When you choose an electric supplier, your new supplier will notify your electric utility of the change. The electric utility will then contact you by mail to make sure you selected this company to be your electric supplier.
You can shop for an electric supplier at any time, the choice is yours. The effective date of your choice depends on your next meter read date and can take 11 to 40 days.
Remember, you will still call your local electric utility about power outages and repairs.
Electric Generation Supplier Contract Summary
In order to ensure customers are protected when participating in the competitive retail marketplace, the Public Utility Commission (PUC) decided more education is needed regarding the terms of a contract. The PUC directed that electric supplier disclosure statements include a clear and concise summary for consumers.
An electric supplier must now provide, with the disclosure statement, a separate Electric Generation Supplier Contract Summary - which is an easy-to-read, one-page document with the most important terms of the disclosure statement.
The Contract Summary provides pertinent contract terms in easy-to-understand language, allowing for customers to more clearly understand the contract into which they have enrolled. This information is also helpful for customers shopping for a new supplier, allowing them to compare current terms to other suppliers' terms.
Each electric supplier must now give customers an Electric Generation Supplier Contract Summary when they enroll in a new contract, similar to the PUC's sample:
|Electric Generation Supplier Information||
Name, telephone number, website, etc.
|Price Structure||Fixed or variable. If variable, based on what? If variable, how often is the rate expected to vary? If variable, give any applicable ranges/ceilings. If no ranges/ceilings, a plain language statement indicating this fact. If variable, describe when the customer will receive notification of price changes in relation to time of month, final monthly meter read, billing cycle or when the price takes effect.|
|Generation/ Supply Price||$/kWh or ¢/kWh. If variable rate, the first billing cycle’s rate. Any introductory rate with length of term.|
|Statement Regarding Savings||Plain language that the supply price may not always provide savings to the customer.|
|Deposit Requirements||Any deposit requirements necessary for a customer and any terms associated with that deposit, in plain language.|
|Incentives||Any bonuses, discounts, cashback, etc. offers and any associated terms, in plain language.|
|Contract Start Date||Plain language regarding start of EGS service (meter reads/billing cycles/etc.).|
|Contract Term/ Length||In months, billing cycles, etc.|
|Cancellation/ Early Termination Fees||Yes or no. If yes, describe the amount of the fee and how to avoid that fee, if possible.|
|Renewal Terms||Treatment of customer at end of contract. Timing of notices. No cancellation/early termination fees. In plain language.|
|Electric Distribution Company Information||Name, telephone number, website, etc.
Plain language statement that EDC is responsible for distribution charges, as well as any emergencies/ outages/ etc.
Canceling an Agreement with Your Electric Supplier
If you already have an agreement with an electric supplier, and you want to switch to a different supplier, carefully review your contract’s disclosure statement to see if there are any penalty/switching fees or cancellation fees. Call your current supplier if you are not sure.
If you choose to return to your electric utility, the electric utility will not charge you a fee to do so.