Know the lingo when it comes to kilowatt-per-hour rates and minimum contract term lengths.
Contract Renewal Notice
You will receive two renewal notices before your contract expires - one 45-60 days prior and the other 30 days prior. The second notice, known as the option notice, includes:
- Specific changes to the terms being proposed.
- Information on new prices.
- An explanation of the customer’s options and how to take action.
- The date by which action must be taken by the customer.
- The telephone numbers and website addresses for the Commission and the Office of Consumer Advocate (OCA).
Make sure you read these notices, as they will assist you in making the decision to stay with your current supplier or shop for another supplier.
IMPORTANT: If you choose to take no action with your renewal and options notices, your rate may change. For example, a fixed rate may change to a monthly variable rate. If you have a variable rate, once the term expires, you may be moved to a different variable rate that could be higher.
Frequently Asked Questions
What if my current contract has an early cancellation fee?
Check your disclosure or contract summary to see if there is an early cancellation fee. You can also contact your current supplier and ask – their phone number is on your bill. If you do have an early cancellation fee, you can still switch suppliers, but if you do this before the end of your contract you may have to pay the early cancellation fee (early cancellation fees do not apply in the last 30 days of your contract – so you are free to shop during this time).
Can I switch my generation service from a competitive supplier back to my electric utility?
Yes, you just have to contact your electric utility and request to return to your default service. You should review your agreement with your current supplier to see if there are penalties for early cancellation if you wish to do this in the middle of your current contract. If you are not sure, call your current supplier.
How will I receive my two contract renewal notice?
You will receive your first notice depending upon how you agreed to receive notices from your supplier – check your disclosure or call your supplier if you have questions about this. You will receive your second notice in writing by U.S. postal mail.
What happens if I do not respond to the options notice?
It is important that you respond to your notices and take action. If you do not respond to your contract expiration notices, your supplier can continue to provide you with service – but it may be at different terms and prices. Your notices will explain these new terms and prices.
Will I be notified of price changes if I am on a variable rate?
If your contract with your supplier expires and you do not respond to your expiration notices, your supplier can continue to serve you – but your terms and price may change. The supplier may even place you on a variable rate – but if they do, they must then provide you with advance notice of any future price changes.