There are some potentially big changes coming down the pike in Texas. The PUC (Public Utility Commission) is considering regulator changes that will have a significant impact on business electricity rates, most likely driving them up quite a bit. But, as industry experts analyze and forecast the possible stormy future of the energy market, there is another stormy element for us to keep in mind—the literal weather.
Last week, Texans all over the eastern half of the state were reminded that Mother Nature is very active in our state. Residents and commercial electricity customers from as far south as Houston all the way up through Fort Worth and into Wichita Falls experienced outages due to severe thunderstorms. The rain and wind caused damage to power lines and left some without power until the following day, and these storms didn’t bring tornadoes with them.
It serves as a vivid reminder of how critical weather is in the delicate balance that is the commercial electricity market.
We’re close to the end of what is known as tornado season, March-June here in Texas, but we are just beginning hurricane season, which runs from June until November. While many are predicting it will be a light hurricane season this year, there are two important factors to keep in mind: one, we don’t know. While meteorologists are often right, the science of weather is an art as much as a science. In truth, we won’t know if there will be significant hurricanes or not until they form or don’t form.
And, two, storms, such as hurricanes, tornadoes and severe thunderstorms, are but one way that weather can impact the cost of business electricity rates. In addition to tornado and hurricane season, another important season hits this week: summer. Summers in Texas mean heat, and plenty of it. The spike in usage created from the heat has an unquestionable effect on the business electricity market, particularly at times (like now) when we may or may not have enough generation to handle the need.
What does that mean for your business and your energy costs?
Much like forecasts for this year’s hurricane season, we don’t know yet, but it looks likely that prices will be going up. The good news, however, is that there are things you can do to lower your commercial electricity costs and stay ahead of the curve. As is always the case when storms are on the horizon, an ounce of prevention goes a long way.
The Live Energy team has been helping businesses just like yours manage their electric utilities costs for the last 10 years—since day one of deregulation in the state of Texas. We use industry-leading technology and proven strategies to help our clients navigate the market, whether conditions are calm or stormy. Our goal is simply to save you time and money by putting the tools at your fingertips to make the best possible business electricity decisions you can make.
If you’d like to talk to one of our experts about how we can help you lower your energy costs in the coming years, whatever the market conditions, please give us a call at (817) 810-7770. If storms are coming, it’s our job to help you get ready for them.