I get tons of customer reviews through Texas Electricity Ratings, and one of the most consistent issues I see are negative reviews based on misconceptions, or in some cases, a lack of understanding of how the deregulated electricity market works. Since a big part of what I do is to try and help educate people on how the market works I’m going to paste some reviews that I didn’t let through the website for various reasons, which I will explain at length below.
An interesting article out of Dallas recently reported about a lawsuit being filed that accuses Stream Energy, or more specifically, the marketing arm of the company, of being nothing more than a pyramid scheme. There have been a lot of different accusations thrown at the different Texas electric companies since deregulation, but this is the first time I can remember any of them being called a pyramid scheme.
Now, to be perfectly fair, this accusation has NOTHING to do with their electricity service, so there isn’t any chance that any customers of Stream Energy out there having to worry about their service just shutting off one day and reading stories of executives fleeing to Brazil with bundles of cash. And that’s important to keep in mind, so I’ll repeat: This has nothing to do with their electricity service. It’s just a marketing arm of the company designed to incentive people to sign up new customers and other sellers to the program.
Now, that being said, it’s definitely interesting to think about a huge arm of a company being accused of anything on this level of impropriety. And this entire accusation and lawsuit could be complete garbage. Remember, this is just an accusation. Still, I found the news interesting, and if nothing else, it’s yet another example of all the different and unexpected news had happenings that can appear from seemingly nowhere in a deregulated electricity market. All the more reason to check in regularity for the prices and offers and incentives the different electricity providers in Texas have to offer the consumers. And that’s where Texas Electricity Ratings comes into play, helping Texans answer their questions about energy choice.