Posted by Troy Donovan
on 10/11/2013 at 9:06 PM
It’s great to see Texans taking an active role in selecting the best electric plan for their home or business. But we’ve seen some folks jumping the gun and switching too soon, which is usually a costly mistake. If you break your contract before its expiration, you may have to pay a ‘cancellation’ or an ‘early termination’ fee. An alternative is asking the involved companies to cancel or reverse your switch, but that, too, has a high cost: time and effort from you and them. Best bet is to know ahead of time the precise date when you’re free to shop. Texas rules give you 14 days prior to contract expiration to switch without penalty.
Know your date
Your contract expiration date is supposed to be shown on your monthly bill, whether it’s a paper or electronic version. If you’ve set up a personal account on your electric company’s website, you may find it in your online account details.
Check your mailbox or inbox. Maybe answer your phone.
No more than 60 days prior to your end date, the company is required to give written notice (mail or email) letting you know when it expires and on what plan and price they’ll place you if you take no renewal action. Some companies take the additional step of reminding you by phone.
If you’re the proactive type, then perhaps you already have alerts set on your phone or calendar. If so, you’re ahead of the game. Now, take an extra step and create a TrueCost account, go to your My Account page and set a reminder there. Whenever you enroll in a plan through TrueCost we know your expiration date and will email you advanced renewal reminders.
If you’re still in doubt, contact your electric company.
Their website should give you the ability to contact them by email or instant chat. Their customer service number should be listed there, too. Having your account number helps them quickly locate your account.