With record heat this summer, Texas residents expected hefty energy bills. But one Dallas customer was shocked when his electricity bill was over $1,200, CW 33 reports.
Kevin Peterson's electric bill in August was such a major shock that he assumed it was an error. However, the costly increase was due to the fact that he was charged nearly triple the average rate, approximately 12 cents per kilowatt hour. On Peterson's bill, he was being charged 21 cents per kWh, according to the news source. When he first agreed to the plan, the introductory rate was a great deal. In June, he was paying 7 cents per kWh.
The rate could change because Peterson and his wife signed up for a variable rate electricity plan, which means the rate fluctuates as much and as often as the provider sees fit.
While the price tag may be extreme, Peterson's experience is not out of the ordinary. Customers across the country often must choose between a fixed or variable rate electricity plan, and the right decision for each homeowner can only come after careful consideration. Comparing electricity rates at their initial cost and for their potential to increase or decrease is important to getting the best deal.