We have had great news this week for cheap energy rates in Texas. If you will recall in my June 22,2008 post I explained why the price of Texas electricity was increasing at such a rapid rate.

Just a short memory jogger, over fifty percent of our electricity generation in Texas is created by natural gas and coal. So logically as the expense for these commodities increase so does our electricity cost.

Well I have some very great news for all my Texas friends! In early July 2008 we saw natural gas prices hit an all time high of over $13.50 per mmbtu. Get out the party horns and confetti! On Friday July 18, 2008 natural gas closed at $10.57 per mmbtu, a 21.7 percent decrease. This is a very good occurrence for all of the consumers of electricity and natural gas in Texas!

With this price reduction we should soon see some relief in the price of electricity and hopefully begin to see a return of relatively cheap energy in Texas. I think it is going to take some time to se cheap Texas electricity in the next few months but if this trend continues it is positive for Texas energy consumers.

Our electric rates are still some of the cheapest in Texas so if you are looking for a way to lower your electric bill today please visit this section of our web page supercheapenergy.com and sign up to lower your electric bill today!

I hope that next weeks report is as positive as this week. I suspect that we may not see as dramatic a decrease but I think prices are starting to come down to a realistic level for Texas electricity.