Liberty Power — Beware
Liberty Power is an independent Electricity Supplier, serving the needs of tens of thousands of business customers in 12 states across the country where there is a choice of energy suppliers. This national coverage provides our customers with the benefits of a strong purchasing team and expertise in understanding the needs of a large base of business customers.
We are proud to help customers control their electricity rates by offering fixed rate plans that remove the volatility inherent in the energy market and protect customers from unexpected and unbudgeted electricity costs. In fact, electricity is the most volatile of all commodities – with market rates changing every second of the day. When electricity suppliers offer a fixed rate, it is based on market prices at a particular point in time. In order to guarantee the price for the contract term, suppliers pre- purchase the energy required by the account for the full term. In mitigating the risk of a market that can swing up and down constantly, Liberty Power helps business customers continue to do what they do best – serve their customers.
When we pre-purchase electricity, we make a commitment to the customer for the electricity they need for the term of their agreement, which is generally 1 to 3 years. If the customer chooses to end the agreement before the end of the term, there may be a fee for early termination. This will depend on when the customer exits the agreement, market prices at that point in time and whether Liberty Power incurs losses from that termination.
For more information on the volatility of the energy market, please see http://www.eia.doe.gov/emeu/steo/pub/
We hope this clarifies the concern for this issue. We are happy to answer any additional questions regarding early terminations. Please feel free to contact Liberty Power Customer Care at 1-866-POWER-[protected]).