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TruSmart Energy Offering New Time-Based, Usage-Based Products in Texas
TruSmart Energy has recently begun offering several new electric products in Texas with either time-variant or usage-variant pricing.
Simple Time of Use Product The name refers to a 60% discount off the TruSmart peak pricing rate during the 16-hour non-peak period.
Specifically, the summer non-peak period (March through November) is 6:00 p.m. to 10:00 a.m. The winter non-peak period is 10:00 a.m. to 2:00 p.m. and 6:00 p.m. to 6:00 a.m. The peak period is all other hours.
In all service areas, TruSmart's Smart Use 60/16 product has an energy charge of 3.3¢/kWh for the non-peak period, and 8.2¢/kWh during the peak period. The pricing for each period is fixed for 12 months.
In the Oncor service area, TruSmart's Smart Use 60/16 product has an average all-in rate of 8.6¢/kWh at 1,000 kWh monthly usage, which assumes 64% of monthly usage occurring during the non-peak period, and 36% during the peak period.
The pricing disclosure also reflects the use of autopay. If the customer does not use autopay, a monthly fee of $11.95 will apply.
A base monthly charge of $9.95 applies if usage is less than 950 kWh. An early termination fee of $250 applies.
Additionally, TruSmart Energy now offers a Half Price Nights and Weekends prepaid product. The product offers an energy charge (excludes TDU charges) of 3.8¢/kWh for usage from 8:00 p.m. to 12:00 p.m. the next day, and all day on the weekends. An energy charge of 7.6¢/kWh applies in all other hours. Additionally, a Daily Base Charge of 39.0¢ per day applies.
Summer Peak Product TruSmart's TruPrice 100 12-Month Indexed product works thusly (pricing for all service areas the same unless otherwise noted):
During all months, except for June, July and August, the average price per kWh each month reflects a Fixed Energy charge (5.4¢ per kWh) multiplied by the customer's kWh usage, a Base Monthly Charge, if applicable, and all existing recurring charges (including TDU delivery charges).
During the months of June, July and August, the average price per kWh each month reflects (i) a Fixed Energy charge (5.4¢ per kWh) multiplied by the customer's kWh usage (except kWh usage during the Critical Hours that is greater than the customer's "Baseline Level"), plus (ii) an Indexed Energy Charge, which is the LMP multiplied by 120%, for kWh usage during the Critical Hours that is greater than the Baseline Level (if any), plus (iii) a Base Monthly Charge, if applicable, plus (iv) all existing recurring charges (including TDU delivery charges).
Critical hours are defined as Monday through Friday from 1:00 p.m. to 8:00 p.m. during the months of June, July, and August.
The Baseline Level is defined as, for any Billing Month, the customer's actual average hourly kWh usage for the same time period during the previous month. If the prior month's actual data is not available, the customer's scaled load profile will be used.
LMP means the 15-minute Real Time Price for the appropriate load zone and time interval as reported by ERCOT
In the Oncor service area, the TruPrice 100 12-Month Indexed product has an average all-in rate, at 1,000 kWh, of 8.9¢/kWh (calculation assumes "average" summer using 2012 LMPs). The pricing disclosure reflects the use of autopay. If the customer does not use autopay, a monthly fee of $11.95 will apply.
The base monthly charge is $12.95 and applies if monthly usage is less than 950 kWh. An early termination fee of $250 applies.
TruSmart also offers a variant of the TruPrice Indexed product that exposes more of the customer's usage to the LMP-plus-adder price, in exchange for a lower fixed energy charge during non-critical hours.
Specifically, under this TruPrice 50 12-Month Indexed product, during the months of June, July and August, the average price per kWh each month reflects (i) a fixed Energy Charge (4.9¢/kWh, for all service areas) multiplied by the customer's kWh usage during non-critical hours, plus (ii) a Fixed Energy Charge (4.9¢/kWh) multiplied by 50% of the customer's Baseline Level during Critical Hours, plus (iii) an Indexed Energy Charge, which is the LMP multiplied by 120%, multiplied by 50% of the customer's Baseline Level during Critical Hours and all kWh usage above the customer's Baseline Level during Critical Hours, plus (iv) a Base Monthly Charge, if applicable, plus (v) all existing recurring charges (including delivery charges).
The Energy Charge is also 4.9¢/kWh for all hours in non-summer months.
All definitions and additional terms for the TruPrice 50 (e.g. monthly charge, termination fee, autopay fee, etc.) are the same as for the TruPrice 100 product.
In the Oncor service area, the TruPrice 50 12-Month Indexed product has an average all-in rate, at 1,000 kWh, of 8.4¢/kWh (calculation assumes "average" summer using 2012 LMPs).
Usage-Based Pricing Products Specifically, TruSmart's "Conserve & Save 950" products apply an energy charge of 3.8¢/kWh to usage from 0 kWh to 950 kWh, and an energy charge of 9.9¢/kWh for those kWh in excess of 950 kWh (applicable in all service areas).
A monthly base charge of $12.95 applies if usage is less than 950 kWh.
The customer may elect to fix these energy charges for 12 or 18 months. An early termination fee of $250 applies.
Additionally, for the kWh up to 950 kWh, 100% of electricity delivered is renewable; for usage above that threshold, the electricity is 9.5% renewable.
In the Oncor service area, both of TruSmart's "Conserve & Save 950" products have an average all-in fixed rate of 7.6¢/kWh at the 1,000 kWh usage level. The pricing disclosure reflects the use of autopay. If the customer does not use autopay, a monthly fee of $11.95 will apply.
TruSmart also offers a "Conserve & Save 500" plan, which applies an energy charge of 4.4¢/kWh to usage from 0 kWh to 450 kWh, and an energy charge of 9.9¢/kWh for those kWh in excess of 450 kWh (applicable in all service areas).
These energy rates are fixed for 12 months. An early termination fee of $250 applies.
A monthly base charge of $7.95 applies if usage is less than 450 kWh.
Additionally, for the kWh up to 950 kWh (per EFL), 100% of electricity delivered is renewable; for usage above that threshold, the electricity is 9.5% renewable.
In the Oncor service area, TruSmart's "Conserve & Save 500" product has an average all-in fixed rate of 11.0¢/kWh at the 1,000 kWh usage level. The pricing disclosure reflects the use of autopay. If the customer does not use autopay, a monthly fee of $11.95 will apply.
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September 10, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
Among other things, TruSmart Energy has supplemented its previously launched Free Sundays product with a new Time of Use product called Smart Use 60/16.
TruSmart Energy has also begun offering a summer peak pricing product that provides the customer with a lower fixed energy rate during non-summer peak hours in exchange for exposure to the LMP, plus an adder, during summer peak hours.
TruSmart has also recently begun offering products with energy charges varying with the amount of usage by the customer.
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