Source Power and Gas
Source Power and Gas serves customers in multiple states, including Texas. It offers a choice of plans, including renewable energy plans, and online account management with e-billing and autopay options.
Our Take On Source Power and Gas
Based on our analysis of available offers and of online customer reviews, we rate Source Power and Gas 4 out of 5 stars
What we like about Source Power and Gas:
- Good variety of plans
- 100% renewable plans available
- Clear and transparent terms and conditions
What made Source Power and Gas lose some points:
- High monthly minimum charge
|Plan Type||Contract Length||Features||Early Termination Fee||Our Thoughts|
|Residential Fixed||3, 12, 24 months||
|Green||12, 24 month||
Plan Types In-Depth
Fixed Rate Rlans
With a fixed rate plan, the price you pay for your electricity (in ¢/kWh) stays the same throughout the whole period of the contract. Customers on a fixed contract should, however, keep track of when their contract ends, as many retail electric providers will automatically switch them to a variable rate once the contract is finished. Find more information about fixed rates in Texas here.
Some customers have reported that they appreciate savings on fixed rate electricity plans with Source Power and Gas, particularly those who were able to lock in a good rate at the right time of year. As electricity prices per kilowatt-hour fluctuate throughout the year, depending on the time of year you may actually lose money by not being able to take advantage of prices when they are low (this is where time of year becomes a factor in how good of a deal you can get with a fixed price plan). However, because electricity prices tend to increase over time, locking in fixed rates for longer periods may prove advantageous and deliver savings. This is why in general we recommend that customers choose fixed rate contracts of at least one year.
Variable Rate Rlans
Variable rate plans usually offer a low introductory rate, which can then change month-to-month, often based solely on the provider's discretion, but sometimes with guidelines or price caps. The advantages of a variable rate plan are no early termination fees, and that when market rates are low, the provider may pass savings along to you (or the plan may be indexed to the market rate), however the price per kWh can rise drastically with market fluctuation, or at the provider's discretion.
In general, we do not recommend that consumers sign up for variable rate plans because of this potential for their bills to rise dramatically. Most consumer complaints against providers result from dissatisfaction with bills on variable rate plans.
Unde pre-paid plans, consumers purchase a fixed dollar amount of kWh at their discretion. Usually pre-paid plans result in a higher price per kWh, but they require no deposit or security check, and so may be the best choice for some consumers. Upon depletion of the available kWh in your account, your electricity will shut off.
Pre-paid plans can often be the source of customer complaints, because it might be difficult to track your usage, and because the price per kWh can vary from month to month.
Source Power and gas does not offer pre-paid plans.
Source Power and Gas charges a monthly fee of $14.95 when usage is under 1000 kWh. While this practice is standard, the fee charged by Source is above the average monthly minimum fees charged by competitors.
Green Energy Plans
Green Energy plans promise electricity purchased from renewable energy production, or equivalent offsets. Source Power and Gas offers 100% renewable enectricity plans. If you are interested in purchasing green energy in Texas, we recommend you check out some of our articles on green energy in Texas.
We rate Source Power and Gas for customer experience. Many customer complaints are related to problems related to prepaid plans, though some customers also reported negative experiences with customer service. Source Power and Gas has been rated A by the Better Business Bureau.
Contact First Choice Power
General Customer Service
Hours of Operation: Monday - Saturday, 8:00 am - 7:00 pm CT
24 Hour Payment Hotline: 1-866-418-2417