Tighter Rules for Texas Electric Companies
By energy_linguist, August 20, 2009, News
New rules from the PUCT are effective as of Monday, primarily in response to a group of smaller Texas electricity providers that suddenly went out of business post price spikes in the Texas wholesale electric market last summer. Larger Texas electric companies electricity providers will offer residents more opportunity to switch and better communication when it comes to the end of their contract terms.
Specific changes include:
- 14-day notice to all customers when their contracts expire, with the envelope it comes in labeled with the phrase “Contract Expiration Notice” on the outside.
- Switching providers will take no longer than a maximum of seven business days.
- PUCT requires tighter financial reporting and standards for REPs, meaning the health of the company will be monitored to prevent smaller companies from collapsing and causing chaos for consumers.
The regulations were detailed in greater length by the Houston Chronicle late last week.
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