Compare Lubbock Electric Prices

The power to choose your energy in Lubbock

Residents of Lubbock joined their deregulated neighbors in choosing an energy provider on January 5, 2024. Thanks to energy deregulation, many residents across Texas have had the power to choose their electricity provider since 2002. However, not every part of the Lone Star State has adopted this approach. Lubbock, a city in northwest Texas, is one of the most recent to accept deregulation.

If you live in Lubbock or plan to move there, staying informed about Texas electricity rates can help you save money on energy. SaveOnEnergy.com® keeps the process straightforward with a comprehensive guide to Lubbock electricity plans.

SaveOnEnergy.com is not affiliated with Power to Choose, powertochoose.org, or the PUCT

Compare today’s Lubbock electricity rates

Understanding energy deregulation in Lubbock

The ability to choose your Lubbock electric provider is new to the city — but it’s not a new concept in Texas. On April 4, 2024, all Lubbock residents defaulted to a month-to-month energy plan unless they choose an energy provider. The default electric companies include Reliant Energy, TXU Energy, and Octopus Energy.

While the default companies are some of the best Lubbock electric providers, month-to-month plans often have higher rates and are not designed to fit your home’s energy usage. With deregulation, you can shop for an electricity plan that fits your budget and needs.

Navigating your energy plan options is simple with SaveOnEnergy. Our team of energy experts is here to help you along the way. If you have questions, call the number on your screen or explore our deregulation resources.

Benefits of deregulation in Lubbock

Deregulation allows energy customers to choose their energy provider. Other benefits of deregulation include:

• Increased competition: Energy providers compete to offer the lowest rates and best energy plans.
• Innovation: Companies tailor plans to meet your needs and find innovative ways to attract new customers.
• Customer service: Providers aim to meet the goals and needs of customers in a competitive environment, potentially resulting in higher quality customer service.
• Flexibility: You can choose your electric provider and plan based on your specific situation and energy needs.

How to find the best Lubbock electricity providers

Electricity rates are based on energy demand, which changes throughout the year. Lubbock energy providers will adjust their rates as demand changes. Stay ahead of fluctuating Lubbock electricity rates with the SaveOnEnergy marketplace. Use our site to search, compare, and sign up for the best energy plans, regardless of the time of year. Here’s how it works:

• Enter your ZIP code. Get started by exploring the SaveOnEnergy marketplace to find the best electricity rates in your area. You can further filter your results by plan type to find the best fit.
• Select your plan. Once you find the right plan for you, you can easily sign up online or call one of our energy experts at the number on your screen to complete the process.
• Relax and enjoy your new service. Your new electricity provider will handle all setup and transfer logistics. You won’t need to worry about interruption to your service — the transition will be smooth and easy.

Types of plans in Lubbock

Lubbock residents are able to  choose from several different types of plans to meet their energy needs. Read our complete guide to picking a plan, and if you have further questions, call the number on your screen for more information on plan options.

The following describes common electricity plan types you’ll find on the SaveOnEnergy marketplace.

Fixed-rate plans in Lubbock

Fixed-rate plans are ideal if you prefer predictability and consistency. With this option, you’ll sign a contract for 6–36 months, and your rate remains unchanged throughout the period. Depending on your Lubbock electric company, you may have to pay an early termination fee (ETF) if you cancel your plan before the contract ends. If you’re moving to a new address outside of your current provider’s service area, you will not pay an ETF.

Variable-rate plans in Lubbock

Variable-rate plans can offer flexibility as the rate fluctuates based on market conditions, allowing you to take advantage of potential cost savings during periods of lower energy prices. You are not required to sign a contract or make a long-term commitment, so you can switch anytime without fees. These plans sound appealing, but the electricity rate per kWh may be more expensive than a fixed-rate plan. Variable-rate plans best suit customers willing to monitor prices and adjust consumption based on rates.

