In the early stages of this deregulated retail market....the first five or six years....it was important to research the new players extensively. Most were new startup companies with no history of operations. Things are different now.
Then, we needed to examine business organization, financial strength and stability, qualifications and experience of key executives, business philosophy, and customer service policies. Although this was done, some failed and had to withdraw from the market. Customers of those failed providers did suffer penalties at the time.
Today, we have less concerns about these matters. A REP is a REP. Financial qualifications for obtaining their license has been strengthened. A new watchdog division was created at the PUCT to oversee and enforce compliance with the rules and regulations. Complaints are processed expeditiously. The POLR provisions have been revised to enact more customer protections. Switches now take place in 5 to 7 business days.
Recognize a REP is mostly a 'bill sender' like your credit card company. Pay your bill and things go smooth. Although not guaranteed, it is less likely today to be the victim of a business failure that would impose severe penalties.
I say set aside most concerns about which REP is best in terms of the factors discussed above, except for customer service, and go with those offering the most competitive rate prices.
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