Due to changes to the regulations governing New York's retail electricity sector, Independent Energy Advisors will no longer be able to market Think Energy's retail electricity products to New York residents as of Wednesday, July 31, 2024.
These changes, listed in the Public Service Commission's Uniform Business Practices, include significant financial and registration requirements on those seeking to market retail electricity products and stringent changes to operational processes, making retail electricity an unrealistic product offer for Think+ in New York. We understand that you may have questions, and will do our best to answer them here.
Q: When it comes time for renewals, what's the process?
A: It’s the same process as what exists now: We can’t automatically renew retail electricity contracts in New York because we need express consent from the customer to enter into a new contract but, prior to their renewal date, the customer will be sent the proper notices along with renewal options. If they don’t choose a new contract, they’ll be dropped back to the utility.
Q: If customer who enrolled prior to July 31 can’t renew, then do they:
- Just fall off electric when the term is done? A: See above for the renewal process.
- Lose Free Energy? A: No -- as long as a customer remains active, they’ll have access to the Free Energy Club.
Q: Will EAs lose points then as well?
A: For customers whose contracts terminate after the July 31 deadline, EAs will lose points after the contract terminates because:
- If the customer drops back to the utility, they’ll no longer be a customer.
- Even if a customer renews onto a new contract, the EA is not allowed to receive any kind of compensation – which is defined very broadly by the new law to include items other than just cash compensation – for the customer who enrolls onto a new contract.
Q. If Think Energy can renew the Energy Advisor’s customer, can Think continue to pay commissions on that since the customer was enrolled prior to the deadline.
A. No, the new law is clear about this: EAs can receive commissions throughout the term of any contract that they enroll for a customer prior to the July 31 deadline.
For example, if an EA enrolls a customer on a 3-year contract on July 30, that EA can receive commissions on that contract for the entire 3-year contract. But, EAs are not permitted to receive any compensation for contracts entered into after the July 31 deadline (even if that is a renewal contract for a customer they initially enrolled).
Q. Can New York customers still take part in the FEC?
A. As long as a customer remains active, they’ll have access to the Free Energy Club and can refer other customers to Think Energy and use them for referral rebates.
Q. Could the Co-Pilot program be a loophole and enable Think+ to market products?
A. No, the initial marketing would still be done by the EA after July 31, and that is among the prohibited activities.
