HOUSTON, Oct. 3 /PRNewswire-FirstCall/ -- Reliant Energy today
announced savings for all residential price-to-beat customers starting with
the December bill and continuing through April 2007. For a typical customer
using 1,000 kwh per month, the savings will be approximately 8.5 percent
and will be paid as two $25 bill credits, one in December and one in
April.*
As part of Reliant's low-income discount program, these bill credits
will result in low-income customers seeing an effective price savings of
13.5 percent compared to their current rates through April 2007.
"Competition in Texas electricity markets is bringing tangible benefits
to consumers. This new pricing plan is the latest example," said Joel
Staff, chairman and chief executive officer, Reliant Energy. "Over the last
year, we have been offering discounts to all of our customers. To date,
425,000 residential customers in Houston have made a choice to take
advantage of Reliant's offers. For those who have not elected one of these
offers, this new pricing plan delivers savings quickly and in a meaningful
way."
Reliant Energy is also offering all of its Houston-area customers the
2007 Secure Plan. This plan pays the two $25 credits described above as a
sign-up incentive, as well as an additional 5 percent discount through the
end of 2007, compared to today's price to beat.
Beginning in late 2005, Reliant Energy started aggressively marketing
competitive products to its Houston-area residential customers. Since that
time the company has introduced six new pricing plans that offer customers
a choice of long-term price stability and flexible month-to-month products
as well as competitively priced renewable energy. The company is on target
to meet its goal of signing up 500,000 of its Houston-area residential
customers on competitive products by the end of the year. To date, about
900,000 Texans have chosen one of Reliant's competitive pricing plans.
"The price to beat was designed to transition from regulation to a
competitive market," said Staff. "Today, we offer our customers better
options designed to meet their individual needs."
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 .
*Credits are available for price-to-beat customers who continue service
on the plan that replaces the price to beat at the end of December 2006.
Customers must continue service through April to be eligible for the second
credit.
SOURCE Reliant Energy, Inc.
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Related links:
http://www.reliant.com/corporate
CONTACT:
Pat Hammond, media, +1-713-497-7723, or
Dennis Barber, investors, +1-713-497-3042, both of Reliant
Energy, Inc.
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