The Latest News & Updates
The latest news and updates from Wizard Energy, an INDEPENDANT Electricity Broker…
We work hard to help small to medium size businesses lower their electricity bills and get a lower electric rate.
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Update on Electricity Rates in Texas
The rate Texas residents pay for energy has skyrocketed in recent days, as hotter-than-usual temperatures cause demand for electricity to soar across the state. Power usage hit its most recent record of 85,435 megawatts on Aug. 10, according to the state’s agency. And, electricity usage in Texas has broken daily record highs 10 times already… Read…
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Texas Electricity Demand Spikes (Summer 2023)
The demand for electricity throughout Texas surged to its highest point ever two days ago (Tuesday, June 27) when rising temps and massive heat dome covered the state. A heat wave continues to bake Texas for two weeks now reaching 100+ temps. Electricity Demand in Texas is Scorching ERCOT (Electric Reliability Council of Texas), which… Read…
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Lubbock Electricity Market Opens up to Competition
For Lubbock, cost was one of the many reasons the city council decided to take the step to join ERCOT. In a recent study, the utility found that electric costs could drop an estimated $148.9 million annually for the city of Lubbock. Additionally, due to overall electric demand, if Lubbock remained disconnected from the ERCOT… Read…
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Texas Electricity Price & Energy Grid Update
The state of the Texas electricity grid continues to be a point of anxiety for residents and business owners. It is a complex and evolving issue in Texas politics. In recent years, the grid has come under scrutiny due to a number of factors, including the 2021 winter storm, rising natural gas prices, and the… Read…
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New Plans to Fix Texas Power Grid Will Cost Residents Billions
The Texas Senate has put forward a number of proposals aimed at improving the state’s electricity infrastructure. Senate Bill 6, for example, seeks to establish the Texas Energy Insurance Program, which would provide backup power in the event of an emergency. While some have expressed concerns about the cost of this program, it could ultimately… Read…
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Texas Regulators Pass Electricity Market Reform
The Public Utility Commission has decided to make a big change to the state’s electricity market in what looks to be a controversial measure to make the system more reliable. The agency said it will let the Texas State Legislature review its plan before activating it. The idea is a performance credit mechanism (first-of-its-kind) that… Read…
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Electricity Prices Dropped A Little
Electricity Rate Data – November 2022 Current average retail rate of electricity: $.1393 per kWh Current range of electricity prices in Texas: $.104 to $.207 per kWh Average monthly electric bill: $157.69 Average energy usage: 1,094 kWh Please note that the following electricity prices are as of Nov 2022 and may have changed. Oncor Electricity… Read…
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Higher Natural Gas Prices = Higher Electricity Rates
The U.S. Energy Information Administration says in the December Short-Term Energy Outlook that U.S. wholesale electricity prices will be higher and more volatile this winter – from 31% higher than last winter in Texas. Highlights from the December Short-Term Energy Outlook: Wholesale Electricity Prices Affect Retail Electricity Prices It is expected that electricity customers in… Read…
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Texas’ Proposal to Overhaul Electric Power
After the gnarly 2021 winter storm, the Texas Legislature ordered an overhaul of the state’s power market to prevent future blackouts, but many legislators don’t like the option on the table The Public Utility Commission of Texas unveiled a proposal (supported by Chair Peter Lake) that intends to pay power generators to make sure they… Read…
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Crypto Struggles as Prices of Electricity Rise & Imaginary Money Falls
We have to admit that we rather enjoy jumping on the dogpile of crypto fans A crypto hodler, crypto investor, and crypto analyst are in front of your house… how do you get them off your porch? Crypto prices are crumbling but bitcoin continues to stay around $20K. It is just astounding that the price… Read…
