Energy News – BKV Energy https://bkvenergy.com Wed, 15 Jan 2025 23:09:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://bkvenergy.com/wp-content/uploads/2023/04/android-chrome-192x192-1-150x150.png Energy News – BKV Energy https://bkvenergy.com 32 32 What is the Inflation Reduction Act? What Homeowners Need to Know https://bkvenergy.com/blog/what-is-the-inflation-reduction-act/ Wed, 15 Jan 2025 23:08:53 +0000 https://bkvenergy.com/?p=40759 The Inflation Reduction Act of 2022 is a groundbreaking law designed to tackle rising energy costs and growing concerns about climate change. While the benefits of reducing greenhouse gas emissions are clear, many homeowners remain unaware of the Inflation Reduction Act rebates and tax incentives available to help them save money. In this handy guide,

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The Inflation Reduction Act of 2022 is a groundbreaking law designed to tackle rising energy costs and growing concerns about climate change. While the benefits of reducing greenhouse gas emissions are clear, many homeowners remain unaware of the Inflation Reduction Act rebates and tax incentives available to help them save money.

In this handy guide, we’ll break down what the Inflation Reduction Act means for you and explore practical ways to take advantage of its benefits to lower household costs and make your property more energy-efficient.

What is the Inflation Reduction Act in simple terms?

The Inflation Reduction Act, often abbreviated as IRA, aims to tackle inflation while simultaneously averting a climate crisis by advancing clean energy and climate initiatives. There is a significant focus on renewable energy sources in line with government goals to reduce carbon emissions by 65% by 2030 and reach net zero by 2050. 

Inflation Reduction Act funding makes it easier for homeowners to afford eco-friendly and energy-efficient upgrades. Tax credits and rebates for clean energy improvements also promote healthier communities and create jobs, boosting both local and national economies. 

When was the Inflation Reduction Act passed?

President Biden signed the IRA into law on August 16, 2022, marking a turning point for U.S. Congress by prioritizing long-term investments in clean energy, climate resilience, and healthcare affordability. 

The Inflation Reduction Act represents the most significant climate investment in our nation’s history to date, aligning with several other key initiatives of President Biden’s administration. For example, the Bipartisan Infrastructure Law of 2021 aims to modernize infrastructure, strengthen domestic supply chains, and spur investment in renewable energy transportation like advanced technology vehicles and maritime vessels.

Key objectives of the Inflation Reduction Act explained

The IRA’s primary objectives are designed to combine, creating a new era of economic growth, environmental protection, and public health improvement. Here’s a breakdown of how it all works. 

Tackling inflation

By stabilizing volatile markets, the IRA aims to reduce costs for families across the country by driving down electricity prices. Additional Inflation Reduction Act measures include offering rebates and credits to taxpayers who invest in more sustainable and environmentally responsible heating and cooling systems, resulting in lower utility bills.    

Promoting clean energy and climate initiatives

IRA initiatives reduce reliance on fossil fuels and reduce greenhouse gases, paving the way for a more sustainable future. For example, under the Inflation Reduction Act, solar panels, offshore wind vessels, and climate-smart agriculture programs are all available to businesses via credit subsidy. Access to financial assistance below the market rate allows firms to offer good-paying jobs to workers hired for sustainable development projects. 

Enhancing healthcare affordability

The Inflation Reduction Act also expands access to affordable healthcare by lowering costs, particularly for prescription drugs. While not directly related to energy efficiency, these provisions provide broader financial relief for families. By reducing healthcare expenses, homeowners may find it easier to allocate funds toward energy-efficient upgrades, maximizing the overall economic benefits of the IRA. 

The IRA’s impact on homeowners 

Inflation Reduction Act incentives represent a unique opportunity for homeowners to save money by embracing energy-efficient living. Here’s everything you need to know.

Tax credits

Homeowners can claim tax credits covering up to 30% of the cost of eligible clean energy equipment upgrades, including but not limited to:

  • Air source heat pumps
  • Heat pump water heaters
  • Biomass stoves and boilers
  • Geothermal heat pumps
  • Small wind turbines
  • Solar energy systems
  • Fuel Cells
  • Battery storage technology

You can find full details and information about the application process on the IRS website

Investments in energy efficiency

Additional credits of up to $1,200 per tax year are available for other qualifying home improvements, which include upgrades and weatherization updates for doors, windows, insulation, furnaces, water heaters, boilers, central air conditioners, etc. Depending on your household size and income, federal rebates of up to $8,000 may also be available under the Home Electrification and Appliance Rebate (HEAR) program.

