Market Overview

New Reliant Energy Plan Offers Customers Security and Automatic Rate Reductions

HOUSTON--(BUSINESS WIRE)--

Texas electricity consumers can now get the protection of a secure low rate combined with the added benefit of automatic decreases if energy prices drop. Reliant Energy is introducing a new plan called Reliant Cap-and-SaveSM, the first in Texas that caps customers’ rates when they sign up and automatically reduces their rates no matter how low prices go.

“Our customers have told us they want the security of a term plan and lower rates if energy prices fall. We heard them loud and clear,” said Jason Few, President, Reliant Energy. “Our customers want choices – not just one type of plan. We offer a range of competitively priced plans so that we can work with customers to choose one that’s right for them.”

Reliant announced the new plan at a midday press conference today at Thanksgiving Tower in downtown Dallas. The company also symbolically ‘capped’ fares on Dallas Area Rapid Transit (DART) for the day by giving away free one-day transit passes at 6 DART rail stations during the morning rush-hour.

“We’ve been piloting this plan with customers for several months and the response has been overwhelmingly positive,” said Few. “Since June 15, customers who were on this plan have enjoyed automatic rate reductions thanks to our new plan and lower gas prices.”

Reliant Cap-and-Save is available to all new customers who choose Reliant, and existing customers on month-to-month plans and those whose contracts will end soon.

The automatic rate decreases in this plan are based on the market price of natural gas. When the market price of natural gas declines, customers’ rates are lowered automatically based on the formula in the Reliant Cap-and-Save Electricity Facts Label. The customers’ energy charge will never go above the cap in the contract. Charges from the transmission and distribution companies are passed through to the customer without markup and are reflected in the average price per kilowatt hour. In describing this new plan, the term rate refers to the energy charge or energy portion of the bill. Current pricing for Reliant Cap-and-Save is available on www.reliant.com or by calling 1-866-RELIANT.

Reliant Energy offers customers a range of plans and options including:

  • Secure Plans that offer price security and include 20 percent pure Texas wind at no additional charge.
  • ePlans that offer discounts (or lower prices) when customers sign up for online account management, paperless billing and auto bank draft or auto credit card pay.
  • Monthly Flex Plans that give customers the flexibility to choose a new plan at any time with no cancellation fee.
  • Reliant Power Tracker is another indexed plan with a rate that changes monthly based on the market price of natural gas.
  • Average billing to make budgeting easier.

For customers with smart meters, Reliant Energy offers its Weekly Summary email and Time-Of-Use pricing.

  • The Reliant Energy Weekly Summary email shows how much energy the customer used during the week, compares that to the previous week and projects how much the bill will be at the end of the month.
  • Time-Of-Use pricing helps customers better manage their electricity bill. Under this plan, the cost of electricity changes during the day based on overall demand for electricity, allowing customers to benefit from making choices about when and how they use electricity. By shifting high-usage activities – like doing laundry or running the dishwasher or swimming pool pump – to lower-priced periods, customers may be able to reduce their overall cost.

About Reliant Energy:

Reliant Energy provides electricity and energy services to approximately 1.6 million retail customers—including homes, small and large businesses, manufacturing facilities, government entities and institutions across Texas. As part of NRG Energy (NYSE: NRG), Reliant Energy is backed by one of the nation’s largest power producers. NRG owns and operates more than 24,000 megawatts of generation capacity, including more than 11,000 megawatts of capacity in Texas. For more information about Reliant Energy products and services, visit www.reliant.com.

Reliant Energy
Pat Hammond, 713-497-7723

 

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