New Competitive Power Supplier Plans Save Texas Consumers Millions

Customer satisfaction with competition has never been higher in Texas, according to the third annual JD Power and Associates survey on customer satisfaction with retail power suppliers.
 
Retail customers reported increased satisfaction levels and high power supplier switching rates , thanks to a mix of innovative new energy programs, customer service, lower wholesale electricity prices and deals that will save Texas consumers millions of dollars over the next few years while helping to stimulate clean energy technology.
 
Reliant Energy rolled out a “Cap-and-Save” program that caps customers’ rates when they sign up and automatically cuts their rates when the market price of natural gas drops, no matter how low prices go. The pilot program combines the assurance of a fixed contract with the flexibility of competitive market prices.
 
Earlier this summer, NRG Energy announced the first “all-you-can-eat” electricity plan for customers with electric vehicles. The plan will provide unlimited charging at home and at public charging stations throughout Houston for a fixed monthly rate.
 
The City of Dallas also recently took advantage of competitive market pricing to save seven million dollars per year. COMPETE member companies TXU Energy and Priority Power Management teamed up to customize a three-year contract that fits the city’s load shape throughout the year by buying separate blocks of energy. This represents more than 2.2 million megawatt hours (MWh), will power over 800 city-owned facilities, encourages energy efficiency through rebate funds and includes 40 percent wind energy through renewable energy credits generated at Texas wind farms.
 
Competition’s positive effect on energy costs are nothing new to the Lone Star State. The Electric Reliability Council of Texas (ERCOT)’s 2009 State of the Market Report reported average wholesale electricity prices dropped 56 percent in 2009 from 2008 levels, helping consumers cope with the economic downturn.
 
The latest news out of Texas once again shows how competition creates economic and environmental benefits when consumers are empowered to shop for innovative energy plans.