If your electricity provider in Lubbock goes out of business or simply stops operating in the panhandle, Texas law requires another REP to step in and keep your lights on so that you can either enter into a contract with another electricity provider. Technically, this “back up” company is called the Provider of Last Resort or “POLR.”
Electricity providers of last resort are a safety net to ensure continuous electric service for residents, even businesses. The rate you will pay will be relatively high-priced due to uncertainty about how much electricity they need to have ready just in case. That’s why you would pay a premium. Rest assured that you will be able to quickly and easily switch to a new electric company and lock in the lowest price for electricity at that time by using the resources and tools available to sign up online.
What to Expect When an Electric Company Shudders
• A new provider guarantees to provide electricity service to you.
• You will receive a post-card from the PUC with relevant information.
• A new electricity provider of last resort will send you information in the mail from your new provider, the POLR.
• Read the notice immediately, contact the provider to make payment for the service. A POLR may require a deposit to be paid.
• START SHOPPING AND SEARCHING PROVIDERS & PLANS
GET THE LOWEST ELECTRICITY PRICE FOR YOUR HOME
FIND THE BEST ELECTRIC PLAN FOR YOUR BUSINESS
Force electricity companies to compete! Electricity providers will offer a lower price because they know they are competing for the business. This drives your price down…
• The rate offered by electric companies of last resort will be much higher than regular electricity prices. These electric companies may offer alternative rates or plans but they are not obligated to do so. Be sure to ask or shop electricity rates.
• If you are a low-income customer, you are eligible for deposit assistance. You will need to inform your new electricity company that you are currently enrolled in the state low-income program to receive the assistance.
• You may switch to a different electricity provider for free for up to 60 days!
• The PUC requires that electric companies that leave the market (different than going out of business) return any unused portion of a deposit within 7 calendar days after a meter read.