Direct Energy Aggregation Customers to See Significant Decrease in Electricity Rate
Customers in deregulated service territory have access to choice and lower prices
Pike Co., PA (2/5/2009) - Pennsylvania Public Utility Commissioners today approved an agreement that will extend the term and significantly lower the price of Direct Energy’s residential and small commercial aggregation program within the Pike County Light & Power Company (PCLP) service territory.
The term – renewed for another two years – includes a new fixed rate of $0.098 per kWh, almost 18 percent lower than last year’s aggregation price. The new rate will go into effect June 1, 2009.
“This program is evidence that competitive markets operating under the right structure work,” said Mike Beck, vice president and general manager for Direct Energy. “Four years ago these customers were paying almost 30 percent more for their electricity, but are now experiencing savings because they have access to prices reflective of the competitive market.”
The PCLP service territory is one of the few markets in Pennsylvania where rate caps have expired, and where suppliers are incented to compete for the business of customers through various product, service and pricing options.
“We wanted to deliver a program that showed customers the true value of a competitive market – options and possible savings,” said Beck. “If competition is allowed to work as intended, as we’ve seen in Pike County, it will produce the value customers want.”
Existing program participants will automatically be rolled over to the new rate on June 1. Those currently not enrolled can sign up now at the current aggregation price of $0.11937 per kWh and be converted to the $0.098 per kWh rate in June. Letters regarding specific details of the program will be mailed out to PCLP service territory residents and small businesses in the spring.
About Direct Energy
Direct Energy is one of North America’s largest energy and energy-related services providers with over 5 million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world’s leading integrated energy companies, Direct Energy operates in 22 states plus DC and 10 provinces in Canada. To learn more about Direct Energy, visit www.directenergy.com.
For additional information, contact:
Yvette Hamilton
Direct Energy
(713) 877-5818
yvette.hamilton@directenergy.com
Direct Energy® is a subsidiary of Centrica plc. All rights reserved. Centrica was created following the demerger of British Gas plc in 1997 and is now a leading supplier of energy and related services. To read more about Centrica plc please visit www.centrica.com.