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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.
Energy Choice is synonymous with energy deregulation. Energy choice is the ability for the consumer to choose their energy supplier.
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).
The electric grid is the interconnection of the generation, transmission, and distribution resources ensuring that supply for electric power meets demand across geographies.
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.
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.
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.
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.
These are different measurements of natural gas.
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.
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.
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.
Not a problem. We can look into entering you into an agreement for a future term.
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.
Yes, Abundant IoT offers green options to make your business more sustainable.
The electric utility still manages all issues at your facility.
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.
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.
No, there are many financing options available for projects that do not require any upfront capital.
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%.
Contact the experts at Abundant IoT.