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Direct Energy to Maintain First Choice Power Brand
September 26, 2011
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Direct Energy will maintain the First Choice Power brand after its previously announced acquisition closes (9/23), Steven Murray, President of Direct Energy Residential, told Matters.
Murray said that Direct "admired" the customer service and image that First Choice Power had built in the past few years, and will look to build on this customer loyalty.
The strategy is nothing new for Direct which has maintained use of the CPL and WTU brands in their respective former incumbent service areas.
In particular, Murray said that Direct will continue, and hopes to expand, First Choice Power's retail storefront offices. First Choice Power currently operates three local offices, which Murray noted gives First Choice Power a strong presence in the community and favorable brand recognition.
Though Direct has no formal plans at this time, Murray suggested that there may be a way to leverage the storefronts in Direct's plan to integrate its HVAC and home services offerings with its commodity supply offerings to small volume customers.
Murray cited the small commercial market as another strong driver of the acquisition, which combines First Choice Power's 40,000 small commercial customers with Direct Energy's 45,000 small commercial customers in ERCOT.
As noted Friday, expanding Direct's prepaid platform was another driver of the acquisition, and Murray reported that Direct currently has 25,000 prepay customers in ERCOT.
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