Bulb Texas Customers Protected From Price Shocks, Seeking Wholesale Pricing Relief At Texas PUC

March 4, 2021

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Reporting by Paul Ring • ring@energychoicematters.com

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The following is a news release from Bulb. EnergyChoiceMatters.com disclaims any responsibility for the content or data contained in the news release. Any views expressed in the release may not necessarily reflect the view of EnergyChoiceMatters.com

Bulb Protects Customers From Price Shocks and Petitions for a Better Energy System for Texans

• Bulb files petition to the Public Utility Commission in Texas (PUCT) urging them to address the ancillary charges energy suppliers are facing and writes to Governor Greg Abbott, urging him to take immediate action

• Bulb customers stay protected due to single plan which is prepurchased in advance, protecting them from price shocks

March 04, 2021

AUSTIN, Texas -- Energy company Bulb has today committed to further protections for its customers who are all on a single plan. Bulb always prepurchases its energy a month in advance, so rates didn’t increase in February as those prices had been set in January. Now the company confirms rates will also be fixed for March and April, locking in fair prices that protect customers from price shocks.

Bulb has also filed a petition to the Public Utility Commission in Texas (PUCT) urging them to address the ancillary charges energy suppliers are facing and written to Governor Greg Abbott, calling on him to take immediate action. While the Commission has adopted some changes to ancillary services, it clearly hasn’t gone far enough and there are still more changes that need to be made urgently.

While many Texans are suffering and facing crippling energy bills, it seems to be the energy generators who failed these customers who are reaping the rewards. During the storm, over 52 gigawatts of Texas’s 108 GW of installed capacity were offline at the worst point. Generators across the state were affected. Gas-fired plants shut off due to freezing conditions, causing a surge in overestimated ancillary charges. This has led to generators making absurd profits, reported up to $50 billion in one week, and to a transfer of wealth from hard-working Texans to large corporate generators.

Bulb is standing up for Texans because it believes providers shouldn’t pay these exorbitant ancillary charges to generators, much of which will end up coming out of the pockets of Texans. And while Bulb won’t pass on costs from the storm to its customers, these charges could have a negative effect on many other Texans across the state, some of whom are already facing soaring energy bills.

During the storm, Bulb protected members from price spikes and took immediate actions to reduce the demand on the Texas power grid. Unlike other companies, it kept its members’ rates locked through February and even offered to pay its members $2 for every kilowatt-hour of energy they saved on Monday, February 15, compared to Sunday, February 14, up to $200.

Vinnie Campo, General Manager, Bulb US said, "Our priority throughout the storm has been our customers. It’s not right to ask providers to pay exorbitant ancillary charges to generators knowing that Texas consumers will end up paying much of the cost. And while Bulb won’t pass on costs from the storm to our customers, these charges could have a negative effect on many other Texans across the state, some of whom are already facing soaring energy bills."

About Bulb

Bulb is a new type of energy company that aims to make energy simpler, cheaper and greener. Bulb provides 100% renewable electricity to its members from 100% Texas wind and solar and is a certified B Corp. The company has no annual contracts or cancellation fees, and currently supplies energy to over 1.7 million homes and businesses worldwide. Bulb has also been ranked number one in the top 1000 fastest growing companies in Europe.

On average, Bulb members save $542 a year on their energy compared to other major providers. Information for those interested in switching to Bulb may be found at https://bulb.com/.

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