The way consumers choose energy providers is changing, and even though competition is a good thing, it can be confusing. These are some of the most frequently asked questions we get from consumers who are considering Ambit Energy.
What has changed in electric and natural gas service with deregulation?
You can now choose to buy residential energy from a different supplier than the original provider for your area. These companies are called Retail Electric Providers (REP) in Texas and Energy Service Companies (ESCO) in New York. Ambit Energy is State-approved in Texas and New York as a residential energy supplier consumers can choose when seeking to save money on their electric bills.
How does Ambit Energy reduce my monthly bills?
Deregulation allows REPs and ESCOs, like Ambit Energy, to buy energy wholesale from competitive providers and pass the savings along to customers.
If I switch, where will my power come from?
Your current electric utility or "Local Wires Company" will continue to deliver your electricity. Your Local Distribution Company (Con Ed in New York) will continue to deliver your natural gas. Your power will come from a regional power pool – a mixture of energy from traditional power plants and other sources like wind, water, sun and natural gas. Your local utility company still responds to service interruptions and continues to maintain the power delivery infrastructure. You will continue to receive the same reliable service you are used to with your current utility company, regardless of which Retail Electric Provider or ESCO you receive service from.
Will the reliability of my residential energy service change with deregulation?
No. No matter which REP or ESCO you choose, power will continue to be delivered safely and reliably by a company still regulated by the Public Utilities Commission in Texas, or the Public Service Commission in New York.
What happens if I have an emergency or power outage?
Because your local utility is still responsible for maintenance and repair, you will call these regulated firms in the event of an emergency or outage at the number provided on your bill. In New York, you still call Con Ed.
Does everyone have the power to choose their energy supplier?
No. City-owned utilities and member-owned electric and/or natural gas cooperatives have the option of giving their customers a choice of providers, or keeping things the way they are today.
What happens if my Retail Electric Provider (REP) or Energy Service Company (ESCO) goes out of business?
You will not be without power. You should receive a notice from your REP or ESCO giving you time to select a new provider.
In Texas, if that does not happen, your service will be provided by the Provider of Last Resort (POLR) designated by the Electric Reliability Council of Texas (ERCOT) until you select a new provider.
In New York, your energy supplier will revert to Consolidated Edison.
Be assured, Ambit Energy is financially solid and is in no danger of going out of business.