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Electricity prices surged past a $9,000 a megawatt-hour price cap in Texas as extreme heat sent power demand skyrocketing.
Griddy customers felt the heat the most as extreme temperatures sent power demand skyrocketing and wholesale electricity prices surging past a $9,000 a megawatt-hour price cap in Texas.
Energy prices for Griddy customers were projected to be as high as $7.00 / kWh on August 16th, 2019.
Users shared screengrabs and voiced their frustrations online about how much they’ve been paying per kilowatt-hour. Many Griddy customers reported paying $100 or more daily to power their homes.
Why pay 7 dollarsper kilowatt-hour? Choose a fixed-rate plan on Compare Power today.
Griddy Energy reviews
See what Compare Power customers had to say as they switched away from Griddy during the wholesale price spikes.
The risk of wholesale electricity prices
As temperatures in the state climbed to 103 degrees Fahrenheit (39 Celsius), ERCOT issued an emergency alert, asking Texans to conserve energy and calling on all power plants to ramp up production.
When demand goes up, so does the price! Real-time consumers are at risk during a price surge such as this one.
Playing the wholesale market is a massive gamble as the wholesale price of electricity fluctuates wildly based on many factors, including weather, maintenance issues, and the time of day, leaving consumers vulnerable when prices skyrocket during peak conditions.
The bottom line is when you need electricity the most, you pay the highest price.
People prefer predictability and stability in their energy choice.
The best way to have a predictable energy bill is to lock in a fixed rate and not gamble by guessing what the wholesale price of electricity will be in the future.
Compare Power lets you find and compare low fixed-rate plans from multiple Texas electricity providers, ensuring you are getting the best rate possible for your contract term.
Compare Griddy Energy rates with competing Texas energy plans
| Provider | Plan | Price | Term | Cancellation Fee | Type | Docs | |
|---|---|---|---|---|---|---|---|
A | APGE | SimpleSaver 12 Credits | $0.0680 per kWh | 12 Mo | $150 | Fixed | |
A | APGE | SimpleSaver 10 Credits | $0.0680 per kWh | 10 Mo | $150 | Fixed | |
4 | 4Change Energy | Maxx Saver Value 12 Credits | $0.0690 per kWh | 12 Mo | $20/Mo remaining | Fixed | |
F | Frontier Utilities | Saver Plus 12 Credits | $0.0690 per kWh | 12 Mo | $150 | Fixed | |
G | Gexa Energy | Eco Saver Plus 12 Green Credits | $0.0690 per kWh | 12 Mo | $150 | Fixed | |
G | Gexa Energy | Saver Plus 12 Credits | $0.0690 per kWh | 12 Mo | $150 | Fixed | |
R | Rhythm Energy | Rhythm Max Saver 12 Green Credits | $0.0690 per kWh | 12 Mo | $20/Mo remaining | Fixed | |
E | Energy Texas | The Lone Saver Plus 12 Green Credits | $0.0690 per kWh | 12 Mo | $20/Mo remaining | Fixed |
Total: 122 plans Utility: Oncor Fetched: 9:29 PM
How to choose the best electricity plan in Texas
Selecting a Griddy Energy plan without knowing your home’s energy usage can cost you hundreds or thousands of dollars.
Switching providers? Energy rates on Compare Power can be customized to your specific historical power usage.
Moving? Compare Power helps estimate your new home’s energy usage, ensuring you choose the best plan for your household.
Lock in the best rate by comparing competing energy plans on Compare Power. Enter your zip code to compare energy company plans for your specific usage in your service area.
The #1 most important thing: Know your usage!
The key to avoiding overpaying is knowing your expected usage and comparing monthly costs for each plan based on that usage amount.
With things like gasoline, the “price per gallon” you see on the sign is the price you pay no matter how many gallons you pump.
$3 per gallon. Pump 10 gallons, and pay $30. Simple.
Electricity in Texas is not as simple as buying gasoline. The advertised “price per kWh” is based on a specific, exact monthly usage (usually 2000 kWh).
And each plan has a different calculation for determining your monthly bill.
Your effective “price per kWh” can only be determined by calculating your monthly bill, then dividing that monthly bill by your usage.
Advertised “price per kWh” can be misleading because it’s based on a specific usage like 2000 kWh. It’s best to shop based on the total bill for your home’s expected usage.
How do you do that when the math is complicated, and every plan differs?
Compare Power has already done all this complicated math for you.
First, we help you determine your expected monthly kWh usage. Then we show you the plans and their total monthly cost for your usage.
Business electricity
Click hereto get competing quotes for your business electricity.
You need to compare prices from competing energy companies to find the best commercial electricity rates.
Compare Power bridges the gap between your business and energy companies by inviting various energy providers to compete for your business in a sealed bid process.
You submit your information once, and the providers will present their bids. You choose the cheapest price. Simple, quick, and easy.
Texas energy companies
Showing 30 active providers · residential. Sorted by Google rating.
Switch to a predictable fixed-rate plan from a trusted Texas energy provider.
Instantly enroll for service with great electricity providers such as TXU Energy, Reliant, Direct Energy, Green Mountain, and more.
Click on the provider of your choice to view rates, learn more, or sign up.
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