Texas Customers Warned to Know Expiration Date for Fixed-Price Contracts
Texas electric customers are being urged to be vigilant when it comes to watching their bills and contract, to make sure they aren’t rolled over onto a higher variable rate at the end of a term contract, or get subjected to large monthly swings in their variable rate without notice. Horror stories include rates jumping from 12¢ to 19 ¢, and bills spiking from $98 to $360 . The problems are one of the many reasons it pays to shop for electricity with an expert like SaveOnEnergy.com , who can not only find you a cheap electricity rate , but help you determine when your contract expires, and ensure a smooth transition onto a new, low fixed rate without any nasty surprises. As previously noted, the Texas Public Utility Commission is working to change the market rules so that customers receive standard notices about their contract expirations,
New Product Names Coming to Texas Electric Market
The landscape of the Texas electric market will soon be changing for residential and small business customers, as the Public Utility Commission is a step closer to finalizing sweeping rules changes meant to add to consumer information and protection. During a PUC meeting last week, the Commission put the finishing touches on revising rules that set requirements for retail electric providers to disclose pricing and other important information to customers; how they label their products; and what notice customers are given when their product is about to expire. The biggest change that will be readily apparent to consumers is a new, PUC-determined separation of products. Currently, customers can choose from a wide variety of fixed-price products and variable-priced products, with a host of “hybrid” products in between, combining elements of both basic types. In order to standardize the definitions of each product type, and
Continued Fall in Oil Prices Provide More Time to Find Cheaper Texas Electric Rates
Continued negative economic data is pushing energy prices down further, giving Texas businesses more opportunities to lock in a cheaper electric rate through SaveOnEnergy.com . Even though OPEC is racing to cut production again, it doesn’t appear the cuts will prevent oil from sliding to $50/barrel, as sharply lower retail sales have spooked the market and cast serious doubts on economic growth, and demand for energy. The U.S. Commerce Department said Friday that retail sales fell by a record 2.8% last month, surpassing the old mark of a 2.65% drop set in November 2001 in the wake of the September 11 th terrorist attacks. The news prompted OPEC to schedule a second emergency meeting in as many months to shore up prices, but the previous production cut failed to stop oil’s slide, and prices have fallen another 8% since the meeting. It’s
Texas Regulators Acting to Make Emergency Electric Service Cheaper
The Public Utility Commission of Texas (PUC) is moving forward with reforms meant to prevent electric customers from paying the highest rate for power if their energy provider goes out of business and customers are forced onto emergency service. Last week, the PUC approved a draft to revamp what is currently known as “Provider of Last Resort” service, or POLR service. POLR service is where customers end up if their chosen electric company goes bankrupt or leaves the market. Under the current rules, the POLR rate is set at a variable price tied to the wholesale energy market, plus a 20% mark-up to cover the risk electric companies serving as Providers of Last Resort take on. However, that means the POLR rate is the highest in the market, and extremely volatile. Some 40,000 Texans were hit with extremely high POLR prices never seen
Thousands of Texas Businesses Save Money on Electricity with SaveOnEnergy.com
One-year ago, Dallas-based SaveOnEnergy.com revolutionized the way Texas businesses shop for electricity, giving them the ability to conveniently leverage the power of competition to get the lowest electric rate . It’s been a resounding success for businesses, with over 3,000 using SaveOnEnergy.com’s exchange portal to save on their electricity bills. Only SaveOnEnergy.com’s exclusive commercial retail exchange portal gives Texas businesses of all sizes the opportunity to receive direct competitive bids for their electricity service from several competing energy providers . “ SaveOnEnergy.com’s service took the stress out of finding an electric provider for my new business,” said Metroplex-based small business owner, Susan Dequeant of Special Occasion Chocolates who used the exchange this August to lock in a 24-month fixed rate for her business. SaveOnEnergy.com’s industry-changing exchange portal lets energy companies compete head-to-head for the customer’s business, and makes it simple and fast for
Texas PUC Waives Electric Deposits, Suspends Disconnections for Customers Affected By Ike
The Texas Public Utility Commission (PUC) has acted to help electric customers affected by Hurricane Ike who may have trouble receiving and paying their bills due to the storm’s devastation. In an order issued last week , the PUC suspended certain market rules regarding customer deposits and disconnection of electric service . For customers impacted by Ike (meeting a certain criteria discussed below), electric companies cannot charge deposits for customers to establish service, or deny service based on not receiving a deposit from such customers. The rule gives customers displaced by Ike a chance to set up new electric service at their new location without having to post an additional security deposit. Electric companies are also prohibited from disconnecting electric service to customers impacted by Ike. The deposit and disconnection waivers run through October 10, but the PUC will re-examine them at a meeting on October 8 and may decide