Texas Electricity Ratings: Rankings Update: 6/17/2013

Now that Summer is in full swing, with higher electricity rates hitting the market and several months of new customer reviews in the system, it is once again time to update the Texas Electricity Ratings company rankings and see how providers stack up.

Unsurprisingly many established providers lost points this time around with the higher market electricity rates, although that was somewhat offset by other ranking factors. That being said, there’s no arguing how higher electricity prices are altering the Texas electricity landscape. Without further ado, here are the rankings:

Bounce Energy                 4.01
Champion Energy             3.89
TriEagle Energy                3.75
StarTex Power                  3.71
Gexa Energy                     3.68
Amigo Energy                   3.15
Direct Energy                    2.98
TXU Energy                       2.84
Green Mountain Energy     2.75
Reliant Energy                   2.47

Congratulations to Bounce Energy, who once again held onto the top spot. Bounce is followed up by Champion Energy, another mainstay at the top of the ratings. Newcomers TriEagle Energy, StarTex Power, and Gexa Energy round out the top five.

When comparing these latest ratings to the ones from last summer, it is really apparent when just how much the market cap has really altered the way electricity companies are assessing risk in their portfolios as well as how the generators are bidding out electricity. In short, it’s really amazing just how much higher rates are across the board for customers, regardless of which provider they choose.

 

Champion Energy Launches Customer Usage Emails

Champion Energy announced yesterday that they are going to start offering PowerTrack emails. PowerTrack emails are weekly letters from Champion to their customers with smart meters which will feature usage data that shows how much electricity they’re using each day. The idea is to be able to see how customer usage behavior will affect their bills, and how it changes from day to day with different temperatures. Champion isn’t the first to offer their customers email information like this, however they do join Bounce Energy as a very small group of retail electricity providers to offer this service to their customers, along with Reliant. You can  Continue reading “Champion Energy Launches Customer Usage Emails” »

Source Energy Starts Another Electricity Company — Why?

Have you ever heard of Source Energy? If you said “No” I don’t think anyone would be surprised. I certainly wouldn’t be surprised. I only know who they are because I work in the Texas electricity space. Source Power & Gas is a certified retail electricity provider (REP), formally licensed in 2011. I think that I vaguely remember starting to see their plans pop up on Power To Choose around in 2012. But new REPs pop up on Power To Choose all the time. So what makes Source noteworthy today?  Continue reading “Source Energy Starts Another Electricity Company — Why?” »

Power To Choose To Become More Consumer Oriented?

Recently it was announced that Power To Choose will be launching a new website on May 6th, with the hope that the new site will be “more focused on the shopping experience.”  Also, notable is that shoppers will now be able to rate retail electricity providers. Hmm. That sounds familiar. I think there’s another Texas electricity website Continue reading “Power To Choose To Become More Consumer Oriented?” »

Is ERCOT Ready For The Summer Electricity Load?

The past several months there have been a number of discussions about Texas’s power generation shortage over several related topics. Talks about the demand response programs, whether there will be rolling blackouts, the effect of the new Market Cap Increase, and how electricity rates will be effected are all part of the discussion. Recently, however, I saw some behavior Continue reading “Is ERCOT Ready For The Summer Electricity Load?” »

UPDATED: For the PUC Complaint Scorecard, the PUC Continues to Score an “F”

The PUC Complaint Scorecard, one of the primary resources for consumers to research Texas electricity providers, is once again out of date. Sadly, this isn’t much of a surprise, since the consumer advocacy purview of the PUC seems to have taken a backseat to…well…anything but updating their complaint scorecard.

As of today (4/29/13), the Complaint Scorecard hasn’t been updated since February 28th. That means that they’re more than one month late on updating their complaint scorecard for Texas electricity providers. And the latest data for consumers is more than two months old. If the PUC were updating it according to schedule, we’d have had the March scorecard posted at the beginning of this month, and we’d be days away from the release of April’s scorecard. But there’s no telling when they’ll actually get around to updating it.  And now that summer temperatures are starting to creep into Texas, and a majority of people will be doing their shopping for new electricity providers, customers need the latest data more than ever to help them make informed decisions.

Of course, this isn’t the first time in recent memory that the PUC has been tardy with their scorecard. I’ve previously written about overarching issues in November of 2012, January of 2013, and February 25th of 2013. That means that outside of December (where I possibly missed it because of the holidays), the complaint scorecard hasn’t been updated on time in almost 6 months.

Ironically, the last time they updated their complaint scorecard was 3 days after the last article I wrote calling them out for failuring to keep it regularly refreshed. Coincidence? I guess we’ll see when they get around to updating it again this time. One thing is certain, however. It’s difficult to give the PUC any kind of grade other than “F” for their efforts on the scorecard to date.

UPDATE: After my post this morning, coincidentally, no doubt, the PUC updated everything for March about 2 hours later. It only took 29 days and one public question to get there.

Energy Future Holdings News Dump – 4/18/2013

When it comes to media coverage, It just keeps getting more and more interesting for Texas electricity company Energy Future Holdings this week. First was the news that that the company formerly known at TXU was buying time to pursue bankruptcy deals for their various subsidiaries. That is huge news, but if that wasn’t enough  Continue reading “Energy Future Holdings News Dump – 4/18/2013” »

Generators Claiming They Can’t Make A Profit is Nonsense

This won’t be a long post. I saw an article this morning that NRG is purchasing a power generation plan in Corpus Christi for 244 million dollars. You can read about the details: here. Here’s why this news is completely absurd:  Continue reading “Generators Claiming They Can’t Make A Profit is Nonsense” »

Donna Nelson On Residential Customer Demand Response

I’ve been fairly critical of the PUC in recent posts, but recently Donna Nelson did speak out on something that I do actually agree with…or at the very least, it seems fair. As the generation capacity of Texas continues to shrink, and as the PUC’s efforts to lure new generation to date have failed,  Continue reading “Donna Nelson On Residential Customer Demand Response” »

Is There an Texas Electricity Market Bubble?

I’ve written before about my concerns about how Texas electricity companies are selling electricity plans at a loss, and I’ve written before about my thoughts on electricity companies potentially going out of business during summer months. Now, I’d like to take a look at something based on both of those concerns combining to cause  Continue reading “Is There an Texas Electricity Market Bubble?” »