The Texas Senate passed Bill 373 in 1995, which outlined important changes that affected the Electric Reliability Council of Texas (ERCOT). This organization is responsible for managing the flow of electricity to customers. The bill required ERCOT to enforce several changes that moved the state toward deregulation. The utilities were now required to give access to transmission capabilities, acknowledge unregulated entities in the wholesale market, and deregulate rates previously regulated by the Public Utility Commission of Texas.
In 1999, Senate Bill 7 was passed, which forced ERCOT to create competition within the retail electricity industry…Deregulation! The driving force behind Senate Bill 7 was the concept of Price to Beat. SB7 went into effect in 2002 allowing all consumers to shop around for their energy supplier (electric choice).
Ananta acquired its energy brokering license for Texas in 2019 and has relationships with 8 energy suppliers and manages over 15 assets.