EV incentives 

The Inflation Reduction Act promotes cleaner transportation that reduces your carbon footprint while also saving on fuel costs. Credits of up to $7,500 are available to offset any investment you make in new or used electric vehicles (EVs), provided they meet the criteria stipulated by the IRS and the US Department of Energy. You can find out more and check whether the vehicle you’d like to buy qualifies by visiting the fueleconomy.gov website

How to use Inflation Reduction Act tax credits

Here’s a step-by-step guide on how to make the most of Inflation Reduction Act benefits:

  1. Assess your home’s needs: Identify areas where energy efficiency can be improved, considering factors like insulation, HVAC systems, and lighting.
  2. Schedule a home energy audit: A professional energy audit will help identify the best systems for your needs. Plus, it’s eligible for the same 30% tax credit under the IRA.
  3. Research eligible projects: Learn about qualifying upgrades by checking the IRS and ENERGY STAR websites and consulting other reputable resources like BKVE’s Inflation Reduction Act tax credits and rebates blog
  4. Consider going solar: Additional federal tax credits are available to homeowners investing in residential solar.
  5. Upgrade your appliances: Invest in energy-efficient appliances like heat pumps and water heaters that qualify for energy efficiency credits and rebates.
  6. Purchase an electric vehicle: Use the IRA’s clean vehicle credits to save money and reduce your carbon footprint when purchasing your next vehicle. 

If you need further guidance on how to maximize your Inflation Reduction Act benefits, it’s recommended you consult a tax professional. For any upgrades or installations you proceed with, be sure to hire a certified contractor to ensure you meet eligibility requirements. Finally, always keep copies of invoices and receipts so you can claim your credits during tax filing. 

Save on electricity plans with BKVE

The Inflation Reduction Act isn’t just a policy. It’s a chance for homeowners to be part of the solution to the global climate crisis while enjoying tangible financial benefits. However, it’s not the only way you can make energy savings. Choosing the right electricity plan is also essential. 

At BKV Energy, we share the IRA’s commitment to energy efficiency and sustainability by offering straightforward energy plans to Texans that make it easy to save money while reducing your environmental footprint. Try our Bluebonnet plan risk-free for 30 days to see how much you can save! 

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Support BKV Energy in KCBD’s Best of the West Competition! https://bkvenergy.com/blog/support-bkv-energy-in-kcbds-best-of-the-west-competition/ Mon, 18 Nov 2024 19:29:21 +0000 https://bkvenergy.com/?p=35621 KCBD's Best of the West Competition

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At BKV Energy, we take pride in being a straightforward, no-nonsense electricity provider for Texans. That’s why we’re thrilled to share some exciting news: we’ve been nominated for KCBD’s Best of the West competition in the “Best Electric Service Provider” category!

This nomination is a reflection of the trust and support you, our valued customers, have given us. Now, we’re asking for your help to secure the win and show Texas why BKV Energy is Best of the West.

How to vote

Voting is quick, easy, and open until December 15, 2024! Here’s what you need to do:

  1. Visit https://www.kcbd.com/page/best-of-the-west-home/
  2. Find and select BKV Energy under the “Best Electric Service Provider” category.
  3. Choose “No Vote” or make selections in the other categories.
  4. Cast your vote by clicking ‘Submit” at the bottom of the page.
  5. Share the voting link with your friends!

Why your vote matters

KCBD’s Best of the West competition recognizes the businesses that make a difference in their communities. Winning this award would highlight our commitment to providing simple, transparent energy plans—free of gimmicks, hidden fees, and confusing terms.

Your vote doesn’t just support us; it helps spread the word to others looking for an energy company they can rely on.

Share the love

We know how much Texans love to rally together, so don’t hesitate to share this with your friends and family. Every vote counts!

And if you share your support on social media, don’t forget to tag us—we’d love to see it.

