New Entrant Bulb Launches Statewide In Texas Retail Electric Market, Following Soft Launch
September 24, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Since its soft launch in Texas, more than 5,000 members have switched to Bulb.
In Texas, Bulb offers a single plan, a variable rate with 100% renewable electricity that comes entirely from Texas wind and solar
In the Oncor service area, Bulb's average all-in rate, at 1,000 kWh, is 9.3¢ per kWh, reflecting an energy charge of 5.06¢ per kWh and Oncor delivery charges of $3.42 per month and 3.92¢ per kWh
Bulb provides 60 days’ notice of rate changes
Additionally, on its website Bulb states, "we always freeze our rate from June 1 to August 31."
Bulb said that it, "expects to save the average Texan more than $600 per year on their energy bill."
Bulb lists annual bills based on average usage in the DFW area, compared in September 2020, for the following competitor plans
Green Mountain Pollution Free e-Plus $2,335
TXU Flex Forward $1,835
Reliant Clear Flex $1,730
* Based on data reported on Bulb's website
"Texas is one of the most complex energy markets in the country. Some providers offer as many as 30 different plans. One result of this is that 1 in 5 Texas households switch their energy provider each year. Bulb wants to make energy simple for Texans. Switching to Bulb takes less than two minutes and the company will always pay up to $100 in cancellation fees," Bulb said
"The price Bulb members pay each month reflects the true cost of energy. This means when wholesale energy costs go up, Bulb works hard to limit increases to its members and always provides a 60-day notice. If prices go down, those savings are passed on to Bulb's members. Clear communication with members and education about energy usage also contributes to Bulb's ability to operate efficiently," Bulb said
The company is currently offering a $100 credit to essential workers in Texas who join Bulb. For every essential worker that switches to Bulb, the company also donates $10 to Feeding Texas. As part of its official launch in Texas, Bulb is asking its existing members to help nominate a charity for the company's next giving campaign, which will start in October. This charity (or charities) will receive $2 every time a new member joins.
In the U.K., Bulb provides 100% renewable electricity and 100% carbon neutral gas to more than 1.7 million members