Fate Power Switch
The Fate Power Switch helps residents better understand the electricity market in Texas and save money. It provides a mechanism to help residents better understand the confusing, deregulated energy market.The winter auction was held January 28, 2020.
The Fate Power Switch offers residents the opportunity to benefit from volume buying of power in order to lower individual monthly bills. The more people that register for the program, the better the opportunity for the broker to make a low-cost deal. There is no cost and no obligation associated with the program. A number of other Texas cities, including Farmers Branch, Waco and Lancaster are also participating in the program, with many more anticipated in the future.
The power switch period moves through four phases:
Sign Up: Anyone living in a deregulated (ONCOR power grid) area can register for the Fate Power Switch.
Rate Announcement: Providers will bid against each other in a reverse energy auction. The provider who offers the cheapest rate gets to offer you a new electricity contract.
Personal Offer: After the auction, residents will receive a personal offer which will outline the potential savings.
Accept/Decline: After residents receive their personal offer, they will have the option to accept or decline it. For those who accept, the Power Switch team will take care of the entire switching process.
Remember: If you’ve already participated in a previous program, keep in mind that you have to re-register every year.
Power Switch Results
The winter Fate Power Switch energy auction was a great success! If you haven’t already signed up, join your friends and neighbors and find out if you could save on your electricity bills. Sign up here!
The Power Switch program resulted in two winning offers: a 12 and a 24-month fixed-rate and 100% renewable plan. The winning rates are approximately 20-24% lower than the average rate of similar plans available from other providers available on the day of the auction. As an added bonus, the winning provider offers active military members no deposit regardless of their credit rating.
The potential savings will depend on a household’s annual usage. For example, a household that uses 16,000 kWh a year could save an average of $411 per year with the 12-month plan. The savings could be even greater with the 24-month plan.
If you have not yet registered for the program, you can still sign up until March 3, 2020.
If you need help or have questions, email email@example.com or call 888-376-2077 from 8 a.m. to 10 p.m. (Monday through Saturday). For more information, check out the video below.
* Please note: Farmers Electric Cooperative customers are not eligible to participate.
* There is no cost to the City to offer this service, nor does the City receive any financial benefit.
|Next Registration Start Dates||Switching Windows|
|November 25, 2019||February 11, 2020 - May 19, 2020|