Reliant Energy has launched a product, for residential customers with provisioned advanced meters, offering customers cash-back for usage during nights and weekends.
The Reliant e-Sense Cash Back Nights & Weekends plan, available at Oncor, CenterPoint, AEP Texas Central and AEP Texas North for customers with smart meters, applies a standard energy charge for all hours of consumption.
However, for usage between 8 p.m. to 8 a.m. on weekdays, and for all weekend usage, Reliant will pay the customer 1 cent per kilowatt-hour of consumption. Essentially, the product is a two-tier time-based product, but with the lower rate marketed as cash-back rather than a separate rate applicable in certain hours.
Reliant said that the cash-back mechanism was designed to be simple to understand for customers, as opposed to a tiered rate structure.
The cash-back credit is 1 cent per kWh in all service areas.
The energy charge applied to all usage under the product is as follows by TDU area (cents per kWh):
AEP Texas Central: 14.0
AEP Texas North: 12.9
Based on an average usage profile over 12 months in which 61% of consumption is on nights and weekends, the price per kWh for the product, as quoted in the Electricity Facts Label, is as follows for 1,000 kWh usage (cents per kWh):
AEP Texas Central: 13.4
AEP Texas North: 12.3
Each product is also 20% renewable.
The 12-month product, which is defined as indexed due to the formula used to calculate the cash back and monthly total (though the energy charge and credit are fixed), includes a $150 early termination fee applicable starting after the due date of the first bill.
ESCO based in NJ providing both gas and electric in NJ, NY and PA seeks qualified
CEO with extensive operational & marketing experience for rapid expansion. Salary
plus potential for equity commensurate with experience. Please send resume to email@example.com.
All correspondence will be held in the strictest confidence