New Texas Retail Provider Launches, Emphasizes Transparency In Its Marketing
New Texas Retail Provider Says It Will Shows Customers Exact Margin Charged To Customers February 6, 2023 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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BKV Energy has updated its website to state, "We’re committed to providing honest electricity at competitive rates. We aim for stable, fair margins and sharing the surplus with our customers. How’s that for a good deal?"
"Our goal is to develop a value proposition in which our customers can enjoy the benefits of potential margin surplus, and we are using these consumer insights to refine the process of how we can meet this goal," said BKV Energy Vice President, Retail Power Javier Hinojosa. "At BKV Energy, we believe it is our responsibility to help customers understand how our business works, how we make money and even how we end up losing money from time to time. We have some exciting things planned for the future."
BKV Energy's website no longer includes language stating, "We’ll show you the cost and even the exact margin we charge you to keep the lights on."
BKV Energy has launched retail electricity service in Texas
As exclusively first reported by EnergyChoiceMatters.com, BKV Energy is ultimately a unit of BKV Corporation and BanpuPower US Corporation, a subsidiary of Banpu Power Public Company Limited, an energy conglomerate based in Thailand whose operations include generation ownership and retail supply in various Asia-Pacific markets
Promoting its emphasis on transparency, BKV Energy states on its website, "When was the last time an energy company told you how much electricity cost to produce? We’ll show you the cost and even the exact margin we charge you to keep the lights on."
It was not immediately clear how BKV would communicate to customers its margin charged to them.
At this time, BKV Energy is offering residential customers fixed rates of 12, 24, and 36 months, including 100% renewable options
In the Oncor service area, BKV Energy is offering a 12-month fixed rate at an average all-in rate, at 1,000 kWh, of 13.6 cents per kWh. This reflects a base charge of $10 per month, an Energy Charge of 7.8842¢ per kWh and Delivery Charges of 4.4076¢ per kWh and $3.42 per month. An early termination fee of $20 per remaining month applies
An FAQ also suggests that BKV Energy will leverage its affiliation with a BKV unit engaged in carbon capture, utilization and sequestration in order to promote and offer carbon neutral energy
BKV Energy is also affiliated with the Temple 1 Power Plant in ERCOT