What is the Difference Between a Variable and Fixed Electricity Plan?

The implementation of energy deregulation in several states such as Texas not only provided the people the power to select their Retail Electric Provider or the Texas electric company that services and facilitates their supply of electricity, but it also provided them the option to choose their preferred choice of electricity plans. Consumers living in areas with a deregulated electric market can select between a variable and a fixed rate plan.

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What is the Difference Between a Variable and Fixed Electricity Plan?