The wholesale electricity market is where retail electricity providers get the electricity that they then sell to their customers. Prices are low when demand is low, and trend higher when demand is high. Retail electricity companies first buy electricity on the wholesale market, and then markup the price when they re-sell the electricity as a fixed price plan to customers.
Gexa Energy offers a monthly membership that gives you access to the wholesale electricity market, allowing you to buy electricity like the big retail companies, but only as much as you need to use each day!
Real-time prices on the wholesale market are updated every 5 minutes and can be forecast up to 36 hours in the future. The actual price can change based on changes in supply and demand on the power grid. While it doesn’t perfectly predict future wholesale pricing, the historical average wholesale price has been lower than the average price of power in Texas for years.
Energy Optimizer is a smart technology service that helps manage your energy usage through a smart thermostat, provided by Gexa Energy. Gexa Energy will recommend optimization settings personalized for your home, which you can see and manage in the Gexa app. If there is a price spike, we’ll send a signal to adjust your thermostat, based on your settings, helping you maximize your savings. When the price of power goes down, we’ll send another signal to your thermostat, keeping your home comfortable at the right price.
Price spikes can occur either when demand goes up on the electricity grid, or when there is less supply on the power grid to meet normal demand. Prices can also fall when there is more supply than demand, and have even been negative when power was generated than customers needed!
Simply visit our plans page and choose the one that’s right for you! Signing up online is simple and takes only a few minutes. If you choose a plan with the Energy Optimizer service, you’ll receive your thermostat within 2 weeks of your electricity service start date.
Not at all. There are no contracts with Energy Optimizer. You are free to cancel your wholesale electricity plan at any time without paying a penalty. If you receive a smart thermostat, you may be assessed a device cost recovery fee. See the terms and conditions of your plan.
There are no initial or one-time fees with Energy Optimizer. There is a flat monthly Membership fee, and a monthly Energy Optimizer fee depending on the plan you select. Your bill will also include delivery charges from your local utility, as well ancillary charges from ERCOT and sales tax.
The Gexa Energy app gives you important Information about wholesale pricing power, and allows you to view your electricity usage and your monthly bill. The app also includes your Energy Optimizer settings, and is needed for connecting the thermostat to the service. You’ll also need the Emerson Sensi app to register the device once it’s installed.
You do not need to use a smart thermostat to get access to the wholesale prices, but you do need the smart thermostat provided by Gexa Energy to enjoy the full benefit of the Energy Optimizer service. Learn More about the Emerson Sensi smart thermostat provided by Gexa Energy.
At this time, if you choose one of two plans that include the Energy Optimizer service, you will have to use the smart thermostat specifically provided by Gexa Energy.
You will receive a bill at the end of each billing cycle. Gexa will communicate with the wholesale market and your local utility company to calculate your usage and rate for each interval of the day. In the Gexa app, you can see how much you used and how much you were billed for each hour of the day!