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New Power Power of Credit 24
New Power Texas Power of Credit 24 is one of numerous bill credit plans offered by New Power Texas.
Bill credit plans can be an excellent option for your home, but you need to shop with your home’s actual usage to ensure they are the right fit.
We did a deep dive into the details of New Power Texas Power of Credit 24 and have some tips to help you make an informed energy decision for your household.
Is New Power Texas Power of Credit 24 right for me?
Bill credit plans can be great if you understand your monthly electricity usage and shop with a full year of historical usage.
With electricity prices at all-time highs, New Power Texas Power of Credit 24 could save you money on your monthly electricity bills if you can take advantage of the bill credits.
If you know that you use at least 1000 kilowatt-hours (kWh) of electricity each month, this plan will help you cut your electricity costs.
Important: New Power Texas includes the $95 bill credit in the advertised rate for 1000 kWh usage with this plan. You MUST use at least 1000 kWh to get the bill credit, and the rate you pay for electricity will change alongside your usage.
If you don’t have a firm grasp on your usage and don’t use at least 1000 kWh each month, New Power Texas Power of Credit 24 could cost you significantly more throughout the year.
Bill credits could be a game changer for you, but you need to shop with your home’s actual electricity usage to make sure you pick the right plan for your home.
Before buying into the advertising hype, input your electricity usage here on ComparePower, and we’ll show you a detailed pricing breakdown for every plan.
Compare New Power Texas Power of Credit 24 pricing with fixed-rate plans so you know which plan will help you to save the most on electricity throughout the year.
The #1 most important thing to know is your home's energy usage. This 2-minute video explains why shopping with your usage is so important ⤵️
Quickly determine if New Power Texas Power of Credit 24 is right for your home with your kilowatt-hour usage👇🏽
Note: The easiest way to get 12 months of usage history is to log into your provider dashboard. You can also create an account with Smart Meter Texas, where you can get usage readings for your home in 15-minute intervals.
What is New Power Texas Power of Credit 24?
New Power Texas Power of Credit 24 is also a bill credit plan. With bill credit plans, you get a discount on your electricity bill when you hit a certain usage threshold.
These discounts can stack up to actual savings only if you know you will hit the minimum usage required to get the monthly discount.
With Power of Credit 24, New Power offers a $95 discount on your electricity bill when you use at least 1000 kWh during a billing cycle.
If you know that you always hit that usage each month, you will get the bill credit throughout the year.
How does New Power Texas Power of Credit 24 work?
New Power Texas Power of Credit 24 is a bill credit plan, meaning you get a $95 discount on your electricity each month that you use at least 1000 kWh.
It was created to give you discounts on your monthly electricity bill and help keep your electricity bills in control throughout the year.
Bill credit discount
Each month you hit 1000 kWh usage, New Power discounts your electricity bill by $95.
Important: New Power includes the $95 bill credit discount in the advertised rate. The rate you pay for electricity will only be the advertised rate if you use precisely 1000 kWh.
Regardless of the bill credit discount, you will still be charged Transmission and Distribution (TDU) base and energy charges.
How much does New Power Texas Power of Credit 24 cost?
At the time of writing, New Power listed Power of Credit 24 at 17.6 cents per kWh at 1000 kWh monthly usage in the Oncor service area, which includes the Dallas-Fort Worth metroplex.
Important: New Power includes the bill credit discount in the advertised price for the Oncor area. You will only get the advertised rate if you use EXACTLY 1000 kWh each month.
No one uses exactly 1000 kWh every month, and your usage will vary, affecting the rate you pay.
If you are considering signing up for New Power Texas Power of Credit 24, make sure you shop with your home’s actual usage to see if you will benefit from the bill credit discount.
Are you similar to the average Texan? According to eia.gov, the average Texan pays 13.15 cents per kWh for electricity.
With average usage of 1,132 kWh per month, the average Texas electricity bill would be right around $148.90 each month.
With the weather in Texas swinging each season, your usage and electricity bill can change as quickly as the weather.
Remember that these average numbers are taken from statewide data and that your usage could be drastically different based on the size and age of your home, your appliances, and your electricity usage habits.
Power of Credit 24
Compared to the Texas average from last year, New Power Texas Power of Credit 24 is more expensive at 15.7 cents per kWh at 1000 kWh usage.
At 1,132 kWh usage, you would be looking at an electricity bill for $190.37 on the Power of Credit 24 plan.
That’s 27.85% more expensive than the average Texan paid on electricity bills last year.
Your electricity rate will vary any month you use more or less than 1000 kWh. That means that your bill could be significantly more expensive than the Texas average during months you aren’t hitting the usage threshold for the bill credit.
You’ll find a TDU delivery charge alongside your energy charge on your bill.
The TDU charge depends on which company services the area that you live in. The TDU charge for the Oncor area, covering the Dallas-Fort Worth metropolitan area, is currently 4.4 cents per kWh. Oncor also collects a base charge of $3.42 each month.
New Power Texas Power of Credit 24 also has an early termination fee of $125, and you can upgrade to green energy for an additional fee each month.
Before signing up, make sure you shop with your home’s unique usage profile to avoid high bills and the need to end your contract early.
Digging into the Terms of Service, New Power Texas lists additional fees for disconnections, returned payments, and priority when moving in.
If you are concerned about disconnections or returned payments, you might consider a different electricity plan to avoid these fees.
New Power Texas Power of Credit 24 alternatives
Are bill credit plans worth it?
You might wonder if there is any catch with New Power Texas Power of Credit 24.
While New Power Texas does give you the $95 bill credit whenever you use at least 1000 kWh, you’ll only get the advertised rate if you use EXACTLY 1000 kWh during the month.
Any time you use more or less than 1000 kWh, you’ll pay a different rate; your usage can vary drastically throughout the year.
One month you could get the discount and the following month you could end up with an electricity bill almost double what you expect.
Bill credit plans can save you serious money throughout the year, but you need to shop with your home’s actual usage to ensure you will get the discount.
If you aren’t confident that you have a firm handle on your electricity usage, we recommend picking a 12-month fixed-rate contract to avoid the headache of unexpectedly high bills.