HOUSTON, Jan. 18 /PRNewswire-FirstCall/ -- Reliant Energy is launching
an innovative new price plan for consumers who prefer an electricity price
that adjusts monthly and is closely tied to changes in natural gas and
wholesale power prices.
Called Reliant PowerTracker(SM), the new plan is available to customers
in competitive areas of Texas beginning Jan. 29 and is designed for those
who are familiar with and closely follow natural gas and power markets. The
Reliant PowerTracker(SM) price per kilowatt hour changes monthly according
to a formula that uses the New York Mercantile Exchange (NYMEX) Natural Gas
Futures Contract price and a gas multiplier reflecting changes in supply
and demand conditions in the ERCOT wholesale power market over time. It
also varies depending on the customer's electric utility service area.
"We are committed to bringing the benefits of competitive electricity
markets to our customers and to designing pricing plans and services to
meet the unique needs of different types of customers," said Matthew
Benner, Reliant Energy's senior vice president of retail marketing. "This
plan puts power purchasing decisions in the hands of the consumer. This
type of plan is designed for customers who are knowledgeable about the
power market and comfortable with price volatility. It is not the most
suitable plan for all customers. Reliant's other plans are designed with
different benefits like providing customers with more stable and
predictable pricing. Reliant PowerTracker(SM) allows customers who
understand the risks of a commodity- based plan to benefit from
fluctuations in the market."
Customers who choose this plan must be willing to bear certain types of
risk. Natural gas prices and demand conditions are volatile and can change
substantially either increasing or decreasing, daily, weekly and monthly.
In any given month, the price of Reliant PowerTracker(SM) could be
significantly higher or lower than other Reliant Energy plans.
Customers who select Reliant PowerTracker(SM) should be familiar with
and have the financial capability to withstand the volatility of natural
gas prices and market conditions. Those who want to avoid the risks
associated with potentially large swings in prices each month are
encouraged to consider other Reliant Energy price plans with more stable
pricing.
Because of the complexity of the new plan and the detailed descriptions
about the pricing formula, only online enrollments will be accepted.
Customers can choose another plan at any time with no cancellation fees,
but will only be allowed to return to this plan after 12 months. For more
information, visit our website at http://www.reliant.com/offers .
Reliant Energy, Inc. (NYSE: RRI), based in Houston, Texas, provides
electricity and energy services to retail and wholesale customers in the
United States. In Texas, the company provides service to approximately 1.9
million retail electricity customers, including residential, small business
and commercial, industrial, governmental and institutional customers.
Reliant also serves commercial, industrial, governmental and institutional
customers in the PJM (Pennsylvania, New Jersey and Maryland) market.
The company is one of the largest independent power producers in the
nation with approximately 16,000 megawatts of power generation capacity
across the United States. These strategically located generating assets
utilize natural gas, fuel oil and coal. For more information, visit
http://www.reliant.com/corporate .
SOURCE Reliant Energy, Inc.
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Related links:
http://www.reliant.com/corporate
http://www.reliant.com/offers
CONTACT:
media, Pat Hammond, +1-713-497-7723, or
investors, Dennis Barber, +1-713-497-3042, both of Reliant
Energy, Inc.
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