Thank you for being part of the journey

Whether you’ve been with us for years or just joined the BKV Energy family, we couldn’t do this without you. Thank you for trusting us to power your home and for helping us become the company we are today.

Let’s make this happen together—vote BKV Energy as Best Electric Service Provider in KCBD’s Best of the West competition!

Vote here: https://www.kcbd.com/page/best-of-the-west-home/

Stay tuned for the results, and thank you for being part of the BKV Energy community!

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Introducing BKV Energy’s New Customer Portal https://bkvenergy.com/blog/introducing-bkv-energys-new-customer-portal/ Wed, 28 Aug 2024 20:23:30 +0000 https://bkvenergy.com/?p=24244 Your Energy Experience, Now Smarter and Simpler

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At BKV Energy, we always strive to enhance your experience and make managing your energy account as seamless as possible. That’s why we’re excited to announce the launch of our new and improved customer portal. Whether you’re paying your bill, managing your payment methods, or simply keeping an eye on your energy usage, our new portal is designed with you in mind.

Here’s a sneak peek at some of the fantastic features you’ll now have at your fingertips:

Easier bill pay

Paying your electricity bill has never been simpler. Our new portal offers an intuitive interface that makes bill payment a breeze. With just a few clicks, you can settle your account and get back to doing what you love.

easier bill pay

Streamlined payment method management

We know that life can be hectic, and keeping track of your payment methods shouldn’t add to your stress. Our updated portal allows you to manage your payment methods with ease, giving you the flexibility to add, remove, or update your information whenever it’s convenient for you.

Autopay settings made simple

Autopay is a great way to ensure you never miss a payment, and now, managing your autopay settings is even more straightforward. Whether you want to enroll in autopay for the first time or update your existing settings, our portal makes it quick and easy.

Track your historical kWh usage

Want to keep an eye on your energy consumption? Our new portal lets you track your historical kWh usage so you can monitor your energy habits over time. Whether you’re looking to reduce your usage or simply stay informed, this feature puts the power in your hands.

track you usage

Refer friends directly from your account

Love BKV Energy? Now you can share the love by referring friends directly from your account. It’s a win-win: you get to help your friends discover a great energy provider, and you might even earn some rewards in the process!

Remember you can refer as many friends as you like! There are unlimited $50 rewards for each friend that you refer who becomes a BKV Energy customer. Plus, they earn $50 too.

refer a friend from your portal

View your documents without downloading a PDF

Say goodbye to the hassle of downloading PDFs to view your important documents. With our new portal, you can access and view all your documents directly within your account, saving you time and keeping your digital space clutter-free.

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BKV Energy Celebrates BKV Corporation’s Landmark Carbon Sequestered Gas Contract https://bkvenergy.com/blog/bkv-corporation-carbon-sequestered-gas-contract/ Tue, 23 Jul 2024 14:14:12 +0000 https://bkvenergy.com/?p=19215 BKV Energy is proud to share that our parent company, BKV Corporation, has achieved a significant milestone by signing a contract to sell Carbon Sequestered Gas (CSG) to Kiewit Infrastructure South Co., a leading construction and engineering company in North America. A huge step forward in the world of natural gas This agreement marks a

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BKV Energy is proud to share that our parent company, BKV Corporation, has achieved a significant milestone by signing a contract to sell Carbon Sequestered Gas (CSG) to Kiewit Infrastructure South Co., a leading construction and engineering company in North America.

A huge step forward in the world of natural gas

This agreement marks a major step forward in providing a first-of-its kind natural gas that product is Scope 1, 2 and 3 carbon-neutral. This means that the CSG s used by Kiewit will not contribute to greenhouse gas emissions, making it a big win for the environment and a pioneering effort in the energy industry.

What is carbon sequestered gas (CSG)?

CSG is a revolutionary type of natural gas product that is made carbon-neutral by capturing and permanently sequestering the carbon dioxide (CO₂) emissions produced during its lifecycle.

BKV Corporation achieves this by using advanced technologies to capture CO₂ during upstream natural gas production and then permanently sequestering it deep underground. This process ensures that the CSG used by consumers does not add to the carbon footprint, making it an environmentally friendly energy choice.

Why is carbon capture important?

