Realgy Settlement with IAG
PRESS RELEASE
Realgy Settlement with IAG
20 AUGUST 2019 | BY: REALGY, LLC
Realgy Energy Services recently settled an investigation with the Illinois Attorney General (IAG) over allegations of non-compliance with consumer protection laws.
The IAG investigation stemmed from a TV report and a unique Realgy offer; Guaranteed Savings below the utility. Realgy is the only energy marketer in Illinois that guarantees its energy rate will be below the utility. The investigation covered 7 years, the entire time Realgy Energy Services provided service to residential customers in Illinois.
The result, Realgy provided savings per below:
| Utility | Savings | Energy Savings ($) |
| NICOR, Peoples and North Shore | Yes | Over $300,000 |
| Ameren | Yes | Over $400,000 |
| ComEd | Yes | Over $110,000 |
Michael Vrtis of Realgy Energy Services stated, “The investigation looked at our energy costs paid by the customer compared to what the customer would’ve paid for the utility’s cost each month during the 7 years we served residential customers. Customer savings resulted from the fact that Realgy’s energy costs were on average less than the utility.”
So, Realgy saved Illinois customers money.
However, Realgy reached a settlement with the IAG to refund $181,000 to ComEd customers. Again, Michael Vrtis, “Yes, even though our energy costs were less during this time, we had a high turnover of customers. The resulting early termination fees paid by these customers when added to the savings brought the total costs to ComEd customers above the utility.”
Realgy acknowledged the IAG findings in agreeing to the refund as its goal is to provide savings as compared to the utility costs. “The IAG conducted a fair review of Realgy’s practices and we agreed to the refund and to changes already made to our sales practices like eliminating door to door enrollments and monitoring our sales agents more closely,” stated Michael Vrtis. The IAG assembled a list of transgressions they uncovered during their investigation of many other energy marketers. The list was included in the settlement even though Realgy was already in compliance with them.
Realgy reported that the bulk of the refunded amount of $100,704.06 will go to 1,871 existing customers and the remainder to clients that were served by Realgy between January 2012 and January 2019. The average refund is $36.60.
Realgy, LLC
Michael Vrtis, President
675 Oakwood Avenue
West Hartford, CT
860-233-2270
DOE EIA Weekly Gas Storage Report
Working gas in storage was 2,738 Bcf as of Friday, August 9, 2019, according to EIA estimates.
This represents a net increase of 49 Bcf from the previous week. Stocks were 357 Bcf higher than last year at this time and 111 Bcf below the five-year average of 2,849 Bcf. At 2,738 Bcf, total working gas is within the five-year historical range.
10 ways to cut utility bills and conserve energy during the hot summer
Summer 2019 brought us the hottest month ever recorded and higher than average temperatures are predicted through September. With the way July played out, we want to remind you of some tips to lower your energy bills and help the environment.
Regulating thermostats and keeping your home comfortable means ensuring doors and windows are tightly sealed. Use a ceiling fan while in occupied rooms and together they will keep you cool while reducing annual costs.
Cool down the house by using less electricity and heated water. Unplugging devices when not in use and limiting appliances that generate heat really makes a difference. Try colder meals or grilling out instead of using the oven. Use cooler water for laundry and take lukewarm showers. These aren’t just for lowering your bills and helping the earth- there are health benefits to these concepts for you as well.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: https://www.mercurynews.com/2019/08/13/10-ways-to-cut-utility-bills-and-conserve-energy-during-the-hot-summer/
The Worst Is Still To Come In Energy Markets
August hasn’t been a great month for the stock market this year. However, energy stocks are taking the largest hit and are the only sector currently in a bearish state. Due to the U.S. – China trade war, crude oil prices lowered and the domino effect into the energy industry is projected to worsen. With the sector trending downward, Ari Wald from Oppenheimer recommended to CNBC to “stay away from energy”.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: https://finance.yahoo.com/news/worst-still-come-energy-markets-230000716.html
DOE EIA Weekly Gas Storage Report
Working gas in storage was 2,689 Bcf as of Friday, August 2, 2019, according to EIA estimates.
This represents a net increase of 55 Bcf from the previous week. Stocks were 343 Bcf higher than last year at this time and 111 Bcf below the five-year average of 2,800 Bcf. At 2,689 Bcf, total working gas is within the five-year historical range.
Choose your own electric company in Arizona?
Arizona has been discussing energy deregulation to decide if they will allow customers to choose where their energy supply comes from. The utilities currently monopolize the state and consumers must use the utility they are assigned. Through competition, the prices would be driven down and improvements in dependability and customer service would occur.
Commissioner Justin Olson states, “Data shows that since 2008, there has been a significant decrease in rates in the 14 states that have competition compared to a significant increase in rates to states that still prohibit competition in the energy sector.”
Another option would be partial competition in which only businesses or aggregates would be able to shop around for their energy. It is unclear when a vote will take place. Until more questions are asked and answered, Arizona will remain regulated by the state.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: https://www.azcentral.com/story/money/business/energy/2019/08/06/arizona-energy-deregulation-rules-corporation-commission-aps-tuscon-electric-srp/1871816001/