Unhedged. …oooops.

Clean Currents

What happens when you sell your customers power at a fixed price, and you buy your power at a floating price? A local DC green electricity marketer, Clean-Currents, found out as last month’s frigid temperatures sent wholesale power prices rocketing. It’s now out of business, and the customers who had those contracts are…back on the market either getting their power from the incumbent utility or looking for a fresh deal.

Clean-Currents sent this message to customers:

Dear Customers:

We are writing to inform you, with deep regret, that the recent extreme weather, which sent the wholesale electricity market into unchartered territories, has fatally compromised our ability to continue to serve customers.

We are extremely saddened to share this news with you.

What does this mean for you?

All Clean Currents’ customers will be returned to their utility service, effective immediately. You should see this change in service on your next bill, or the bill after that, dependent on your meter read cycle. If you so choose, you are able to switch to another third party electricity supplier, effective immediately. Clean Currents waives any advanced notice requirement or early termination fee provisions in our contracts.

Please contact your utility if you have any questions about your change in service:  …

We are deeply grateful that you chose to be a Clean Currents customer. It has been a pleasure to serve you. We hope you will still choose renewable energy for your home or business.Sincerely,

Gary Skulnik & Charles Segerman, Clean Currents Co-Founders

 

 

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