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.
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.
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.
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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.