Detailed Explanation
Here’s the simple, six-step process to start saving money on your household electricity:
1. Notarized* Limited Power of Attorney for ONLY Electricity (also referred to as an LPA-e)
This form is the most important in the process, since we cannot negotiate on your behalf without it. However, the LPA-e is typically the most intimidating part for customers since “Power of Attorney” seems to carry wide-reaching legal meaning. However, this Power of Attorney is limited to ONLY electricity AND it expires.An LPA-e simply appoints Momentum Bay as each customers’ exclusive agent regarding ONLY electricity for ONLY a limited time period. We require an LPA-e because our suppliers require us to have the delegated authority to negotiate exclusively on customers’ behalf. Here’s why:
First, electricity markets fluctuate dramatically daily, so electricity quotes from our suppliers expire daily. An LPA-e allows us to execute electricity purchases for every group member within one business day. Otherwise, in one business day, we would have to negotiate a price, contact every member of the aggregation for approval, receive every member’s signature, and execute a purchase. If even one member didn’t respond or chose not to participate, the entire deal would have to be re-priced.
Second, wasted time equals higher prices for potential customers, our Retail Electric Provider (REP) partners, & ourselves. We are able to keep our commissions extremely low relative to other brokers (often 40% to 80% less) by avoiding situations where clients may have multiple brokers and/or aggregators negotiating with the same set of Retail Electricity Providers. For example, our suppliers invest substantial time for each aggreation verifying each customer’s credit, uploading each customer’s usage, & preparing a bid specifically for that aggregation’s load profile. Bids are good only for that entire load profile (that is, if one household were to withdraw, the quoted price would no longer be valid).
Third, we prefer to have ‘patrons’ and ‘clients’ who value our honesty, relationship, service & value rather than ‘customers’ who may value only our low prices. So, unlike most brokers & aggregators, we are transparent & disclose our commissions. We believe that this commitment to transparency testifies to our integrity & our intent to demystify a complex industry & decision-making process.
- You can usually find a Notary Public at your bank or workplace.
2. Copy of Most Recent Electricity Bill
We ask that you submit a copy of your most recent electricity bill. The bill helps us verify the name, service address & 21-digit Electric Service Identifier (ESI ID) on the bill. Copy these three items onto the Letter of Authorization (step #4). And, your bill helps us quantify how much you will save.
3. Letter of Authorization (also referred to as an LOA)
Customer completes, prints, signs & faxes or mails an LOA. Momentum Bay requests your usage by submitting your LOA to your Transmission & Distribution Utility (TDU; e.g., CenterPoint Energy).
4. TDU Emails Usage
TDU emails each meter’s 12-month usage & load profile data to Momentum Bay as an Excel workbook.
Momentum Bay combines this confidential data into a master workbook for negotiation with Retail Electric Providers (REPs).
5. Financial eligibility
REP performs customer’s Credit Check (typically simply a utility credit check, rather than a full credit check).
6. Aggregated Purchase
Aggregator negotiates bulk discount with REP. REP executes purchase of 100% green electricity on customers’ behalf without taking title to electricity, and Aggregator signs all purchase agreements in one business day. The group’s final discounted price (or, rate per kWh) will depend on many factors, e.g., our group’s load size & profile, length of contract, contract start date, market conditions that day, etc. Customers will receive their monthly bills from the winning REP, but continue to receive customer service advocacy through Momentum Bay.
We look forward to
helping your household
save money & go green.
Added Bonus
As a green power 4 Texas customer, you & your family receive our largest discount on our GREEN [BOOT CAMP] for Households course. And, if you’re an executive or other leader in a Texan organization & you’d like to learn how your organization can go green profitably & practically, you may want to consider attending our ECO [BOOT CAMP] course or other consulting services.
Thank you for striving for
a healthy, sustainable Texas.
