Reliant Energy asking for Large Deposit Amount?

Have you moved into a new Houston apartment or rental house? Are you a student and are just getting your credit history established? You may have tried switching to Reliant Energy if you are in the Houston area only to be told they need a very large deposit to have Houston electricity service turned on in your name. If your credit score is less then fair they may need a $400 deposit or possibly even higher. For many in this situation you may have even had to already save up and pay your deposit for your apartment or rental house. To now be asked for an additional $400 as a deposit for electric service to be turned on can be a very frustrating issue. If you are in this situation or something similar we recommend you give Bounce Energy a call.

Reliant Energy in Houston rejects hundreds of customers a day who just do not meet their credit requirements. A good credit score is 630 while a bad credit score could be anything below 600. Now having a 600 credit score really isn’t that bad but when turning on electricity service many Houston electricity companies have to be conservative about what credit risk they take on. Energy providers make a profit by signing up large volumes of customers. They cannot afford for too many of these electricity service customers to default on their energy contract. We do not know what credit score Reliant Energy uses to flag a customer for a deposit or no deposit because it is an always changing number with most Texas energy providers.

Without an effective risk management strategy a Houston electric provider can easily go out of business which was the case with Riverway Power and National Power in the summer of 2008. Reliant Energy is not the enemy but they are one of the biggest Houston electricity companies if not the biggest and so they have to be very careful which energy customers they sign up as they could end up with too many credit risk customers and actually lose money. A Reliant deposit however is not the end of the road for a credit risk customer. If you have limited or no credit you can be approved for a guaranteed no deposit electricity rate with Bounce Energy. You can call them using the phone number listed above and get immediately switched to Bounce Energy at a very unique electric rate plan.

If you have good credit we recommend trying out our cheapest available electricity rate offers which are listed on the top left of this page. Find the fixed rate plan that suits you best whether it be a 1 year fixed rate, 2 year, 3 year, or 6 month rate and click on the “sign up now” link. You will then need to enter your Texas service address and your rate will be confirmed based on the area you live in. We pride ourselves in disclosing all fees and charges in our electricity rates we advertise on our site. We are not trying trick someone into an energy contract that is not what it clearly states it is. Some energy companies in Houston and other deregulated areas in Texas will have unclear terms and conditions with their pricing which can only be found by investigating their pricing in their terms of servive in their energy contract. Reliant Energy is not a Texas electric provider that deceives their customers and so you will not have to worry about being tricked into a rate that isn’t clearly advertised for what it is when signing up with Reliant. Reliant Energy however has uncompetitive Houston electricity service rates in comparison to several of the reputable electric companies we have listed in our best residential rates on the top left of this page. At this time we recommend you choose an electric provider other then Reliant until their electricity prices improve.

Reliant Energy has Been Bought Out

Reliant Energy is one of the prominent electricity company brands in Texas. With 1.8 million customers in Texas they are known by quite a few Texans as “the lights company”. Because of credit issues they sold their retail electricity business to NGR Energy for $287.5 million dollars. Reliant is now officially out of the retail electricity sales business. Reliant will still be generating power and distributing that power on the ERCOT electric grid. When we said Reliant Energy was one of the large electric providers facing trouble we had a few people comment that there is no way Reliant is in trouble. They are a big Texas energy provider and are doing fine were some peoples impression that have been with Reliant since the days when they were known as Houston Lighting and Power. Those days are long gone for Reliant Energy and if you have been paying attention to their electricity rates the last few months you may have noticed they weren’t exactly the price leader when selling residential electric service. For example, take a look at the chart below and you will notice as of today they almost come in last place in regards to the price you pay per kWh for Reliant electric service.

Reliant Energy Rates Have Been Going Up

One of the Largest Electric Companies in Texas

Reliant Energy is one of the top residential electric providers in the state of Texas. With several million residential customers most would think they are in good shape. A few months ago the Houston Chronicle reported that Reliant was potentially having some credit issues and might need to sell off their commercial and industrial portions of their business. This is still a bit cloudy as no one knows exactly what Reliant is going to do. Their residential division has been rumored to possibly be for sale or to be for sale sometime in the near future as well. Until then we really are not sure what will happen but Reliant Energy’s electric rates seem unreasonably high when comparing their fixed electric rate contract to other Texas electric providers prices.

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Long Time Customer Drops Reliant Energy and Goes with a Cheaper Power and Lights Company

My father in law called me a few days ago and said his rate this month has been around 18 cents kWh. This seems strange as an energy provider selling unhedged energy right now could make a fairly decent profit selling electricity in the 13 – 14 cents kWh range if they were to buy energy a month in advance to sell their customers. My father in law called Reliant Energy and they said they could lower the residential electric rate to somewhere in the range of 15.5 cents kWh. This seems a little outrageous as well. Most electric companies we work with are only charging an electric rate in the range of 10 – 12.5 cents kWh for a 1 year fixed rate.

Comparing Reliant Energy Prices with Other Electricity Companies

When comparing Reliant Energy’s residential electric rate for the month of February 2009 they just do not offer a competitive electric rate with a majority of the discount electric companies out there. My father in law called me and I told him about Startex Power’s 1 year fixed rate and a few other providers electric rates. He eventually signed on a fixed rate contract for 1 year with the cheapest provider. If you want to compare available electric rate offers in your area then I encourage you to check rates on the upper left hand corner of this site. We keep these Texas electric rates updated daily and you can sign up with confidence that your electric rate will not change the entire term of the agreement. If you are a Reliant Energy customer and have called them to complain about your 18 cents kWh rate and are now shopping to find a cheaper electric provider then we welcome you to compare among our list of reputable Texas electricity providers.

Feel Free to Contact us with Your Electricity Questions

If you have any questions about the energy prices you see on this site then please feel free to click on our contact us link and call or email us with any questions you may have.

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