  1. Carbon capture is crucial in the fight against climate change because it helps reduce the amount of CO₂ released into the atmosphere. By capturing and permanently sequestering CO₂ emissions, we can significantly lower the greenhouse gases that contribute to global warming.
  1. This technology allows industries to use natural gas while still meeting their sustainability goals. It’s a practical and effective way to transition to cleaner energy without compromising on energy needs. BKV Corporation’s commitment to carbon capture and the introduction of CSG demonstrate a forward-thinking approach to energy production, aiming to make a positive impact on the environment and set a new standard for the industry.
  2. Additionally, wind and solar farms cannot always generate power, like at nighttime or when the wind is not blowing. This variability makes carbon-neutral natural gas an important part of a sustainable energy future.

BKV Energy’s vision for a carbon-neutral future

BKV Energy shares a similar vision to our parent company, BKV Corporation. One day, we hope to offer all our customers carbon-neutral electricity, whether the fuel for that power comes from the sun, wind, or the earth.

For now, we are proud to offer 100% renewable electricity plans powered by Texas’ solar and wind farms.

Enter your zip code to explore plans in your area.

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Is the Texas Power Grid Ready for the Total Solar Eclipse on April 8, 2024? https://bkvenergy.com/blog/solar-eclipse-texas-power-grid-april-8-2024/ Fri, 05 Apr 2024 16:36:32 +0000 https://bkvenergy.com/?p=9391 Will the total solar eclipse impact the Texas power grid or your home’s electricity?  Starting around 12:10pm and lasting until 3:10pm CST, the total solar eclipse will have a significant impact on Texas’ power grid. Totality will last locally in Texas for about 4 minutes.   As the sun moves behind the moon and the

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Will the total solar eclipse impact the Texas power grid or your home’s electricity? 

Starting around 12:10pm and lasting until 3:10pm CST, the total solar eclipse will have a significant impact on Texas’ power grid. Totality will last locally in Texas for about 4 minutes.  

As the sun moves behind the moon and the moon casts a shadow over a significant portion of the state, there will be a reduction in solar power production where the sun is not shining. 

Solar generation could drop around 90% during the eclipse’s peak around 1:40pm.

Barry VanderHorst, Director of Portfolio Management at BKV Energy says, “Wind generation will place downward pressure on wholesale electricity prices during the event and counteract the temporary loss of solar generation. ERCOT estimates ~50 GW of demand during the eclipse and ~74 GW of estimated capacity at noon, decreasing to ~65 GW at 1PM, and gradually ramping back up to 82 GW around 4PM. This means there will be plenty of available generation capacity to provide power reliability across the state.”

ERCOT has prepared for this moment and has expressed confidence in the grid’s ability to maintain stability throughout the eclipse. You should not expect a lapse in power as a result of the eclipse.

During the eclipse, ERCOT will monitor conditions closely to ensure the grid remains stable despite the drop in solar production.  

ERCOT's 10 day solar eclipse plan for april 8 2024
ERCOT’s 10-day total solar eclipse plan.

What to do in Texas during the total solar eclipse? 

The most important thing to remember during the eclipse is not to look directly at the eclipse. There is still enough light creeping around the Moon to permanently damage your eyesight.

Only look at the eclipse through legitimate solar eclipse glasses and even then, only for a few minutes at a time. Ensure that the glasses you are using are certified by the International Organization for Standardization and have the code 12312-2 on the inside. 

If you are traveling through Texas during the eclipse, be prepared for significant traffic jams and slow movement on roadways. Small Texas towns in the path of totality are expecting an influx of hundreds of thousands of visitors. 

During past solar eclipses, highways have come to a complete standstill with many drivers running out of gas, getting stuck, and requiring the assistance of a tow truck. 

Unless you have planned far in advance to reach your total eclipse viewing destination a day or two early and to leave a day or two after, it is recommended to view the eclipse from home so as not to put yourself at risk and not to increase the number of cars on roads. 

What states will be impacted by the total solar eclipse? 

The total solar eclipse will sweep across the United States from south to northeast across the following states: Texas, Arkansas, Missouri, Illinois, Indiana, Ohio, New York, Vermont, and Maine. 

