Depending on who you ask, living in Texas can have a number of perks. One of the most popular benefits to living in the Lone Star state is that residents have the choice of electricity providers, meaning they have the potential to save significant amounts of money.

TXU Energy, one of the leading electricity providers in Texas, advises customers to shop around, especially if they are new to the region.

When shopping around, the company suggests that residents consider how much electricity they use and how much that energy costs by month, day and hour. With this information, they will be better prepared to compare offerings from other companies. Electricity can now be included in budgeting like food costs and other necessities.

According to TXU Energy, which serves approximately 2 million electricity customers, a 1999 Texas law allowed for electric-provider competition in the state. By 2002, many designated areas in the state were open to competition.

The Houston Chronicle argues, however, that the deregulated market has caused some problems for energy providers as they try to switch from coal-fired to natural gas energy, a growing profitability engine thanks to increases in shale gas discoveries.