Electricity cannot be stored as easily as gas, it is produced at the exact moment of demand. All of the factors of supply and demand will therefore have an immediate impact on the price of electricity on the spot market. In addition to production costs, electricity prices are set by supply and demand. However, some fundamental drivers are the most likely to be considered.
No deposit electricity plans also offer a subjective advantages. Thanks to smart meters, electricity providers can offer you smartphone apps that send notifications when your balance is getting low, so you can purchase more kilowatt-hours before your account drops to zero. However, this also means you will track your energy consumption more frequently, as opposed to only once per billing period. Energy consumers who monitor their kilowatt-hour usage tend to consume less energy that those who only wait for power bills once per billing period.
Technology that now allows smaller quantities of power to be generated closer to the end-users at prices not too much higher than grid-based power are undermining those economies of scale. More efficient turbines, for example, allow large power users like cement plants and petrochemical factories to come off the grid. Today the limiting factor for large companies to come off the grid often isn’t the efficiency of the power generation technology, but the lack of easy availability of fuel, such as gas or coal to power these turbines Even this problem is being solved by innovations like mini-liquefied natural gas projects.
There are over 60 different energy suppliers competing for your business on any given day in Texas. Many of these electric companies have websites that are confusing and nearly impossible to navigate, their rates and fees hidden by dense industry jargon and misleading advertising. Who has the spare the time to sort through the choices spread out over all these different sites and companies?