IDT Energy Investigation
Did you sign up to get your utilities or energy provided by IDT Energy? If so, you may be entitled to a complaint for money in a class action lawsuit. Call 817-455-6822 or fill out the form on this page. IDT complaints are numerous online.
Our attorneys are investigating whether IDT Energy complaints are true that IDT charged customers more than it promised it would. IDT Energy advertised that it could save consumers money on their utility bills compared to their standard utility provider. IDT Energy advertised it could do this by charging a variable rate that would be tied to the market rate. But many consumers have complained that IDT Energy raised consumers’ prices when the market rate went up, but did not drop consumers’ prices when the market rate went down. As a result, our attorneys are investigating whether IDT Energy overcharged its customers.
If you signed up for gas or electricity with IDT Energy or any other energy savings company and you would like to contact an attorney, then please call 817-455-6822 or fill out the form on this page.
IDT Energy Complaints
IDT is headquartered in Newark, New Jersey and reportedly has annual revenues over $200 million. IDT operates in six states, including New Jersey, Pennsylvania, New York, Maryland, Illinois and Washington D.C. IDT has reportedly been under investigation in Pennsylvania by the authorities that regulate power companies for a wide variety of complaints.
The attorney general and Office of Consumer Advocate filed a complaint last year with the state Public Utility Commission alleging IDT misled customers and charged variable-rate prices that did not conform with its disclosure statement. The complaint led to more than $6.4 million in refunds to customers the company had overcharged. IDT was founded in 2004 and was one of several energy providers in Pennsylvania that was investigated by authorities in 2014 and 2015.
Energy Rates and Deregulation
Energy deregulation is the reason that you can shop for an energy provider and make a choice who will sell it to you. It gives you the power to change your electricity or gas company and so it affects how much you will pay for your bottom line utility expenses.
Many years ago, states started to deregulate the energy providers to provide energy and possibly lower rates to the public, or end users. While large conglomerate energy companies used to control most large energy markets, as well as some governmental entities, that all changed with deregulation. So now end users of gas and electricity can buy energy from companies who are middle companies, between the end user and the energy producers.
This frequently allows the middle companies, or brokers, like IDT, to earn a lot of money at the end users cost.
Several states have become deregulated markets over the last 20 years, largely in the Northeast, Mid-Atlantic, and Texas. Other states, such as California, are partially deregulated or have had deregulation suspended.
Deregulated markets have what are called grid operators that control wholesale markets to make sure there are reliable sources of energy and prevent blackouts. Multiple retail suppliers (or load serving entities, known as LSEs) buy generation and sell electricity to end-users.