On August 13, Staff of the Public Utility Commission of Texas filed a petition to revoke the retail electric provider certificate of TexRep7, LLC, which did business as Saturn Power, LLC, after the company had previously defaulted on its Standard Form Market Participant Agreement with ERCOT, the entity which runs the state's wholesale electric market.
Two retail electric providers have defaulted in the Texas electric market in as many months, as SaveOnEnergy.com previously told customers about the default of another retail electric provider known as Epcot Electric. Unlike with the default of Epcot, the default of Saturn Power did trigger a transfer of a customer to the "Provider of Last Resort" -- a backstop provider which charges electric rates up to three times as high as standard prices due to the provider's requirement to serve such customers on "no notice."
It's another reminder that all Texas electric providers are not created equal, and that certain providers offer financial stability in addition to low rates, while others are essentially a high-stakes gamble for customers. How can Texans know which electricity providers are reputable and dependable companies, and which are fly-by-night companies who could go bankrupt next month?
SaveOnEnergy.com takes the guesswork out of shopping for a low electric rate, and answers this and many other important questions. Only proven, financially sound, and technically fit electric providers are approved by SaveOnEnergy.com, so when you find a low electric rate on SaveOnEnergy.com, you know it's being offered by a reputable company that will be able to honor the low rate for the long-haul.
The industry experts at SaveOnEnergy.com screen all retail electric providers against a rigorous criteria to ensure that the providers have the capability and experience to withstand the ups and downs of the electric market, and won't leave customers stranded. Only the best retail electric providers make the cut. That means customers can shop with SaveOnEnergy.com for a low energy rate with peace of mind, knowing that they're not going it alone when it comes to finding a new electric provider.