The details
While statewide issues are the biggest contributor to rising electricity prices, Cypress homes could see higher electric prices due to home size and usage rates, according to Cypress-based Electricity Plans, a digital resource that helps homeowners and business owners find the best electricity plans for them.
Cypress homes are larger than the average home in the Houston area, coming in at an average of 2,800 square feet compared to 1,952 square feet. Cy-Fair homeowners have an average monthly electricity bill of $205.79 compared to the state average of $172.05, said Rebecca Bridges, chief marketing officer for Electricity Plans.
Nearly 60% of Texans said cost was the primary reason for choosing their electricity provider, according to a survey conducted by Electricity Plans. Officials provided the following tips to help homeowners lower their electricity bills:
- Set your thermostat more conservatively to conserve energy
- Maintain your HVAC system with regular tune-ups and air filter changes
- Close blinds in rooms with south-facing sun exposure
- Be mindful that costs will rise in the summer months
- Shop for lower rates up to 60 days ahead of your contract expiration
Average electricity prices in Texas have increased by over 60% since 2021, from an average of $0.10 per kWh to over $0.16 per kWh for a 12-month contract, according to Electricity Plans.
“Electricity prices used to be very closely tied to the price of natural gas, and we no longer see that,” Bridges said.
Bridges said the 2021 winter freeze was a major turning point, triggering widespread power outages and shaking public trust in the state's power grid. The resulting infrastructure and regulation changes have contributed to price hikes, she said.
Those outages have led to 54% of Texans saying they don't trust the Texas power grid to handle extreme weather, according to the survey.
