HOUSTON, April 16 /PRNewswire-FirstCall/ -- Reliant Energy announced
today it is lowering its price for Residential Service Plan customers by 10
percent and is offering residential households in the Houston area a new
100 percent wind power product at the same low price.
The average annual price for the Residential Service Plan will decrease
by 1.7 cents per kilowatt hour, from 16.3 cents to 14.6 cents for customers
using 1,000 kilowatt hours per month. The new price will be reflected in
customer invoices starting May 21 for power consumed the prior 30 days.
"Giving customers more choices, competitive pricing and better products
and services is what competition is all about," said Joel Staff, chairman
and chief executive officer, Reliant Energy. "We have consistently said
that our retail prices will follow wholesale costs, and we are passing on
the benefits of lower wholesale prices to our former price-to-beat
customers. We are acting today to ensure these customers receive a
double-digit price reduction for the hot summer months."
The Residential Service Plan was created as a transition product for
former price-to-beat customers who had not chosen a competitive product.
Today, this represents just over 25 percent of the residential customers in
the Houston area. In October, Reliant announced that these customers would
be receiving two $25 bill credits, one in December and a second in April,
to reflect lower costs.
For a limited time, Reliant Energy will also offer residential
households in the Houston area an opportunity to select a month-to-month,
100 percent wind power plan at the same 14.6-cent-per-kilowatt-hour price.
Renewable power products typically sell at a premium to other electricity
pricing plans. The company is offering this new low price to encourage
customers to participate in renewable energy products. This is one of the
lowest-priced wind power offers in the market today.
"We have a number of new products that offer customers a wide range of
options including long-term price security, renewable energy and month-to-
month flexibility," Staff added. "We continue to see customers in Houston
and across the state choose one of Reliant's competitive products that best
suits their needs."
Reliant Energy, Inc. (NYSE: RRI) based in Houston, provides electricity
and energy services to retail and wholesale customers in the United States.
In Texas, the company provides service to nearly 1.9 million retail
electricity customers, including residential and small business customers
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 in
operation 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
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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