May 28, 2020   SOURCE: BusinessWire

Bulb Freezes Summer Energy Rate and Lowers Price

Bulb, a new energy company in Texas, is freezing its rate for the summer. Offering a price lock on a variable rate is an unusual move and one that most Texans have likely not experienced. For people looking for the flexibility of a month-to-month contract with the price certainty of a fixed term contract during the summer, when energy prices typically soar, Bulb’s offer is unique.

35% of Texas’s annual electricity is used during June, July and August when temperatures are at their highest. As a result, wholesale energy prices reach their peak during these months. For Bulb members, their rate will freeze before that happens. Bulb’s summer rate freeze helps Texans avoid having to relive last summer’s energy spikes when prices hit the $9,000/MWh price cap.

“Freezing our summer rate offers an additional benefit—peace of mind,” said Vinnie Campo, Country Manager, U.S. “We want Texans to head into summer knowing their electricity bills aren’t going on a rollercoaster.”

Since January, wholesale prices have fallen by 9.5%, so Bulb is passing those savings on to its members. As a result, the average Bulb home in Houston will save an additional $89 per year, bringing total savings to $542 compared to the standard plans offered by Green Mountain, TXU and Reliant. The average Bulb home in Dallas will save an additional $36 per year, bringing total savings to $515 compared to those same standard plans.

Bulb is able to keep costs down by investing in technology and working with companies that do the same. Clear communication with members and education about energy usage also contributes to Bulb’s ability to operate efficiently.

“We’re proud to offer Texans access to affordable, renewable energy,” Campo said. “Now more than ever, Texans are looking for green energy options. We applaud the City of Houston on its plan to be 100% powered by renewables, and we look forward to strengthening Texas’s reputation as the undisputed leader of the energy industry.”

Bulb is also supporting the Texas community by continuing its “Energy for the frontline” offer, which gives every essential worker in Texas $100 when they sign up and $10 to Feeding Texas, a hunger-relief organization with 21 food banks across the state. To learn more about Bulb’s special offers, visit https://frontline.bulb.com/.

About Bulb
Bulb is a new type of energy company that aims to make energy simpler, cheaper and greener. Bulb provides 100% renewable electricity to its members from 100% Texas wind and solar and is a certified B Corp. The company has no annual contracts or cancellation fees, and currently supplies energy to over 1.6 million homes and businesses worldwide. On average, Bulb members save $542 a year on their energy compared to other major providers. Information for those interested in switching to Bulb may be found at https://bulb.com/.