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Midland Electricity Rates

Midland Electricity Rates

Lowest electric rates in Midland today:

Source: EnergyBot (updated daily, averages based on 4 month trends)

Midland Energy Market Data

Last updated November 2020

  • The average Midland commercial electricity rate was 7.78 ¢/kWh (28% lower than the national average).
  • The average Midland residential electricity rate was 11.74 ¢/kWh (11% lower than the national average).
  • Texas ranks 4th for the lowest commercial electricity rates in the U.S.
  • Texas ranks 31st in the nation for the cheapest residential electricity rates.
Source: Texas energy data from The U.S. Energy Information Administration (EIA)

Midland, Texas Energy Rates

Compare Midland electricity rates from top energy companies

Midland Skyline

In 2002, the Texas legislature approved energy deregulation – paving the way for a competitive energy market. As a deregulated electricity market, state’s retail energy companies would need to compete - against each other - for the millions of Texas residential and business customers. The goal of a deregulated, or competitive energy market, is to give the power to choose to the consumer – which forced Midland electricity providers to be more efficient and lower costs – and offer improved customer service and lower rates to their customers. Going forward, the home and business customers of energy suppliers would have the ability to switch to a new energy provider (at the end of each contract) to maintain the advantage of the deregulated market.

For small and medium sized businesses to larger corporations, the deregulated market in Texas has flourished in the new era of competition. Today, every home and business can compare energy plans from top energy suppliers and shop for the best rate available – and then make the switch.

In an analysis of the energy data, most businesses can effectively reduce their monthly electricity costs by pro-actively researching providers and switching energy plans every 12 to 24 months.

Midland commercial electricity 

If you are a business in the deregulated energy market of Midland, Texas, you now have the power to choose your electricity supplier and your rate. To compete for your business, energy suppliers are forced to be more efficient, as well as offer customer-centric business energy plans with competitive energy rates.

Even though you have the power to choose, it can still be a daunting task. In each specific zip code, today’s commercial customer will have hundreds of plans from at least 20 different energy suppliers to choose from. And although the intended result of deregulation was to lower prices for small businesses, medium businesses and larger enterprise level businesses, it’s not that simple. In many cases, comparing energy plans is still confusing due to the sheer number of plans available, promotional rates that are not apples-to-apples and the legal fine print that details fees and penalties.

Commercial energy customers can maintain control over the process by reviewing their monthly usage and average monthly electricity bill. A good rule of thumb to follow based on the amount of the monthly bill. 

If your average business electricity bill is under $500 per month, then you can get a very good energy rate for your business through a simple online comparison of energy rates. 

If your average commercial electricity bill is over $500 per month, then you will most likely get a more competitive energy rate through the custom energy quote process. The custom process is exactly that – by providing basic business information, energy usage and submitting a recent electricity bill – EnergyBot can leverage partnerships with suppliers to work on your behalf and secure the best energy rate for your business. Although it will take more time to complete, the custom quote process may deliver a lower energy rate that will add up to big savings for your business. 

For Midland businesses, researching Midland energy rates and switching to a new electricity plan can be time-consuming and frustrating. EnergyBot is built to make energy simple and help businesses find the best electricity rate quickly and easily. 

Along with saving time, EnergyBot also helps businesses cut energy costs by 15%. As a pure online company, we eliminate the costly overhead fees and sales commissions that are associated with third party energy brokers. The days of paying too much for electricity is over. EnergyBot is committed to giving you a real choice. 

Renewable energy plans in Midland

Renewable energy is becoming more and more viable every day. Several energy suppliers focus completely on green energy plans and even more suppliers offer partial green plans.

We are constantly finding new ways to give Midland businesses and residents more renewable energy options. This includes solar, wind, hyrdo, and even geothermal energy solutions. You can find out more about our green energy solutions here

Midland has been growing its renewable energy footprint for the past 10 years by subsidizing solar panels and wind energy projects. In fact, Midland recently partnered with the Texas Tech University System to form the National Institute for Renewable Energy working to solve problems facing the wind power industry. 

Switch Electricity Providers in Midland

In a deregulated energy market like Texas, residential and business customers have the power to compare energy suppliers and plans and then switch at their discretion – based on any existing contract terms, renewal dates and fees.

Step 1: Compare energy providers and energy prices online

This is the easy part and it starts online. Today, businesses have a variety of online websites and tools to search and compare energy providers, plans, and rates. The best way to compare providers is to use a simple website like EnergyBot.com. In less than 5 minutes, you can enter basic information about your business, like your zip code and monthly electricity bill, and then search and compare dozens of top energy suppliers in your area to find the lowest energy rate.

Step 2: Take time to review the energy plan details

When you are comparing electricity plans, it will pay – literally – to take time to review the plan details, contract terms, and legal copy. Energy companies may entice you with a low rate, yet the fine print will reveal that it is a variable rate – that is only applicable when you are in a specific range of kWh usage. Also, review the contract term, cancellation fees, and out clauses before signing up for a new plan.

It’s important to do our research and we have you covered. Check out this article to learn more about the different types of energy plans and rates.

Step 3: Upload your most recent electricity bill

In many cases, the energy supplier, broker or website that you are using to find a new electricity plan will ask you to upload your most recent electricity bill. Although this may feel a bit intrusive, it provides pertinent account information and is important to securing the best energy rate available for your business. Your energy bill has your business information as well as the data that outlines your monthly energy usage.

