“Bait And Switch” Leads to Prison Sentence
Manufacturing companies once practiced this technique of promising one product while delivering something cheaper. In this day and age, this kind of activity is a crime in any business.
This may act as a wake-up call, a “coming of age” issue for the energy industry. Previously there were few energy suppliers and most trusted their own employees to be transparent and honest. The proliferation of energy suppliers combined with the use of third parties to sell has the unfortunate effect of increasing the chances of such dishonesty and greed.
I am glad to see that it was dealt with in a severe manner because unscrupulous practices will continue if not caught and prosecuted.
Energy supply services are unique amongst most other businesses in that regulatory protection as well as consumer protection helps guard against abuses.
Read the full Retail Energy article, “SHOCK: Broker Agent’s Electricity Rate ‘Bait And Switch’ Leads to Prison Sentence”
In Response to “The global oil industry: Supermajordammerung”
Written by Michael Vrtis President of Realgy Energy Services in response to the Economist article The global oil industry: Supermajordammerung
The energy industry includes some of the largest companies and business entities in the world. Energy is by far the largest traded entity in the world (probably next to money!).
Realgy Energy Services represents a small piece in that picture but we witness the changes in the industry. In reading the following article the comparison between what goes on at the largest part of the energy industry is also apparent below.
Consider the following:
The major oil companies purposely outsourced technical expertise to service companies.
Countries with oil and gas resources had new found leverage against the majors; the ability to hire technical services were met with ready available financial resources (internal or external). The result; the majors were pushed out of some of the most developable oil fields in the world.
So the majors have to look elsewhere to keep their business operating. Which means they explore and develop in ever more remote locations (deep water gulf).
Analogous is States wanting to reduce the cost of energy for their residences/business (think of them as the countries). The utilities are the majors. So when regulators/States sought leverage over the utilities to lower costs; the creation of customer choice programs enabled the technical ability that existed in the marketplace (energy traders and schedulers) to directly serve consumers at a scale that allowed the energy marketers’ businesses to grow and flourish.
In both cases the consumer of energy has benefited from lower cost energy.
Check out The Economist article: The global oil industry: Supermajordammerung
Deregulation and how it can help you save money with Realgy Energy Services
Deregulation is the separation of purchasing energy, and the distribution of the energy. While your utility will continue to deliver your energy, deregulation offers the opportunity for third party suppliers such as Realgy Energy Services to supply you with the same energy at a lower rate.
Lawmakers are carefully protecting consumers, as the energy industry implements the restructuring of itself from a regulated monopoly to a competitive service. Strict requirements and rules have been imposed on all new energy suppliers.
At Realgy Energy Services, we take consumer protection very seriously and provide you with protection beyond what the law requires at every step of the way.
Realgy Energy Services, like other companies selling to industrial, commercial and business customers, must:
· Register with the Public Utilities Commission or local utility
· Be approved by the Public Utilities Commission or local utility
· Provide financial guarantees to the public Utilities Commission or local utility
· Demonstrate customer service
You have the right to file a complaint against your supplier with the Public Utilities Commission or local utility. Any company violating the rules will have its registration revoked and will no longer be allowed to sell.
How does deregulation help you save money?
Deregulation of natural gas and electricity puts the power in your hands as a consumer; it gives you the choice to decide whether you purchase your energy from your utility or from a third party supplier like Realgy Energy Services.
In addition to saving you money on your energy usage throughout the year, Realgy Energy Services also offers to all of our customers:
Direct contact with our friendly Customer Service Team – We are here to answer any questions you may have (877) 300-6747
PriceWatchTM – Alerted when fixed pricing will reduce costs
Summer Storage Program – Purchase a percentage of gas at low summer rates to use during the winter
RealgyOfficeTM – Allows online access to account information quickly and conveniently
Check out our competitive rates at www.realgyenergyservices.com just enter your zip code in the Service Plan Offers box.