The Provider of Last Resort serves as the “back-up” provider when a Retail Electric Provider leaves the market for any reason. If this happens, customers may switch back to the Affiliate Retail Electric Provider or choose another competitive Retail Electric Provider offering electric service in their area.
A unit of energy equivalent to one kilowatt (kW) or 1000 watts of power expended for one hour of time. The amount of electricity you use each billing period is expressed in terms of a kilowatt-hour, and is noted on your bill.
Letter of Authorization
This is a form that, per its context, allows the authorized entity to act on the signers behalf for some agreed upon function. In regards to Current, we collect a LOA also called the Current Terms of Service, which allows Current to act on the customers behalf to place them with a REP and move them from one to REP another REP as needed in order to safeguard the customers interests.
The production of electricity. In Texas, electricity is produced by a number of methods, including natural gas, coal, nuclear power, wind, water and solar energy.
A price per KWh that is contracted in for the term of the contract entered. Some REP’s have a clause in their contract that legally allows the price per KWh to be raised if that clause is executed.
The Electric Reliability Council of Texas formed in 1970, is one of eight Independent System Operators in North America, and is the successor to the Texas Interconnected System (TIS). TIS originally formed in 1941 when several power companies banded together to provide their excess generation capacity to serve industrial loads on the Gulf Coast supporting the US war effort for World War II. ERCOT is one of nine regional electric reliability councils under North American Electric Reliability Corporation (NERC) authority. NERC and the regional reliability councils were formed following the Northeast Blackout of 1965. ERCOT’s offices are located in Austin and Taylor, Texas.
The corporation that administers and maintains the reliability of the state’s electrical power grid. When you choose a new Retail Electric Provider, this group will send you a postcard confirming your switch from one Retail Electric Provider to another.
Electricity Facts Label
An information sheet required by the PUC that provides customers with standardized information on a Retail Electric Provider’s prices, contracts, sources of power generation and emissions. It allows customers to make an “apples-to-apples” comparison of Retail Electric Provider offers. This is normally given in 500KWh, 1000KWh and 2000KWh figures.
Removal or relaxation of regulations or controls governing a business or service operation like utilities.
Adding charges to a bill without a customer’s approval. This practice is illegal and penalties are enforced by the PUC
Affiliated Retail Electric Provider
The Affiliate Retail Electric Provider was part of the original electric company that generated and sold electricity in your area. Now, the Affiliate Retail Electric Provider only sells electricity and provides customer service. It does not operate or maintain distribution and transmission wires.