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
Consumers vs. DTE long term planning – winners and losers?
How do the 2 largest utilities in Michigan plan to continue to provide electric services?
Their planning is part of each utilities submission of their long range plans required to be submitted and approved by the MPSC.
Consumers’ plan is approved and was praised by environmental groups and energy professionals for aggressively moving to renewable energy that is less costly than fossil fuels.
DTE on the other hand just recently submitted their plan. It was of course compared to Consumers. Most environmentalists and energy professionals found it to be less ambitious and more likely to maintain current status.
A comparison of the 2 plans is below.
DTE made the case they need a new solar plant while Consumers demonstrated that solar and wind can supply much of their forecasted need.
Unlike solar energy which requires no fuel, natural gas is a volatile commodity that can increase in price dramatically over time.
DTE customers will pay for any increase if the operating costs for the new gas plant are above predictions. Likewise, Consumers customers could see declining energy prices.
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: