Overview of Residential Aggregated Green Power
By joining one of Momentum Bay’s residential electricity aggregations, your household will be able to save up to 30% relative to Retail Electric Providers’ (REPs) direct offers for conventional or renewable electricity.
To join, simply download, fill in, and fax and/or mail to us two forms found below (the Limited Power of Attorney for ONLY Electricity, which expires within 3 months) and the industry-standard, no-obligation-to-switch Letter of Authorization. Also, please fax or mail us your most recent residential electricity bill.
Once an aggregation (or buying group) reaches roughly 200 households, we close that group & receive indicative (not “transactional”) prices from various REPs. We’ll communicate to the group a range of prices per kWh that responding REPs indicate as reasonable. Of course, markets may vary widely on a daily basis (just like the stock markets). The fixed price per kWh for two years will likely be higher than rates currently available for shorter term products on www.powertochoose.com because the longer term means more risk & slightly higher prices.
We’ll continue to watch the natural gas & electricity markets for favorable times to buy. When markets seem fair & opportune, we’ll receive transactional quotes from REPs. We will negotiate for our customers with a select group of REPs for the best, fixed, 24-month, group rate. These prices are good for only the same business day. That’s why aggregation members have to assign Limited Power of Attorney for ONLY Electricity to us. At our discretion, with our customers’ best interests in mind, we will purchase everyone’s renewable electricity on the right day at the right time. (Note: We assess which REP will win an aggregation contract on the basis of several critera, such as, lowest cost, customer service, as well as each REPs overall commitment to sustainability beyond just their electricity products.)
Once we award the contract to the winning REP, you will be notified of the successful purchase. After the next meter read, your electricity bill will come directly to you from from the winning REP. You’ll interact with the winning REP just like you do your existing Retail Electric Provider. However, we still work for you, so you should feel free to call us to help you resolve any customer service problems that your REP doesn’t resolve in a fair, professional manner.
Since we work for you, a small fraction of the amount you pay monthly to the REP will be forwarded by the REP to our firm as a commission. Unlike nearly all other brokers & aggregators, we are happy to disclose to customers our significantly discounted commissions, which can be less than 1/10th of 1% of your entire bill). Please call us to request this information.