No-deposit plans in Lubbock

Electricity providers typically require a credit check before you begin service. They may ask for a deposit if your score doesn’t meet a certain threshold. No-deposit plans, including prepaid plans, allow you to avoid the deposit and pay for your electrical service upfront each month.

Green electricity in Lubbock

Every electricity plan in Texas includes a portion of green energy, like wind and solar. You can find the exact percentage listed on your plan’s Electricity Facts Label (EFL). Several providers in Texas offer plans featuring 100% green energy, such as Gexa Energy and Smart Energy.

Business energy plans in Lubbock

Lubbock residents aren’t the only ones who benefit from energy deregulation — businesses can also compare rates and choose their own energy plans. Visit our commercial energy hub to learn more and find a plan that fits your business’s needs.

Calculate your energy usage in Lubbock

Knowing your energy usage habits can help you decide what type of plans and electricity rates are right for you. Use our energy calculator to find out your typical usage so you can make an informed decision.

Electricity rates in my area

In Texas, electricity rates vary due to differences in the rates utility companies charge to transmit power. The average electricity rate in Texas is 14.68 cents per kWh, according to the latest Energy Information Administration (EIA) data. The rate for your home address may vary. By entering your ZIP code, you can compare all-inclusive rates for your home.

Average Lubbock electricity rate based on kWh usage

In Lubbock, electricity rates are structured based on usage in kilowatt-hours (kWh). For residential consumers, the average purchase price at each usage level is as follows:

• 19.6 cents for 500 kWh.
• 17.4 cents for 1000 kWh.
• 17.9 cents for 2000 kWh.

How weather affects Lubbock electricity rates

The weather has a significant impact on energy usage, and therefore, electricity demand changes throughout the year. In Lubbock, summer temperatures reach the 90s, and winter temperatures typically drop below freezing. Demand is higher during extreme temperatures due to the use of heating or air conditioners. Electricity rates are usually more affordable during milder seasons.

To get the best electricity rates in Lubbock, buy a plan during spring or fall when demand is lower. This is also a great time to switch plans if you’re not under contract. If you terminate a contract early, you may have to pay an ETF if you have a fixed-rate plan. Find the cost of your ETF on your plan’s EFL.

Cheap energy prices in Lubbock

Energy rates in Texas fluctuate throughout the year as seasonal weather can impact demand. The following graph displays the average residential electricity prices in Texas based on data from the Energy Information Administration. SaveOnEnergy partners with the best energy companies to help you secure the cheapest Lubbock electricity rates. Enter your ZIP code to get started.

Energy providers and utility companies in Lubbock

In a deregulated market, your energy provider (also called your electricity or power company) and your utility play different roles in supplying your electricity. The utility company delivers power, maintains the electrical infrastructure, and restores power during outages. You can’t choose your utility company, as it’s based on where you live. However, you have the freedom to choose your electricity company in Lubbock. The electricity provider manages the details of your account, such as billing and usage.

• Utility company: In Lubbock, your utility company is Lubbock Power & Light.
• Electricity providers: Beginning January 5, 2024, Lubbock residents had several energy providers to choose from, including Reliant Energy, Payless Power, TXU Energy, and more.

Power outages in Lubbock

If your power goes out in Lubbock, call Lubbock Power & Light, not your energy provider, to restore your power. Call 806-775-2509 or visit here to report your power outage online.

SaveOnEnergy’s tips for easy electricity service setup

• Read your EFL.It contains important information, including:
  • Price per kWh based on your energy usage
  • The plan’s percentage of green energy
  • Early termination fees
• Enjoy hassle-free supplier setup. Once your order is confirmed, your new supplier will set up service with your utility, or transmission and distribution service provider (TDSP) — but don’t worry, there shouldn’t be any interruption to your power during the switch.
• Understand your electricity bill. Your local TDSP will still deliver your electricity and maintain electric infrastructure, including meters and power lines. Your utility fees appear as TDU or TDSP charges on your monthly bill. They are independent of your supplier rate.