Major cities in the path of totality include: 

  • San Antonio, Texas 
  • Austin, Texas 
  • Dallas, Texas 
  • Little Rock, Arkansas 
  • Indianapolis, Indiana 
  • Cleveland, Ohio 
  • Buffalo, New York 
  • Burlington, Vermont
total solar eclipse path apr 8 2024
NASA’s total solar eclipse path map.

How will the eclipse impact weather and animals? 

Temperatures may drop between 5-15 degrees Fahrenheit during the eclipse’s peak because less sunlight will reach Earth. 

Animals will begin to react as the sunlight begins to dim. Birds may begin to flock, farm animals may head back to their barns because they believe it’s time to head to sleep, bees will return to their hives, and some plants may close during totality. Animals and plants may react this way because they think that it’s nighttime. 

When is the next solar eclipse over Texas? 

The next total solar eclipse over North America and the United States will not occur until August 23, 2044. The previous total solar eclipse seen by Texans was July 29, 1978. 

What is the difference between solar and lunar eclipses? 

During a solar eclipse, the moon passes between the sun and Earth, casting a shadow over the Earth. Solar eclipses lead to a temporary reduction in sunlight and cooler temperatures.  

During a lunar eclipse, the Earth passes between the sun and the Moon, casting a shadow over the Moon. The Moon turns red during a lunar eclipse because the light that does reach the Moon is passing through Earth’s atmosphere which is full of gases, dust, and other particles that filter the light. 

Total and annular solar eclipses are some of the rarest types of eclipses due to the Moon’s elliptical orbit around the Earth – it makes it less likely that the Sun, Moon, and Earth will line up in such a particular way to almost entirely block out all sunlight from reaching the Earth.

solar vs lunar eclipse

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BKV Energy Rewards: Ready to Start Earning VoltPoints? https://bkvenergy.com/blog/announcing-bkv-energy-rewards/ Mon, 01 Apr 2024 19:21:34 +0000 https://bkvenergy.com/?p=9329 At BKV Energy, we’re committed to providing an unparalleled experience to our customers through affordable energy plans, simple terms, and transparent communication. This week, we’re taking it to another level. That’s why we’re proud to announce the launch of the BKV Energy Rewards! What is the BKV Energy Rewards program? BKV Energy Rewards is a

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At BKV Energy, we’re committed to providing an unparalleled experience to our customers through affordable energy plans, simple terms, and transparent communication. This week, we’re taking it to another level.

That’s why we’re proud to announce the launch of the BKV Energy Rewards!

What is the BKV Energy Rewards program?

BKV Energy Rewards is a customer reward and loyalty program designed to delight our customers while saying “thank you” for being part of our family. Customers signed up for one of our Bluebonnet plans or those who are paying for the Premier+ add-on are automatically enrolled and can start earning VoltPoints right away. This program is free!

How to receive VoltPoints

Customers can earn VoltPoints in several ways:

  • Receive 25 points per month, just for remaining a customer
  • Play games like “Pick to Win,” a monthly trivia question
  • Follow BKV Energy on Facebook, Instagram, Twitter, TikTok, and YouTube
  • Plus, special surprises bonuses throughout the year
  • More ways to earn are coming soon!

Save and earn with your VoltPoints

You can spend your VoltPoints in over 500,000 different ways! There are so many prizes, giveaways, and discounts available at your fingertips through BKV Energy Rewards.

  • Daily, weekly, and monthly gift card giveaway raffles
  • Local shopping deals
  • Online shopping deals
  • Restaurant and dining deals
  • Grocery store coupons

How to get started

In the next few days, you will receive an email prompting you to create your rewards account. If you have more questions, please check out our BKV Energy Rewards support article with frequently asked questions.

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TDU Delivery Rates Are Dropping! (March 2024) https://bkvenergy.com/blog/tdu-delivery-rates-are-dropping-march-2024/ Mon, 04 Mar 2024 18:24:29 +0000 https://bkvenergy.com/?p=7032 Hey Texas, we’ve got great news! Your electricity is about to get a little cheaper per kWh. Every March 1 and September 1, utility companies update their monthly and per kWh charges, which are then approved by the Public Utility Commission of Texas. In every utility region of Texas (except Lubbock where rates remained the

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Hey Texas, we’ve got great news! Your electricity is about to get a little cheaper per kWh.

