Frequently Asked QuestionsFAQ
What is energy deregulation?
Deregulation of U.S. energy markets first occurred in the 1982 with Natural Gas, followed by Electric markets in the late 1990s. This made it possible for retail energy companies to compete for your business, breaking up the regulated utility monopolies.
For the consumer, deregulation means the Supply portion of energy service will be open to competition. However, the transmission and distribution of the energy will remain regulated and your local utility company will continue to maintain the pipes and wires, issue your bill and provide customer services. It is the electric/gas supply, or commodity, that is deregulated, meaning customers have the opportunity to shop around for the provider that fits their needs.
The competitive market for electricity means that you have a variety of choices for your energy supply provider, and the products they offer. As competition has increased, so too have the choices available to customers for managing their energy budgets.
How do I know if I am in a deregulated market?
State Public Service Commissions and City-owned utilities and electric cooperatives individually determine if they will open their jurisdiction up for competition. To find out if APPROVED ENERGY services your area, check our Markets Served in the About Us tab.
How do I enroll for service with APPROVED ENERGY?
Contact our Customer Care Team at 1-833-256-3637 and they will be happy to assist with your enrollment.
Is there a chance I will lose power when I switch to APPROVED ENERGY?
No, there will be no interruption of service if you switch to APPROVED ENERGY.
How long does the switch take?
The time required to switch over from Utility service to APPROVED ENERGY varies by market. A typical switch takes up to14 business days, although it can take up to two full billing cycles. You will still get at least one more bill from your current provider. This timeframe is standard with all Retail Electric Providers.
Will you check my credit when I enroll?
Yes, APPROVED ENERGY will perform a credit check to determine if a deposit is required. If applying on-line and a deposit is required, you will be notified via the email address provided.
How will I billed?
If your payment does not post by the due date, you likely will be sent a reminder notice if eligible. If payment becomes overdue, a late payment notice will be sent to you and you will have 10 days to process payment, otherwise the account will be subject to disconnection for non-payment (subject to local laws as well as a bill from your utility for Delivery charges.)
What happens when my contract period expires?
You have the choice to enter into another fixed energy rate contract at current rates, or the account will go into month-to-month status with the current variable rate. We will attempt to send you a notice reminding you to renew but be assured that your service will not be automatically terminated simply because your contract period expires.
Is there a penalty if I break the contract?
If you close the account or switch suppliers prior to completion of a Fixed-term contract, you may be subject to an early termination fee. The cancellation fees can be found on the Terms of Service and Energy Facts Label (EFL) for your particular product. Please see your Terms of Service for additional details.
How much is the late fee, if I am late?
You have the option to receive a single bill from your utility company that includes Approved Energy supply charges. You can also receive a separate bill from Approved for our portion of your energy costs. Late fees will be assessed at 1.5% of the outstanding balance, or the State maximum %.
What happens if I have an emergency or power outage?
Contacting your Local Distribution Company is the fastest way to get a response for an emergency or power outage situation. Your LDC is responsible for the maintenance and repair of the equipment at your service location. Please check your bill for the LDC emergency phone numbers, or visit the “Emergency Contacts” section of our website.