FBTX~ On behalf of Farmers Branch Power Switch, energy broker iChoosr has announced the results of a reverse auction held between electricity providers in an effort to lower rates for local residents using group buying power.
The winning rate is from family-owned Texans Energy and is an average of 9.3 cents per kilowatt hour. That average is derived from the provider's base charge of 5.5 cents, combined with Oncor's state-mandated delivery charges of about 3.5 cents per kilowatt hour and Oncor's fixed monthly delivery charge of $3.49.
By comparison, during the 'Bring Your Bill' event earlier this month at City Hall, some residents' existing rates were between 11 and 15 cents per kilowatt hour with one as high as 20 cents. Over the course of a year, the new rate could result in hundreds of dollars in savings.
Residents have been registering for the Power Switch since July in order to pool their buying power. Registration remains open through September 25.
Anyone already signed up for the program will begin to receive offer emails with the new rate after Labor Day. Residents then have until September 25 to accept or decline, and until December 31 to make the switch.
Anyone not participating in this program, or locked into a contract, will have another opportunity for Power Switch in the coming year. Find out more about the program at farmersbranchtx.gov/fbpowerswitch