Every March 1 and September 1, utility companies update their monthly and per kWh charges, which are then approved by the Public Utility Commission of Texas.

In every utility region of Texas (except Lubbock where rates remained the same) the per kWh charges decreased in the most recent rate update from March 1, 2024.

  • Oncor: From $0.050979 to $0.045403
  • Centerpoint: From $0.05377 to $0.038957
  • AEP Central: $0.057114 to $0.048787
  • AEP North: $0.053153 to $0.045254
  • TNMP: $0.060465 to $0.050383
DATEONCORCENTERPOINTAEP CENTRALAEP NORTHTNMPLUBBOCK
March 1, 2024$4.23 per month
$0.045403 per kWh
$4.39 per month
$0.038957 per kWh
$4.79 per month
$0.048787 per kWh
$4.79 per month
$0.045254 per kWh
$7.85 per month
$0.050383 per kWh
$0.00 per month
$0.06442 per kWh
Previous Charges$4.23 per month
$0.050979 per kWh
$4.39 per month
$0.05377 per kWh
$4.79 per month
$0.057114 per kWh
$4.79 per month
$0.053153 per kWh
$7.85 per month
$0.060465 per kWh
$0.00 per month
$0.06442 per kWh

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Risks Associated with 3-Month Electric Plans https://bkvenergy.com/blog/risks-3-month-electricity-plans/ Wed, 24 Jan 2024 23:09:41 +0000 https://bkvenergy.com/?p=6617 Should You Enroll in a 3-Month Plan? When shopping for electricity in Texas, you can find plans as short as 1 to 3 months long. 3-month plans in particular may offer an enticingly low rate. But is that the right plan for you? Depending on the time of year, a 3-month energy plan may be

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Should You Enroll in a 3-Month Plan?

When shopping for electricity in Texas, you can find plans as short as 1 to 3 months long.

3-month plans in particular may offer an enticingly low rate.

But is that the right plan for you? Depending on the time of year, a 3-month energy plan may be an incredibly risky decision.

Here’s why:

  • You may enjoy cheap prices temporarily, but get stuck with super high summer prices later.

Seasonal Price Fluctuations

The cost of energy production during summer is typically much, much higher compared spring and fall. Winter prices vary based on Texas’ erratic weather patterns.

Energy production costs have a direct impact on customer pricing. The higher the cost to produce energy, the higher prices per kWh customers will see when shopping for available plans.

This means that energy prices are generally higher during the summer compared to the rest of the year.

Difficulties with Plan Renewals

Thanks to changes in prices as a result of seasonality, renewing a plan at an affordable rate can become significantly more difficult when a 3-month plan ends in June, July, or August.

Those summer months typically see the highest energy rates throughout the year and by enrolling in a short term plan during the spring, you can land yourself between a rock and hard place when it comes time to renew.

12 Month Plans Are the Best Option

12-month plans naturally balance out any changes in seasonality. That makes it easier to find an affordable plan when it is time to renew.

BKV Energy Has the Solution

When you enroll in the Bluebonnet plan electricity plan with BKV Energy, regardless of the term length, you are automatically enrolled into our Premier+ benefits program at no additional cost.

This program includes a revolutionary service called Blend & Extend. Our system automatically searches to find you a lower rate. If we find one, we’ll give you the opportunity to switch to the new lower rate for free!

Enter your zip code to explore plans in your area and take advantage of Blend & Extend today!

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Lubbock, You Need to Select an Energy Provider by Feb 15 https://bkvenergy.com/blog/default-lubbock-electricity-providers/ Wed, 24 Jan 2024 21:44:35 +0000 https://bkvenergy.com/?p=6628 Don’t get stuck with a default retail electric provider LUBBOCK – If you don’t select a provider on your own before February 15, 2024, you will be automatically assigned to a Default Retail Electric Provider (DREP). You do not have a choice in your provider if you fail to make a selection in time. There

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Don’t get stuck with a default retail electric provider

LUBBOCK – If you don’t select a provider on your own before February 15, 2024, you will be automatically assigned to a Default Retail Electric Provider (DREP). You do not have a choice in your provider if you fail to make a selection in time.

