboring power systems, such as through the ongoing $2 billion Southern Cross Transmission project.

    Researcher Daniel Cohan at Rice University believes that even though the infrastructure bill is a good start. More attention and investment is needed to sufficiently update the country’s power system. It’s nowhere near the scale of what’s needed nationwide to expand our transmission infrastructure.