Chandler found this article through our electricity partner and thought it was vital information to share.
There is a lot of misinformation out there about what happened during the recent Texas freeze with power outages and what is happening now.
Misinformation examples include:
(Don’t use automatic payments with your provider, she was on a wholesale pricing plan, those on fixed-pricing don’t need to worry)
(ERCOT controlling power)
While we understand the frustration and confusion, Energy Ogre CEO Jesson Bradshaw who has been in the electricity industry for over 20 years can share his unbiased thoughts, what actually transpired and what consumers need to know.
Below are some answers he has directly addressed for Energy Ogre members and others asking for answers. He is available to your audience either live or online should you like to have a conversation. We have a blog post addressing many of these questions here.
Feel free to use clips from Jesson’s interview here as we have provided unedited footage for your use: https://drive.google.com/file/d/10XQX-Na0GnN8ONRid-71c6njaluAtegh/view?usp=sharing
- Can the fixed rate in my contract be changed by my provider, ERCOT, or the PUCT? Are my bills going to skyrocket because of the storm?
- No, your fixed-rate energy charge cannot be changed during the term of your contract and you should not expect a drastic increase in your bill. The terms of service allow for minor administrative changes in TDSP fees but your energy charge is locked into a fixed price. Energy Ogre enrolls members in fixed-rate plans ONLY. You are not subject to wholesale market prices and your bill will only increase when your usage increases.
- Who or what is to blame for the electric grid failure in Texas?
- Energy Ogre CEO Jesson Bradshaw explains that no one thing or entity, in particular, is to blame for the electric grid failure that left millions of Texans without electricity for hours and/or days. There were several problems, and he asks people consider them all—especially how rare this weather storm was. According to Jesson, the storm broke some records dating back to the 1800s.
- What happens if my provider goes out of business? What is a POLR?
- When a provider is forced to shut its doors, a regulated process enforced by the PUC transfers its customers to a POLR or Provider of Last Resort. Online disinformation has reported that while on a POLR you could pay extraordinarily high prices as high as $9.00/kWh. This is completely FALSE. In the past, POLR rates have been slightly higher but tended to stay around 18c to 20c/kWh. If you are transferred to a POLR you may incur slightly higher charges for a short amount of time, while Energy Ogre works to immediately transfer you to a new provider and put you in the lowest rate available in the market. If you are not an Energy Ogre member, we strongly recommend you look for a new and less expensive provider.
- Should I take my card off of autopay before I get an outrageous bill?
- If you are an Energy Ogre member and are on autopay, you can rest assured that you will not see drastic price increases in your bill since you are in a fixed-rate contract. If you are not an Energy Ogre member and are currently in a variable, index, or wholesale rate, you will want to call your provider to determine what options are available to you. Removing a payment method has the potential to leave someone without power, and unable to get power from a new provider if money is still owed to the former provider! Of course, Energy Ogre members can depend on us to figure this stuff out for them and do most of the work necessary to undo the switch hold.
- My contract expires in March/April/May, how will the freeze affect my new contract rate?
- Currently, rates for March/April/May don't seem materially impacted by this short-term and outlier weather event as the power grid has already returned to normal market operations. If you are an Energy Ogre member, we are confident we will be able to find new or renewal rates that are as market competitive as possible. It is the same adage that we cannot control market prices, but we surely can work to place folks in the lowest ones available. For now, the wholesale market looks to have stabilized, but there we can anticipate investigations/ bankruptcies/ potential rule changes ahead.
About Our Relationship with Energy Ogre:
Energy Ogre uses an advanced algorithm to help people find the lowest electricity cost for only $10/mo. When you sign up through our this link, you get a free month and Energy Ogre donates $2 to supports our community service efforts. Chandler personal uses Energy Ogre to save hundreds on his electric bill.