How to think about your energy plan in uncertain times

Recent events have led to economic impacts none of us could have anticipated at the beginning of the year. More than ever, many businesses are seeking ways to reduce costs and gain greater budget certainty. Making changes to your electricity plan could help.

Energy prices, by nature, are unpredictable, and the long-term influence of disruptive events is not always clear.

The societal disruption we’ve all felt serves as a bracing reminder that risk tolerance can change over time. It is important for businesses to adjust accordingly.

For example, if you are currently enrolled in a market-driven energy plan, and are unable to manage and mitigate the risk as much as before, you might consider reducing volatility and ensuring price stability with a fixed price energy plan. Instead of exposing your business to uncertainty, you can rely on a predetermined price per kilowatt-hour for electricity, a price that remains constant throughout the contract term — anywhere from three months to ten years.

Locking in a fixed rate now allows you to forecast energy costs and manage your overall budget more effectively without constantly monitoring an ever-changing energy market. Free from that task, you can focus more closely on your core business.

Having the right energy plan represents half the equation for success; the other half involves finding the right energy partner, one with knowledge and dedication. NRG is well-versed in serving the needs of Texas businesses in a range of scenarios, offering: 

• Energy experts who work with you to adapt your electricity rate plan to the possibility of higher electricity prices, with less exposure to market price volatility
• The benefit of an assigned account representative and support from a behind-the-scenes team
• A customized solution that enables you to reduce costs and spend money where it matters most
• A highly trained account management team that oversees all of your billing and operational needs — providing information about various invoice delivery options and enrolling you in a preferred payment method
• An online account management tool that puts a powerful resource at your fingertips — to pay electricity bills, track energy usage, reconcile invoices, and access market data

The one certain thing is change and the opportunity it presents to those who embrace it. While your business may benefit now from an extension of fixed-priced products, you may find the timing is right later for more market-based structures. The right energy team can help you readjust your plan as your needs evolve.

If you would like more information about COVID-19 and ERCOT pricing and load trends — and how to navigate during turbulent times — get expert information in a special energy market webinar: 

Navigating Energy Planning in a COVID-19 Economy: ERCOT

For reassuring perspective and proactive steps for moving ahead, know that NRG is here as an experienced energy partner to see you to the other side.