There are three electricity providers with this status:

  • Reliant Energy
  • Octopus Energy
  • TXU Energy

You may feel overwhelmed by the onslaught of information from the dozens of providers vying for your attention, messages from Lubbock Power & Light or ERCOT, and the often confusing interface of powertochoose.org.

We encourage you to make a decision anyway, because the default plans are not a good option for your budget. According to the Public Utility Commission of Texas, these services are “relatively high-priced, due to the costs associated with planning and the risk of serving an uncertain number of customers with uncertain electricity loads.”

If you do not select a provider on your own, the default provider you’re assigned to will enroll in a month to month plan.

We do not recommend month to month plans for several reasons:

  • They are typically more expensive than simple fixed rate plans.
  • The rate changes every single month — there’s no guarantee that your rate won’t increase over time.
  • In fact, it’s very likely that you will end up paying more for energy if you delay your decision making until the summer as the cost of energy production increases.

Choosing the Best Energy Plan

Choose a Simple Fixed Rate Plan

Sign up for a fixed rate plan so your rate doesn’t spiral out of control during the summer when the cost of energy production increases. The BKV Energy Bluebonnet plan offers an affordable fixed rate.

Avoid Base Charges

Many electricity companies tack on a monthly base charge up to $9.95 or more regardless of how much electricity you consume. Opt for a plan that comes without this unnecessary fee.

Our Bluebonnet will never include a monthly base charge.

Stay Away from Usage Fees

Some retail providers charge extra if you use the “wrong” amount of energy during a billing period. We recommend staying away from plans with these fees.

Signing up for the Bluebonnet plan with BKV Energy means you will never be charged extra based on your usage.

Double Check the Early Termination Fee

ETF fees can range from $150 to $300 and higher. Look for plans that offer a cancellation fee that decreases as your contract ages.

At BKV Energy, you can cancel within the first 30 days through our 30-Day Power Pilot at no cost. After that, it’s $20 per remaining month on your contract.

Select a Balanced Contract Length

We recommend selecting a plan in the middle range, lasting between 9-24 months.

Plans with these lengths offer the perfect balance between rate stability, potential early termination fees, and flexibility to switch to another plan or provider.

Always Check the Electricity Facts Label

Always, always, always check the Electricity Facts Label before enrolling in a plan.

Enter Your Zip to Get Started

Texans can save up to $500 per year with BKV Energy compared to other providers.

Our Bluebonnet plan especially puts customers first thanks to our Blend & Extend program, our system that automatically searches for opportunities to lower your rate. You can switch plans in the middle of a contract at no cost!

Enter your zip code below to explore affordable fixed rate plans without extra fees and other nonsense.

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Is Energy Deregulation Increasing Lubbock Electricity Prices? https://bkvenergy.com/blog/is-energy-deregulation-increasing-lubbock-electricity-prices/ Wed, 24 Jan 2024 19:05:36 +0000 https://bkvenergy.com/?p=6616 As you shop Lubbock providers and plans, you may find yourself questioning whether these new options will actually help you save money on electricity. Will your bills be higher or lower in the competitive retail market versus with Lubbock Power & Light? How do you know which plan is best? In this article, we’re going

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As you shop Lubbock providers and plans, you may find yourself questioning whether these new options will actually help you save money on electricity.

Will your bills be higher or lower in the competitive retail market versus with Lubbock Power & Light? How do you know which plan is best?

In this article, we’re going to compare historical electricity rates from Lubbock Power & Light to statewide average prices, discuss what outside factors impact prices, and offer expert advice on selecting the right plan for you.

Are Lubbock electricity rates higher than before?

Lubbock Power & Light shared electricity rates from the past 3 years to allow customers to compare with plans offered by the dozens of retail providers entering the market.

Rate ClassFiscal Year 2021-2022Fiscal Year 2022-2023Current RatesSummer 2024 Forecast
Residential Standard Service$0.1383 per kWh$0.1752 per kWh$0.1416 per kWh$0.1674 per kWh
Source: https://www.lpandl.com/retail-competition/information-for-customers

On the U.S. Energy Information Association website, you can find the average retail electricity rates in Texas going back to 2001. Let’s compare the average rates to the data provided by Lubbock Power & Light.

