Acacia Energy is an electricity company that is based out of Texas with more than 30 years of combined experience in providing pay-as-you-go electricity. Acacia Energy strives to make it easy for customers to switch. There is no credit check, long-term contracts, and no deposit. Customers can get their power turned on right away with Same Day and Priority Service that is available, with some exclusions.
- No Deposit
- Contract Terms
- Monthly Customer Fees
Acacia Energy is a company to look out for. They are pulling out all the stops to make a good impression to customers in the deregulated energy industry. One of the most enticing things is that Acacia does not require a deposit when signing up with the service. Deposits are commonly found with other companies and many times they can be up to $300. This is a huge savings for customers!
Many customers prefer not to be tied down into long-term contracts. Acacia offer month-to-month contracts along with a 12-month contract for those customers who like to have a fixed rate for a longer period of time.
Monthly Customer Fees
A common fee for deregulated companies is a monthly service fee on top of the typical rates. It's hard to come across companies who don't charge this fee, but Acacia's $4.95/month fee is both reasonable and affordable. Other companies will sometimes charge more than $10 each month. Since this is an added monthly cost that you can't get around, customers can justify paying less than $5 more for a quality and reliable deregulated energy company.
- Miscellaneous Charges
- Payment Options
Acacia Energy does not disclose whether or not they offer natural gas. Many companies do not, as well, but we have found that companies who do disclose the information and offer this option then they will attract more customers as they have more options available. Acacia doesn't have the most competitive electricity rates even though they do well in many other areas. Their fixed rate is 9.1¢/kWh and their variable rate is 11.8¢/kWh. Both rates fall in line with many other companies, including lower-ranked ones. If Acacia had a little better rates than they could become one of the best.
Deregulated companies are full of extra charges including the monthly service fee as mentioned above. However, along with the electricity Rates, Acacia doesn't have much of an edge with the other companies when it comes to the other miscellaneous charges. Their termination fee is $150, the minimum usage charge is $15, and the late payment is five percent of the year contract. Both the termination fee and late payment fee are very common numbers to find among others, but that doesn't necessarily mean it's a good deal. Five percent with one company can be more expensive with one company than another because it is based off of a year's worth of monthly rates. This can add up quickly if the companies monthly rates are higher.
What is not good about Acacia is their minimum usage fee. Their price is 50¢ per day but when you add that up over a month is comes out to be $15 a month. This is one of the more expensive minimum fees we have seen in the industry. On the other hand, if you spending at least $15 each month in electricity then the fee isn't going to apply. Other companies don't typically exceed more than $10 each month for this fee.
Customer like a lot of payment options, that way they can choose and change their payment preferences if they need to. We look at four specific types of payments: credit/debit cards, ACH electronic checks, bank accounts, and hand-written checks. Acacia only has cards and checks available for payments. ACH forms and bank accounts are becoming popular forms of payments as it can be more convenient and beneficial for customers. This is another area where Acacia could improve.
The Bottom Line
Even though Acacia Energy might not be the top-ranked deregulated energy coming, they are most definitely a leading competitor. Their no deposit and monthly payments are great perks and benefits for potential customers. If Acacia improved in their electricity rates and miscellaneous charges then they will be one of the best. We would recommend Acacia for anyone who resides in Texas, but it never hurts to continue to review other companies in the area as well as they might be able to service your specific needs even better.