Electricity deregulation in Texas opened the biggest new market for competitive electricity rates in the country, and a number of major retail electricity providers have grown out of the state. One of the more successful of these electricity suppliers is TriEagle Energy.
About The Company
Based just outside of Houston, Texas, TriEagle exemplifies the idea behind electricity deregulation, building itself on the principle of cutting costs as much as possible to bring lower electricity rates. The company describes itself as a “low-cost/high-value” electricity provider, offering a wide variety of different electricity products while emphasizing constant analysis of its own costs.
This strategy has led the electricity company to focus on a limited number of service areas and only relatively recently expanded into Pennsylvania, the next big market for competitive electricity.
TriEagle Energy was founded in 2003, the year after electricity deregulation went into effect in Texas. The company expanded into Pennsylvania in 2011, when the state ended the caps on electricity rates from utility companies.
While TriEagles makes use of everything from natural gas and coal to nuclear power, the company also offers the opportunity to purchase 100 percent renewable electricity, largely coming from wind power. Both Texas and Pennsylvania have seen major growth in wind power in recent years.
TriEagle offers customers a number of lower electricity rates, including fixed prices over the span of anywhere from three months to three years. In addition, the company offers real-time energy rates that fluctuate based on demand at the time of use and so-called heat rates, which are based on natural gas prices. Each of these plans offers different kinds and different levels of risk, but customers can also ask for a combination of the three types of rates.