Unprecedented August 2019 Texas Energy Rate Spike
August Index rates spiked to $9000/MWh for 15 minute intervals. That’s a 40,000% increase from normal prices that made national news in Texas. Up till this last month Index pricing has always outperformed fixed in Texas. We’ll see if that is the case again in 2019.This market shift might change the outlook on Index being a better option than fixed for long term savings.
Meanwhile if you are on an Index plan and have a high bill, deferred payments or changing to a fixed plan are available options. Attached is the chart of fixed versus Index pricing up till now and also the chart of Index pricing since 2007.
Last time a spike like this occurred in 2011, four months later was the lowest time to fix a contract in several years. It may be advantageous to keep an eye on the market for fixing a contract soon.
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