IGS Energy Buyer Beware Nationwide

the previous post is another prime example of an IGS Energy employee blaming the consumer for getting ripped off by a dishonest retail commodities broker masquerading as a natural gas supplier.

I would like to give some of my background on IGS from my view as a consumer.

I signed a fixed supply rate with IGS for 12 months that covered 4-08 through 4-09 I can tell you the I signed up for a fixed rate of $7.15 per MCF.  My utility supplier (consumers) rates from those time periods ranged from a high of 9.6872 per MCF to a low of 7.30 MCF.  I can say without regret that IGS has saved me money in the past and I have just signed up for a new fixed contract of 6.90 MCF through April 2010, the current rate through consumers is 7.3953 and rising.  Bottom line is companies are out to make money the consumer needs to be informed to make good decisions.  If I make a bad decision it is not IGS' fault it is mine and mine alone.  Just my 2 cents:)

that was a  very slick way of trying to blame the consumer for a rate you knew was outrageous.

just stay away from any natural gas suppliers,especially IGS Energy.

these people are simply parasites on society

The problem that this consumer faces is not a scam but rather the fact that he locked into a fixed rate when natural gas prices were high, and prices have since dropped by approximately 80%. When a consumer signs up for a fixed rate contract, the natural gas supplier, such as IGS, purchases the gas immediately to supply the gas for the term of the contract. Therefore, when a consumer locks into a fixed rate, and the price of gas drops, the supplier makes no extra money because the gas has already been purchased.

The reason why this persons fixed rates were higher than the utilities is because a utility offers a variable rate that is tied to the price of natural gas. So after the gentlemen above locked in his fixed rate the natural gas prices dropped and so did the utilities variable rate. Many of the problems disussed in the Columbus Dispatch article above were a result of customers locking in fixed rate contracts when natural gas was at an all time high. Again, while a customer may have paid higher rates than the utilities variable rates, after the price of natural gas had dropped, natural gas suppliers made no money on these contracts because they purchase all the gas for the term of the contract when the customer locks in the fixed rate

Gas suppliers also offer variable rates for gas. In fact, IGS offers in some utility service territories variable rates that are guaranteed savings below the utility. If one finds themselves in a situation where they have locked in a fixed rate contract after natural gas prices drop, often if they call their gas supplier, the gas supplier will waive the cancelation fee and switched them automatically to variable rates.

However, just as locking in fixed rates when natural gas prices are high is bad, locking in fixed rates when gas prices are low is good. Now, natural gas prices are the lowest they have been in 8 years. This is opposed to last summer where gas prices were at an all time high. It may make sense to lock into a fixed rate now when prices are low and not face higher rates if the gas prices go up. However, one always has the option of staying on the variable rates if they like. That is the beauty of natural gas choice. Customers are not force to recieve their natural gas supply from one utility supplier at one fixed rate. If one shops around and looks for the cheapest natural gas supplier, they can almost always get a rate below the utilities rate.

For accurate information about IGS Energy and Natural Gas Choice please see my blog at:

http://igsenergynaturalgaschoice.blogspot.com/

check out the March 3 Columbus Dispatch,also monday and tuesday paper.

http://www.columbusdispatch.com/live/content/local_news/stories/2009/05/03/gas_main1__new_.ART_ART_05-03-09_A1_HADNK51.html?sid=101

Dan Gearino is doing a multi faceted story on IGS Energy and the whole business of the "customer choice program". the story shows that in the last 8 years,IGS Energy,and other gas suppliers' prices were higher than what you could get through your utiilty.

it is,simply put,a scam.

i feel your pain,and you are not alone.

did you notice if the rep from IGS Energy could not guarantee you any savings?


there was a big spike in natural gas prices last summer because of a hurricane going through the gulf of mexico.it did no damage and didnt disrupt the flow of natural gas,so rates dropped back down in sept. 2008

by the way,your rate never went to $1.85 last year,it peaked at $1.73 in august.

youre probably talking about your total rate including fees and taxes,and that is another way IGS Energy fools people.they compare their base rate to your total rate.

your rate in sept 2008 was only 93 cents,and went all the way down 78 cents by december 2008

gas suppliers like IGS Energy proceeded to clean up last summer,by calling nipsco and nicor customers,and telling them gas rates were going up,when they were actually going back down.

IGS Energy is staying far far away from Indiana and Illinois right now because theyve ripped so many people off last summer.

right now,IGS Energy is pushing a 3 cent discount on your gas rate,but they fail to mention the additional fees and taxes you have to pay by chooosing a supplier on your gas service.

AS FOR THE 2 MONTH CANCELLATION PERIOD,THAT'S HOGWASH.THEY ARE JUST CRACKING YOU FOR 2 MONTHS.

it's easy to get away from IGS Energy.either go past due on your bill one month,or change the name on your gas service.

either one will knock any supplier off of your gas bill immediately.

in the next couple of years,the choice program that gives you a choice where your gas utility obtains your gas from will be exposed as a huge fraud,and these parasites will be shut down.