If you are an LP&L customer you must pick a new provider by February 15, 2024
Here's what to do now.
Know your deadlines - February 15th
The deadline for LP&L customers to choose a provider is February 15th. After this date, if you haven’t made a selection, LP&L will automatically assign a provider to you. We strongly advise against allowing this automatic assignment, as it may result in less favorable terms.
Like shopping for cell phones or internet services, you can now compare electricity plans. This retail electric competition allows you to evaluate options based on pricing, fuel resources, and contract terms. Numerous providers across the state are ready to offer their services, with LP&L maintaining the electric infrastructure.
Default providers are TXU, Reliant and Octopus.
Coldwell Banker and TXU
Coldwell Banker has opted for TXU Energy as our electricity provider for vacant properties and those where electricity costs are billed back to tenants.
We have been impressed with TXU Energy’s rates and services. Through our partnership with other management companies, we hope to secure better rates for our residents with TXU. While specific rates for individual tenants cannot be guaranteed, we believe TXU’s offerings are advantageous.
To sign up with TXU Energy, please visit txu.com/RENT for plans tailored to renters’ needs.
New Move-ins
If your are moving in between February 15th and March 15th you will need to set up service with your permanent provider (TXU, Reliant, Champion etc.) call LP&L to establish service for an interim period. If you do not call and establish a permanent provider LP&L will automatically pick a provider for you.
things to consider
As we undergo deregulation, you now have the opportunity to select your electricity provider, allowing for greater flexibility and potentially better rates.
When shopping for a retail energy provider, tenants should consider several key factors to ensure they choose the best option for their needs and budget. Here are some suggestions on what to look for:
Price and Rate Structure: Compare the price per kilowatt-hour (kWh) among different providers. Check if the rate is fixed, variable, or indexed. A fixed rate remains the same throughout the contract, while a variable rate can change based on market conditions.
Contract Terms: Understand the length of the contract and what happens at the end of the term. Some contracts auto-renew, which might not be desirable for everyone.
Fees and Penalties: Look out for any additional fees, such as early termination fees, monthly service charges, or minimum usage fees. These can add significantly to the overall cost.
Green Energy Options: If environmental sustainability is important to you, check if the provider offers renewable energy sources like solar, wind, or hydroelectric power.
Customer Service: Consider the provider’s reputation for customer service. Look for reviews or ratings online to gauge their responsiveness and quality of service.
Energy Efficiency Programs: Some providers offer energy efficiency programs or incentives that can help reduce overall energy consumption and costs.
Billing and Payment Options: Check if the provider offers convenient billing and payment options that suit your preferences, such as online payments or paperless billing.
Regulatory Standing: Ensure the provider is properly licensed and in good standing with the state’s public utility commission or the relevant regulatory body.
Price Stability and Predictability: For budgeting purposes, understand how stable and predictable the pricing is. This is particularly important for businesses that need to forecast expenses.
Special Offers or Incentives: Look for any introductory offers, discounts, or loyalty rewards that might be available.
Community Engagement and Reputation: Consider the provider’s involvement in the community and their overall reputation in the industry.
Ease of Switching: Understand the process of switching from your current provider to a new one, including any transition costs or steps involved.
It’s important to conduct thorough research and compare multiple providers before making a decision. The right choice can lead to significant savings and a better energy service experience.