Reduce Your Rate FAQ: What Is It and How Does It Work?

What is Reduce Your Rate?

What is Reduce Your Rate?

Reduce Your Rate is a benefit of the BKV Energy Plus membership program. With the Reduce Your Rate benefit, customers may receive offers to switch to a new electricity plan with a cheaper Energy Charge (the cents per kWh price paid to BKV Energy as defined on an Electricity Facts Label).

How does Reduce Your Rate work?

Electricity providers like BKV Energy purchase wholesale electricity from Texas electricity generators (such as natural gas electricity plans, wind farms, solar farms, and hydroelectric dams) and sell it to residential customers.

When you sign up for an electricity plan, the Energy Charge on your Electricity Facts Label is tied to the wholesale market cost of electricity at the time you signed up.

The wholesale market cost of electricity is constantly changing due to factors like supply, demand, weather and seasonality, and fuel prices (like the cost of natural gas).

At BKV Energy, we keep close tabs on the wholesale market cost of electricity, and when it drops, we are able to proactively offer eligible customers a decreased Energy Charge.

Here’s how it works:

1. You sign up for a Bluebonnet plan, Indigo plan, or a different plan with BKV Energy Plus monthly add-on subscription
2. We monitor changes to the wholesale electricity market
3. When wholesale prices drop, we notify you with a Reduce Your Rate offer
4. You either choose to accept or reject the Reduce Your Rate offer
5. If you choose to accept the Reduce Your Rate offer, your current electricity plan is terminated and you switch to a new plan with a cheaper Energy Charge
6. You incur no costs, penalties, or fees for accepting a Reduce Your Rate offer—you simply pay less per kWh going forward

What makes Reduce Your Rate so unique?

Most Texas electricity providers will not proactively seek to offer their customers a lower rate when wholesale market electricity prices decrease. It is rare for an electricity provider to offer such a benefit.

Who is eligible for Reduce Your Rate?

Who is eligible for Reduce Your Rate?

BKV Energy Plus subscribers are eligible to receive Reduce Your Rate offers. There are two ways to subscribe to BKV Energy Plus:

1. Subscribe by enrolling in any Bluebonnet or Bluebonnet Green plan
2. Subscribe by enrolling in any Daisy, Verbena, or Lantana plan with the BKV Energy Plus monthly add-on

Additionally, to be eligible to receive Reduce Your Rate offers, your account must be in good standing (i.e. you must not have any overdue bill balances on your account).

Finally, you are eligible to receive Reduce Your Rate offers after three consecutive months of service. Three months after accepting a Reduce Your Rate offer, you are eligible to receive further offers.

Indigo plan customers are also eligible for Reduce Your Rate, but they do not receive other BKV Energy Plus benefits.

Do I need to be on a specific plan to receive Reduce Your Rate offers?

To receive Reduce Your Rate offers, you must enroll in a Bluebonnet or Bluebonnet Green plan, Indigo plan, or you must pay the BKV Energy Plus monthly add-on with a Daisy, Verbena, or Lantana plan.

How long do I have to be a customer before I begin receiving Reduce Your Rate offers?

You must be a customer for three consecutive months before you begin to receive Reduce Your Rate offers.

Can I receive Reduce Your Rate offers if I’m on a month-to-month plan?

No, customers on BKV Energy’s month-to-month plan are not eligible for BKV Energy Plus membership, and thus, are not eligible to receive Reduce Your Rate offers.

When and how can I use Reduce Your Rate?

When is Reduce Your Rate available?

Reduce Your Rate offers occur when wholesale market electricity prices drop below the rate at which they were when you originally signed up for a BKV Energy electricity plan and subscribed to BKV Energy Plus.

We are not able to predict when or guarantee that wholesale market electricity prices will drop. As a result, there is no guarantee that you will receive a Reduce Your Rate offer.

How will I know if I qualify for a lower rate?

We will notify you via email and/or text message when Reduce Your Rate offers are available.

Will BKV Energy notify me if rates drop?

Yes, we will send you an email and/or text message to notify you when your account is eligible for a Reduce Your Rate offer.

Do I have to monitor the market myself?

No, you do not have to monitor the wholesale electricity market. We track the market on a daily basis and will notify you when Reduce Your Rate offer opportunities arise.

How much can I save?

How much can I expect to save when accepting a Reduce Your Rate offer?

Reduce Your Rate savings will vary by customer because the potential decrease in Energy Charge (cents per kWh) will vary by contract.

How does Reduce Your Rate impact my contract and plan?

Will I be starting a new contract after I accept a Reduce Your Rate offer?

Yes, when you accept a Reduce Your Rate offer, your current contract is terminated, and you begin a new contract with a decreased Energy Charge.

Does my contract term reset when I accept a Reduce Your Rate offer?

