New Texas Retail Provider Says Its Plan Is $400 Cheaper Annually Versus, "Default Plans Of The Largest Suppliers"
Will Pay Termination Fees For Customers Leaving Their REP To Enroll, Up To $100
December 6, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Bulb said in a post on Medium that, "with our summer price lock, we’ll freeze our rate over the summer when energy prices tend to increase. More on that next week."
A posting from a Bulb representative on Bulb's community site states that, "What makes our plan different? Well, we only have one. It’s variable and all of our members are on it. We follow the wholesale price of energy and hedge out the spikes, so there’s no nasty surprises during the summer. If wholesale costs increase significantly, we’ll give you two months notice before we increase our rate."
Such posting further states, "We want our members to know that they’re always getting the best price we can offer. You shouldn’t have to worry about whether or not your provider is waiting for you to 'fall asleep' and get rolled onto a more expensive plan."
Bulb is now supplying electricity to homes in Texas, starting with service to friends and family in November
Bulb will conduct a soft launch in the Corpus Christi area in December 2019, with a statewide launch for all Texans in deregulated electricity areas in the first half of 2020.
Bulb has no annual contracts and no cancellation fees.
The company will also pay for cancellation fees charged by the customer's previous retail suppliers, up to $100.
"In Texas, Bulb members could save $400 per year. These savings can be achieved because the company invests in advanced, scalable technology to help keep their costs low," the company said
Bulb said that, "Bulb’s plan is $400 cheaper per year for the average Texan home, compared to the default plans of the largest suppliers."
Bulb's comparisons of average annual savings were based on usage of 15,000 kWh per year, which Bulb said is the average annual residential consumption in Texas.
Bulb said that the comparisons for the TXU, Direct Energy, and Reliant rates "are for their default plans," and that, "The rates are from the Electricity Facts Label on their sites."
As an example, for the Dallas area, Bulb said that the annual bill for the cited Reliant plan was $1,958; the annual bill for the cited Direct plan was $1,862; and the annual bill for the cited TXU plan was $1,697, while the Bulb plan would be $1,413 annually. The average difference between Bulb and the cited three plans is $426 per year
For the cited plans (Dallas area), Bulb said that the TXU plan had an energy charge of 6.4 cents per kWh and base charge of $9.95; the Reliant plan had an energy charge of 8.93 cents per kWh and no base charge; the Direct plan had an energy charge 7.90 cents per kWh and base charge of $4.95; and the Bulb plan had an energy charge of 5.30 cents per kWh and no base charge
Bulb serves more than 1.5 million members in the U.K.