Electric Contract Open Enrollment
The owners of Lakes of Bent Tree have been working with energy brokers since 2014 to purchase electricity at bulk business rates with extended guaranteed rates. Brokers found us a favorable contract in 2014 and 2019.
This will be the Association's third long-term contract. Live Energy is shopping for rates. Commercial rates, on average, are lower than residential rates, they are guaranteed for longer than residential rates, and your discounts can be transferred to the new owner when you sell your house. The current contract expires in September. The chart below shows the savings owners enjoyed in the past.
Step One: is to apply here:
Step Two: The broker will shop for the best price and execute our contract. The rates are currently running between 12¢ - 14¢ . We won't know the exact price until our contract locks in.
Step Three: Broker will terminate your current electric contract and transfer you to the group purchase contract. If you currently ave an account cancellation fee, it will be billed directly to you by your current electric provider.
Step Four: SNL will post your electric fees to your Lakes of Bent Tree account each month.
If you are currently on the second master contract, you will need to go through the process outlined above as this will be a separate contract. Your billing address is:
Lakes of Bent Tree Condominiums Association
c/o SNL Associates Inc
4230 Lyndon B Johnson FWY STE 148
Dallas TX 75244-5853
Buyer: SNL Associates
Provider is TXU
Experation is 09-15-24
It is important that the billing address be exact on the application.
This is a great opportunity. Only 11 owners participated in the last contract.
I am not only extremely excited but also extremely appreciative of the effort that went into securing this for us at LOBT.
ReplyDeleteI am on the current master contract. What should I use for my billing address.
ReplyDeleteIt is important that the billing address be exact. For those currently on the master contract the billing address is:
DeleteLakes of Bent Tree Condominiums Association
c/o SNL Associates Inc
4230 Lyndon B Johnson FWY STE 148
Dallas TX 75244-5853
We're in! Thanks.
ReplyDeleteYEAH!!! I definitely want to sign up for this.
ReplyDeleteExcited to be on plan!
ReplyDeleteFINALLY! I’m so excited! Just completed my application while waiting for my car inspection. YAY!!!
ReplyDeleteWhen does the open enrollment period end?
ReplyDeleteIt says April 15, 2024 on the application.
DeleteThanks Scott. We added the deadline to the article (April 15).
DeleteDoes the rate at ($.12-$.13) include surcharges in the rate? For example, my Reliant is $.135 cents w/ an additional surcharge to oncore of $.0565 bringing my total rate to more than $.185. Or can you guide me to someone that can answer this question?
ReplyDeleteSupply rates (e.g. TXU) today for our size contract are about 6¢ - 7¢. The TDSP (i.e., Oncor) power charge is about 4.5¢ today. These two charges (plus some taxes, etc) are what makes up the out-of-pocket cost. Our actual price will depend on how many owners participant and the day we lock in.
DeleteI spoke to our electricity broker. The Oncor delivery charge is included in the new contract rate being offered. Hope that answers your question. ~ Sarah
DeleteI signed up!
ReplyDeleteI renewed.
ReplyDeleteJust curious…what is our current rate?
ReplyDeleteI have been pleased with current charges.
Wondering if current existing rate is lower?
The current rate is 9¢. When the contract expires in September it will automatically revert to a month to month price. The current month to month price is 19.7¢. It changers monthly.
DeleteSigned up!
ReplyDeleteI guess the monthly assessment with vary with the charges for electric?
ReplyDeleteThere will be a line item added to your ledger each month for electricity. Condo Cafe can be set up to read the amount due and adjust the payment each month to cover the expense.
Delete
ReplyDeleteAs a renter how would I go about taking advantage of this opportunity?
As a renter, you would need the owner to sign up, the charges would hit his HOA account, and he would then need to bill you each month for electricity. The owner';s lawyer may want him to modify the lease. All in all, administration might outweigh the savings. If you want to pursue, I would start by talking to the owner.
DeleteEnergy Ogre confirmed that switching to a coop system typically waives the early term
ReplyDeletefee. Excited to be on the new contract either way!
I received an email saying my enrollment was received. Will there be a master list before 4/15 to confirm we are all enrolled? (Just as checks and balance). Thanks.
ReplyDeleteThe following homes (51% of those eligible) are on currently the bid solicitation: 5002, 5004, 5014, 5024, 5028, 5026, 5032, 5034, 5046, 5048, 5052, 5054, 5058, 5062, 5070, 5072, 5074, 5076, 5084, 5086, 5088, 5092, 5100, 5104, 5106, 5108, 5110, 5114 , 5120, 5124, 5126, 5132, 5138, 5140, 5144, 5156, 5170
DeleteHello, I just signed up as well. Is there a way to confirm this? Thanks!
DeleteI just signed up as well.
DeleteI am very interested, I want to know what options are for gap between my current contract expiration and new contract
ReplyDeleteYou should choose "month to month" or a plan with no cancellation penalty. The application you submitted will need to be redone with approval for Oncor to report your total electricity usage to the bidders.We can't add you to the bid until you provide that statement. Thanks!
DeleteCan you confirm that I am on the group electric list. Has the group electric contract been locked in yet? My current contract expires August 4. When does the group electric begin? Thank you ,
ReplyDeleteQ: Can you confirm that I am on the group electric list.
DeleteA: 5110 is on the pending contract list.
Q: Has the group electric contract been locked in yet?
A: Should have this info in 2 weeks
Q: My current contract expires August 4. When does the group electric begin?
A: Mid -September
Did our home at 17304 Club Hill Lane also get included in this? We signed up for both 5156 Westgrove and our main home.
ReplyDeleteUnfortunately no. We are told that we are limited to meters located on the lot.
DeleteWhen will we know what the new rate is?
ReplyDeleteThe new contract rate is just in. 12.9¢ for five years with IronHorse Power Services (headquartered at 5340 Alpha Rd )
Delete