Rate2021202220232024
Lubbock Power & Light$0.1383 per kWh$0.1383 to $0.1752 per kWh$0.1752 per kWh$0.1416 to $0.1674 per kWh
Texas Average from EIA.gov$0.1211 per kWh$0.1376 per kWh$0.1427 per kWhN/A
Source: https://www.eia.gov/electricity/data/browser/

It turns out that historically, Lubbock Power & Light energy rates were around 1-3 cents per kWh more expensive than the Texas average.

Now that deregulation is here and Lubbock infrastructure has been connected to the ERCOT grid, you can expect to receive a few benefits that impact available rates:

  • You’re in control – choose your own provider and plan.
  • The grid has access to a diversified portfolio of power sources including wind, solar, natural gas, nuclear, and coal.
  • Lubbock Power & Light no longer needs to build a new power plant estimated to cost between $350-$700 million. Some of those costs would have been passed on to you. Instead, they need only construct new transmission lines estimated to cost around $110 million over 5 years.

What factors impact energy prices in Texas?

As you can see from this chart tracking the average price of retail electricity Texas back to 2001, rates have both increased and decreased over time.

What factors lead to those changes? How come sometimes energy costs more and sometimes less?

  • The population of Texas is increasing, which means the demand for electricity is increasing as well.
  • Longer, hotter summers require more electricity to keep people cool, while the increased temperatures decrease energy production efficiency from natural gas power plants.
  • Winter storms can shut down power plants that are not winterized, reducing the supply of energy when we need it most.
  • Increasing wind and solar power generation can bring down the cost of energy production when the sun is shining bright and wind is blowing strong.
  • Part of your energy bill goes straight to the utility company, not the energy provider. These TDU charges are set by the utility and approved by the Public Utility Commission of Texas.

How to choose the best energy plan

Shopping for electricity can be a confusing task. Here are our tips:

Choose a fixed rate plan

There are two main types of energy rates: fixed and variable. On a variable plan, your rate can change every single month. Make sure to sign up for a fixed rate plan so your rate doesn’t spiral out of control during the summer when the cost of energy production increases.

Watch out for base charges

Many retail providers tack on a monthly base charge up to $9.95 or higher regardless of how much electricity you consume. Opt for a plan that comes without this extra and unnecessary fee.

Stay away from usage fees

Some electricity companies will charge you extra because you used the “wrong” amount of energy during a billing period. Avoid enrolling in a plan that penalizes you for conserving energy.

Double check the early cancellation fee

There a wide range of early cancellation fees in the Texas energy market, flat fees can range from around $150 to $300 and higher. Look for plans that offer a cancellation fee that decreases as your contract ages, so you aren’t stuck with high fees if or when you decide to switch providers.

At BKV Energy, you can cancel within the first 30 days through our 30-Day Power Pilot at no cost. After that, it’s $20 per remaining month on your contract.

Select a balanced contract length

While shopping, you will see plans with a variety of term lengths. Some as short as 3 months and some as long as 4-5 years. We recommend selecting a plan in the middle range, lasting between 9-24 months.

Plans with these lengths offer the perfect balance between rate stability, potential early termination fees, and flexibility to switch to another plan or provider.

Always check the Electricity Facts Label

The number one thing we can recommend to electricity shoppers? Always, always, always check the Electricity Facts Label before enrolling in a plan. It’s the only way to determine if you’re locking yourself into a plan with a simple fixed rate, no extra fees, and superior flexibility.

BKV Energy goes the extra mile

At BKV Energy, we’re proud to recommend our Bluebonnet plan. This energy plan offers an affordable fixed rate without extra fees like base charges and usage charges.

But that’s not all.

Enrolling in a Bluebonnet plan gets you so much more through our Premier+ benefits program at no extra cost.

  • Blend & Extend: If market prices drop in the middle of your contract, we’ll give you the opportunity to switch plans to a lower rate.
  • ElectroShare Rewards: Our annual customer reward. The longer you’re a customer, the large the piece of the pie you receive.
  • Unlimited $50 Referral Rewards: Refer enough friends and family to BKV Energy and your energy bill could be absolutely free.

Texans can save up to $500 per year by choosing BKV Energy. Enter your zip code to explore simple, fixed-rate energy plans for homeowners and renters.

The post Is Energy Deregulation Increasing Lubbock Electricity Prices? appeared first on BKV Energy.

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