Yes, your contract term length resets when you accept a Reduce Your Rate offer. For example, you may receive a Reduce Your Rate offer in the sixth month of your current contract. When you accept the Reduce Your Rate offer, you start over at the first month of the new contract term.

Will I lose any benefits from my current plan if I accept a Reduce Your Rate offer?

No, you do not lose any benefits of BKV Energy Plus by accepting a Reduce Your Rate offer.

Does Reduce Your Rate affect my ElectroShare payout or any other loyalty benefits?

No, your ElectroShare loyalty payout is not affected by accepting a Reduce Your Rate offer. ElectroShare payouts are tied to your consecutive months of BKV Energy Plus membership, not to a specific plan or contract. Your VoltPoints are also unaffected by accepting a Reduce Your Rate offer.

How do I accept a Reduce Your Rate offer?

How will I be notified when a lower rate is available?

We will notify you via email and/or text message when you are eligible for a Reduce Your Rate offer.

Is there a deadline to accept the Reduce Your Rate offer once it’s extended?

Yes, a deadline to accept the Reduce Your Rate offer will be specified in the email notification.

Are there costs associated with Reduce Your Rate?

Is there a fee to use Reduce Your Rate?

If you are enrolled in a Bluebonnet or Bluebonnet Green plan, there is no fee to use or accept Reduce Your Rate offers. If you are enrolled in a Daisy, Verbena, or Lantana plan, you must pay the BKV Energy Plus monthly add-on subscription fee to maintain access to the Reduce Your Rate benefit.

Will I be charged a cancellation fee?

There are no cancellation or termination fees charged when accepting a Reduce Your Rate offer.

Are there any hidden fees or costs involved?

No, there are no hidden fees or costs associated with Reduce Your Rate. The only costs associated with BKV Energy Plus or Reduce Your Rate are your regular monthly electricity bills and the BKV Energy Plus monthly add-on subscription fee if you are enrolled in a Daisy, Verbena, or Lantana plan.

Rate comparison and transparency

Can I see a comparison between my current rate and the new rate?

Yes, you can see a comparison between your current rate and the new rate from the Reduce Your Rate offer. In the email notification, both rates will be clearly labeled and identified so you can easily see the potential decrease in Energy Charge (cents per kWh).

Is the new rate fixed or variable?

The new plan from the Reduce Your Rate offer will be a fixed rate plan, not a variable rate plan.

Reduce Your Rate offer frequency and limitations

How often can I reduce my rate?

We run the numbers for Reduce Your Rate once per month. If the market has changed in such a way that by extending you a Reduce Your Rate offer we can both lower your rate and maintain positive revenue on your account, we will extend you a Reduce Your Rate offer.

After starting service, you are eligible to begin receiving Reduce Your Rate offers after three consecutive months of service. After accepting a Reduce Your Rate offer, you are eligible to begin receiving offers again after three months.

Wholesale electricity prices fluctuate due to a number of factors, including weather, natural gas prices, politics, and more. As such, we cannot guarantee how many Reduce Your Rate offers you will receive, if any. A realistic estimate may be 1-2 Reduce Your Rate offers every 12 months.

Can I accept Reduce Your Rate offers more than once?

Yes. There is technically no limit to how many Reduce Your Rate offers you can accept, but it is all dependent on changes to wholesale market electricity prices.

Is there a limit to how much my rate can decrease?

Rate decreases are limited by changes to wholesale electricity market prices and BKV Energy’s operating margins. We are not able to sell electricity to our customers at a loss.

Real examples of Reduce Your Rate offers

Can you share examples of real Reduce Your Rate offers?

Yes! Here’s the full history of Reduce Your Rate offers we’ve extended to our customers.

Reduce Your Rate troubleshooting and support

What if I don’t want to accept a Reduce Your Rate offer? Or what if I miss one?

Reduce Your Rate offers are always optional. To accept an offer, just follow the instructions in the notification before it expires.

If you don’t want it, you don’t need to anything. Offers that aren’t accepted by the deadline simply expire, and your current rate stays the same.

Because there’s no “decline” button, you can’t turn down an offer by accident. The only way to miss one is to let the deadline pass without accepting it. If that happens, the offer can’t be reinstated, but you’ll still be eligible for future Reduce Your Rate offers as they become available.

Who can I contact if I have questions about Reduce Your Rate offers?

If you have questions about the Reduce Your Rate benefit in general, or about specific Reduce Your Rate offers you’ve received, please contact our customer support team.

I didn’t get a Reduce Your Rate notification, but I think I should have. What do I do?

If you think you may have missed a Reduce Your Rate notification or accidentally deleted the email notification, please contact our customer support team.

Reduce Your Rate Terms and Conditions

View the terms and conditions for Reduce Your Rate.

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