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Abundant IoT Headquarters
Phone:
(217) IoT-4-You / (217) 468-4968
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(774) 4-Energy / (774) 436-3749
Energy FAQ
What is the difference between a deregulated energy state and a regulated energy state?
In energy deregulated states, end consumers can buy their energy supply (Electric Power & Natural Gas) from a third-party supplier and not their traditional utility. However, deregulation is not available in every state. See Abundant IoTs map to find out if deregulation is available in your state. Buying from third-party suppliers provides consumers the opportunity to save on their costs.
What is meant by energy choice?
Energy Choice is synonymous with energy deregulation. Energy choice is the ability for the consumer to choose their energy supplier.
What is the difference between a supplier and a utility?
A supplier is a REP (retail energy provider) while a utility is the company that sends you your utility bill (PG&E, Edison, Coned, etc).
What are the main components of electricity?
- Generation: The physical creation of electrons to be put on wires to be used by consumers. Typically, electrons are generated at power plants using resources such as Generation coal, natural gas, nuclear, solar, or wind
- Transmission: The sub-stations, poles, and high voltage wires that transmit bulk electrons across long distances to power demand centers
- Distribution: The poles and low voltage wires that transmit electrons short distances and deliver them to the plug
What is the Electric Grid?
The electric grid is the interconnection of the generation, transmission, and distribution resources ensuring that supply for electric power meets demand across geographies.
What comprises electric costs?
Your energy costs are comprised of multiple line items. The main sections align with the generation, transmission, and distribution components costs along with taxes. Within each of those components, there are specific elements that make up each and vary depending on the region.
What impacts the electric prices I receive?
Electricity and Natural gas are commodities that are actively traded like gold or corn. Prices are dynamic and changing continuously. The price you get today will not be the price you get tomorrow. Price fluctuations can be caused by changes in prices of input fuels like coal or natural gas, extreme weather, as well as changes in supply and demand.
What is the difference between kW and kWh?
A kilowatt or kW is simply a measure of how much power is consumed by an appliance or building. A kilowatt-hour or kWh measures the energy an appliance uses in kilowatts per hour. Both are used to calculate fees on your bill.
What comprises my natural gas bill?
Your natural gas bill is comprised of the cost of the natural gas commodity along with distribution and pipeline charges. Similar to electric power, pipeline and distribution charges are the costs associated with moving gas to demand centers and to the burnertip.
What is the difference between CCF/BTU/Therm?
These are different measurements of natural gas.
What is the difference between a fixed or variable rate?
A fixed-rate plan means that you will pay the same rate each month for the duration of your contract. Fixed-rate plans protect your business from price increases in the market.
A variable-rate plan change month to month based on the market prices. This rate structure allows businesses to take advantage of low pricing during market dips but also exposes businesses to upside pricing risk.
How does contracting work?
Once you have chosen a supplier to work with you can set up a day and time to execute an agreement. You can have a contract start anytime in the future be it a month ahead or two years ahead depending on your current situation. A specific day and time are required because pricing is only valid until market close. You can execute a contract for any term length as well up to 5 years.
What if I want to get out of my contract?
Once you have executed a contract, you are responsible for the payment through the term of the contract. If you exit the contract prior to the end of the agreement, you will be subject to liquidated damages.
What if I am already in an agreement?
Not a problem. We can look into entering you into an agreement for a future term.
How does switching work?
Switching is a simple billing change once a contract is signed. You don’t have to make any calls and your new provider will take care of everything. You can expect to see the billing change 60-90 days after your new contract starts.
Can I buy green power?
Yes, Abundant IoT offers green options to make your business more sustainable.
Who do I call if my power goes out?
The electric utility still manages all issues at your facility.
What is an energy audit?
An energy audit is a review of all your building systems, energy consumption patterns, and existing contracts. An audit will help determine what solutions and services will be best fit your business model. The audit will be comprised of multiple parts including discovery calls with your leadership team and on-site visit.
What if I don’t own the building?
Ownership isn’t necessary to deploy energy solutions at your facility. However, it will limit some of the potential options depending on the structure of your lease agreement.
Do I need capital to deploy a project?
No, there are many financing options available for projects that do not require any upfront capital.
What is the typical payback or ROI on an efficiency project?
While each payback length is dependent upon each unique project, typical payback is between 2-5 years. ROI can be as high as 30% and typically ranges between 15-25%.
