Electricity can be one of the most expensive bills when renting an apartment. However, choosing the right energy provider can significantly reduce your utility bill so you can save money for the things that matter most to you. Whether you prioritize affordability, renewable energy, or exceptional customer support, this guide will help you find the perfect energy plan for your apartment.
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The best electric companies for apartments in 2024
The best energy companies for apartments offer various plan lengths that match your lease and additional benefits based on energy usage. Read on to learn more about the best electric companies for apartments.
TXU Energy
As the highest-rated provider on SaveOnEnergy, TXU Energy stands out as a top option. The company is known for its exceptional customer service and a variety of energy plans, so you can find reliable services to fit your apartment’s energy needs. All TXU plans come with a 60-day satisfaction guarantee, so you can switch providers or plans within 60 days of enrollment if you’re unsatisfied with your service. With various fixed- and variable-rate plan options, you’re likely to find a TXU Energy plan that fits your needs and budget.
Best plan for apartments: Smart Edge 12
TriEagle Energy
As another top-rated provider, TriEagle Energy offers 12-, 24-, and 36-month energy plans for apartments. If you sign a three-year lease, you could save money on energy costs by securing a 36-month low-rate plan. The longer the contract, the lower the rate for all TriEagle plan options. TriEagle also offers a 60-day satisfaction guarantee and 100% renewable energy plans. You can receive a $50 bill credit when you use at least 1,000 kilowatt-hours (kWh) of electricity per month for Real Deal plans.
Best plan for apartments: Real Deal 12
OhmConnect
Since entering the deregulated market in 2022, OhmConnect offers many plans and benefits for residential electricity customers. OhmConnect offers an energy-saving app to learn about your usage and how to save money during peak demand times. You can participate in OhmHours, a designated time to reduce usage and earn cash or prizes. For energy plan options, you can choose a 100% renewable plan for 12 or 24 months. The OhmSaver 12, 24, or 36-month plan is a fixed-rate option made up of about 25% renewable power.
Best plan for apartments: OhmSaver 12
Gexa Energy
If you’re interested in reducing your carbon footprint, you can receive 100% renewable energy from all Gexa Energy plans. The company offers a variety of bill credit benefits ranging from $50 to $150 for electricity usage from 500 kWh to 2,000 kWh. Gexa is a top-rated provider with lower rates than TXU Energy and TriEagle and offers a 60-day satisfaction guarantee. With Gexa Energy you can power your apartment with green energy for 12, 24, or 36 months.
Best plan for apartments: Gexa Eco Saver Value 12
Veteran Energy
Veteran Energy is an electricity provider committed to offering competitive rates throughout Texas while supporting military veterans and service members. Veteran Energy partners with charities like Paws for Heroes and Fisher House to support the veteran community. You can choose from 12-, 18-, 24-, and 36-month plans, including 100% renewable energy options, all backed by a 60-day satisfaction guarantee. Most plans offer a $50 bill credit for each month you use at least 1,000 kWh.
Best plan for apartments: Valor 12
Same-day electricity providers for apartments
If you’re waiting until move-in day to enroll in an energy plan, consider choosing a provider offering same-day electricity setup. Most electricity companies, like TXU Energy and Reliant Energy, will power your apartment the same day you sign up if you enroll before a certain time. The deadline varies by provider, but the earlier you enroll the more likely you will receive service quickly.
Everything to know before signing up for an electricity plan
Before enrolling in an energy plan, it’s important to consider your average usage, evaluate plan length options, and review contract terms and conditions to ensure that it’s the best fit for you.
Your average usage
Your monthly energy usage is an important factor in choosing an energy plan. Review past energy bills or use our electricity consumption calculator to estimate your monthly usage. When exploring plans, consider choosing options with benefits for your usage. For example, if you use over 1,000 kWh per month, you should choose a plan with a bill credit matching your usage.
Short-term vs. long-term plans
Consider the benefits of a short- or long-term plan based on your lease length and energy preferences. Short-term plans offer flexibility but often have higher rates than long-term plans. If you recently signed a 12-month lease, then a 12-month energy plan provides a stable rate for the length of your lease. If you only have a few months left on your lease, you may consider a short-term variable-rate plan, so you don’t have to pay cancellation fees.
Contract terms and conditions
Thoroughly read your chosen plan details, known as the Electricity Facts Label (EFL) to understand potential early termination fees (ETF), base charges, and renewal options. Knowing about potential costs prevents any surprises on your monthly energy bill.
Average apartment electric bill
Electricity costs for apartments vary by usage and location. The average residential electricity rate in the U.S. is 16.88 cents per kWh based on the latest Energy Information Administration (EIA) data. Monthly bills vary based on your energy plan type, location, and local utility charges. Compare the average costs of electricity for one and two-bedroom apartments.
Average electric bill for a one-bedroom apartment
The average electric bill for a one-bedroom apartment is typically $84–$168, which is calculated by multiplying the average electricity rate and usage of 500 to 1,000 kWh.
Average electric bill for two-bedroom apartments
The average electric bill for a two-bedroom apartment is typically $135–$203, which is calculated by multiplying the average electricity rate and usage of 800 to 1,200 kWh.
Electric companies for apartments FAQ
Heating and cooling use the most energy in apartments. You can reduce your electricity bills by using a smart thermostat, managing air conditioning costs, using fans, and other energy-efficient habits.
Depending on the size and location, apartments use about 20–30 kWh daily. Based on the average U.S. residential energy rate, daily apartment electricity costs about $3.38–$5.06 per day.
Yes, there are differences in electricity needs between apartments and houses. Apartments are typically smaller and may have shared utilities within the complex. There may be specific restrictions for energy company selection if a property management company owns the complex. Additionally, apartment residents may have limited control over lighting and appliance choices, impacting potential energy savings compared to homeowners who choose energy-efficient options.