Reliant Affiliate Pennywise Power Begins Offering Service at CenterPoint

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November 18, 2010

Pennywise Power, the new value brand launched by NRG Energy, has begun offering service in the CenterPoint service area.

As only reported by Matters (10/11), NRG has launched Pennywise as a separate retail supplier aimed at customers for whom cost is the "bottom line."

Currently, Pennywise Power is offering a monthly variable rate at 7.1¢/kWh, and a 12-month fixed rate at 9.1¢/kWh.  The fixed rate plan includes a $150 early termination fee.

Both products require that customers enroll on electronic billing and a form of recurring automatic payment.

Pennywise's variable rate, whose price is matched by five other REPs, is the cheapest rate on Power to Choose in the CenterPoint area.  Affiliate Reliant Energy is also offering a monthly variable rate at 7.1¢/kWh which does not require enrollment in paperless/automatic billing.  Reliant's lowest 12-month fixed rate on Power to Choose is 9.5¢/kWh.

Service from Pennywise Power is not yet offered in any other service area.

Pennywise Power's recently launched website describes Pennywise as, "deliver[ing] everything you need, and nothing you don't."

"We know there are fellow Texans looking for essential electricity service who don't want to pay more for unnecessary extras," the Pennywise website states.

   
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