So you’ve received a notice that you will be switching to a Provider of Last Resort and now what? Well, the Provider of Last Resort is who will be temporarily taking the place of your current electricity provider. Why? Because your current electricity provider is no longer in the market of providing you with electricity. The Provider of Last Resort ensures that there is no interruption of electricity service to your business or home. Think of the POLR as a backup parachute, you appreciate that it is there but hope that you never have to use it. The Provider of Last Resort is high-priced due to the risk of taking on an uncertain amount of customers and an uncertain amount of electricity loads. The current POLR rates are approximately two to three times the current market rates.
Who decides who the Provider of Last Resort is?
The Public Utilities Commission of Texas (PUCT) decides which certificated Retail Electric Providers will be the Provider of Last Resort.
How do I know this is not a new scam?
The Public Utilities Commission of Texas (PUCT) will be contacting you by mail, e-mail, and/or phone to inform you. Your current provider or broker might also reach out. But always ask for a call back number or PUC registration number and verify it. Or call us 512-240-2929.
What should I do know? I don’t want to use a POLR.
Give us a call, send us an email or fill out the quote request. We are here to help you in every way we can to maximize your electricity savings and mitigate and risks.
Learn more about POLR policies in case your REP goes out of business, you are welcome to read this document from the Texas PUC.