IT'S TIME TO PICK YOUR ELECTRIC PROVIDER
What does retail electric competition mean for my business?
Just like comparing and shopping for cell phone or internet plans, retail electric competition means businesses can shop for their own electric plan from multiple retail electric providers, comparing pricing, types of fuel resources, and overall contract terms.
Businesses have more options, but shopping takes time and can be confusing
The Chamber's Power Buying Program is a cooperative led by a team of energy experts with experience helping businesses negotiate the best rates and navigate complicated contract terms.
The Chamber Power Buying Program
Leverages collective buying power for better rates
Better rates are negotiated when total electrical wattage of participating businesses is leveraged, saving money.
Leaves the shopping to the energy experts
Energy experts negotiate rates and contract terms, saving time.
Gives businesses the final say
When the best rate is secured, it is presented to members of the Chamber's Power Buying Program for approval.
More about the team of experts leading the Chamber Power Buying Program
CQI Associates is an energy and sustainability management consulting firm with 25 years of proven success administering energy Co-ops for Chambers of Commerce. To learn more about CQI visit CQIAssociates.com
More about the transition
The transition to retail energy providers occurs this fall. Businesses who do not choose will be assigned to a default energy provider.
What will LP&L do?
LP&L’s job will be to maintain the electric infrastructure they currently own that transports the electricity and safely delivers the product to customers' businesses and homes.
- Energy deregulation: The act of separating generation, transmission, distribution and sales processes and allowing several supply companies to compete for customers.
- Retail electric provider (REP): REPs are the companies that compete with one another in deregulated areas to sell energy rates to residential and commercial customers. They are responsible for the supply of your energy, while the local utility oversees the delivery.
- Transmission and distribution service provider (TDSP): TDSPs own or operate the equipment that transmit and distribute electricity in Texas. LP&L will be the TDSP for Lubbock and will take care of your poles and power lines. This is also the company you should call in case of a power outage.
- Default retail provider: A stopgap energy provider who supplies your electricity if you do not choose a retail provider or if your retail provider goes out of business during your contract term. These are assigned by utility area.
Q: What does retail electric competition mean for my business?
A: Just like comparing and shopping for cell phone or internet plans, retail electric competition means businesses can shop for their electric plan from multiple providers.
Q: What happens to LP&L?
A: LP&L’s job will be to maintain the electric infrastructure they currently own that transports the electricity and safely delivers the product to customers' businesses and homes.
Q: What happens if I don’t choose a provider for my business?
A: Businesses not making the choice will be to a default retail provider, a stopgap solution for electricity.
Q: Should I start shopping now?
A: Yes, the switch to from LP&L to ERCOT happens this fall and businesses must choose a provider by then.
Q: Why did the Chamber decide to offer the Power Buying Program?
A: Chamber members are busy running their organizations. The Power Buying Program energy cooperative was created with the goal of helping our members save time and money.
Q: Who is managing the Chamber's Power Buying Program?
A: The Chamber is partnering with CQI Associates, LLC, an energy and sustainability management consulting firm, to administer the program. CQI was selected because of their proven success administering Chamber of Commerce Energy Cooperatives over the last 25 years.
Q: Will the Chamber or CQI receive a percentage of sales as an incentive to sign me up?
A: No. The Chamber created this program as a member benefit. The Chamber anticipates more businesses will join to be able to participate.
Q: Do I have to join the Chamber to participate in the Power Buying Program?
A: Yes, the Power Buying Program cooperative is a member benefit giving our businesses access to energy experts and leveraging collective buying power to secure better rates. To join visit: lubbockchamber.com
Q: Once I join the Power Buying Program what is my commitment?
A: To give the energy experts with CQI permission to shop on your behalf you must complete a contract and provide energy bills found here: lubbockchamber.com/energycoop. When shopping and comparing is complete, CQI presents the rate and contract terms. You must accept or reject. If you reject the rate you are removed from the program and are free to select an energy provider on your own.
Q: How do I learn more?
A: Chamber Power Buying Program information sessions are held at the Lubbock Chamber office, 1500 Broadway, Suite 101 in the McDougal Building. To register and learn more visit: lubbockchamber.com/energycoop
What people are saying
“Our members love the energy co-op provided by CQI Associates. Well over 90% of the members who participate save, at minimum, the cost of their annual membership fee. We’ve been using CQI for over 20 years and they are professional and trustworthy.”
Mike McMullin, President
Carroll County Chamber of Commerce