To add, your new energy supplier will require proof of your energy usage before you can switch and your electricity bill is the easiest way to meet the requirement.

Step 4: Request a custom electricity pricing quote

If you own or manage a larger business with high energy usage (and higher monthly bill), then it may be beneficial to request a custom pricing quote. For larger companies, the process is a bit different. Due to your high energy usage, energy suppliers require a comprehensive review of your energy usage to provide a custom quote on a new plan and rate. At EnergyBot, you can get custom pricing support from one of our energy experts.

Step 5: Confirm the switch to a new energy provider

After authorizing a switch to a new energy provider, you will receive a confirmation email with the plan details and start date. It’s very important to review the plan you authorized and the new start date. The transition to a new supplier will be seamless…you won’t even notice until you get the electricity bill the next month.

Frequently Asked Questions About Midland, Texas Energy

What is ERCOT?

Electric Reliability Council of Texas (ERCOT) is a membership-based nonprofit corporation that is governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature and is tasked with managing the flow of power to 26 million Texas residents, 8 million locations and 90% of the Texas grid. ERCOT members encompass many stakeholders –  including consumers, cooperatives, generators, power marketers, retail electric providers, investor-owned electric utilities, transmission and distribution providers and municipally owned electric utilities.

What is the difference between a Utility and an Energy Provider?

Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utility in Midland is responsible for transporting electricity from the generators to residential homes and businesses in this specific region.

Energy providers in Midland like TXU, Direct Energy, and Cirro are the competitive energy retailers. In Texas, these companies are called Retail Electric Providers (REPs).

Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).

In most cases, the consumer, the homeowner, renter, or business, signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like cancellation fee policy.

What is Power to Choose (powertochoose.org)?

Power to Choose is the official and unbiased electric choice website. Sponsored and managed by the Public Utility Commission of Texas (PUC), PowerToChoose is a consumer website that enables retail electric providers to list energy plans.

Currently Power To Choose does not have the ability to show business rates.

Types of Energy Plans offered in Midland

Energy suppliers offer two different types of plans for residential and business customers: a fixed-rate plan or a variable-rate plan.

Each type of plan has its respective pros and cons. As a Texas customer, it’s important to understand the two types of plans before signing up for an electricity plan for your home or business.

Fixed-Rate Electricity Plans in Midland

The simple definition of a fixed-rate plan is that you are signing a contract with an energy supplier that offers a fixed-rate – meaning that the rate will remain constant for the term of the contract. Regardless of weather, natural events like tornados, or market volatility, your rate will not change. In most cases, a fixed-rate plan will have a term length of 6, 12, 24, or 36 months.

Variable-Rate Electricity Plans Midland

The simple definition of a variable-rate plan is that you are signing a contract with an energy supplier that offers a variable-rate – meaning that the rate may change on a monthly basis based on market factors. Variable-rate plans offer more flexibility but also present more volatility in pricing which may impact your monthly electricity bill.

It is important to audit your energy usage and then select the right plan – a fixed-rate plan or a variable-rate plan – before signing a contract with an energy supplier.

Electric Rates in Midland

How much is electricity in Midland, Texas? Rates updated daily

Midland Oil and Wind Farm

About Midland, Texas

Known as the Tall City, Midland is the 24th largest city in the state of Texas with a population of 142,344 residents. Located midway between Fort Worth and El Paso on the Southern Plains, Midland covers an expansive area of 71.5 square miles.

The high rises scattered throughout the city gave Midland the nickname The Tall City. Currently, the 24-story Bank of America Building is the tallest building between Fort Worth and Phoenix. It stands at an impressive 332 feet tall. There’s also the Wilco Building built in 1958 with 22 floors and a height of 308 feet. These skyscrapers give Midland one of the most beautiful skylines in the state of Texas.

Midland also has a thriving art scene with Midland College’s McCormick Gallery located in the Allison Fine Arts building. They showcase the artwork of their students, faculty, and visiting artists. The Arts Council of Midland helps promote this gallery giving huge support from the community for these up and coming artists. There’s also the Museum of The Southwest which showcases a collection of paintings by members of the Taos Society of Artists and Karl Bodmer. This further builds the community’s support for their local art scene. It makes Midland a great place to visit for any art enthusiast or up and coming artists.

Texas Business Profile

The 2.7 million small businesses in the state of Texas employ over 4.74 million people and added nearly 95,000 net new jobs, according to the latest SBA Small Business Profile. The economic growth in Texas has remained strong as the unemployment rate dropped from 4.1% to 3.8% in 2019.

Midland, Texas oil pumpjack

Midland, Texas Business Profile

Founded in 1884, Midland is home to a vibrant economy that primarily revolves around the oil and gas industry and local government jobs. This abundance of oil and gas jobs in Midland brought down the unemployment rate to just 2.1% in October of 2019, one of the lowest in the nation. 

The oil and gas industry that helps Midland thrive is spread out throughout the county. They rank second in the state for production based on barrel of oil equivalents (BOE). Throughout the county there are 8,882 active wells that produce 1,603 BOE per day. In 2019 alone, these wells produced over 161.4 million barrels of oil and over 3.7 million mcf of natural gas. This huge boom of oil and gas in Midland county brought huge growth in pay for all workers ranking as the fastest growth in pay throughout the nation in 2018.

Midland is poised to continue its amazing growth as pay rates increase and unemployment rate decreases thanks to the booming oil and gas industry throughout Midland county.

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