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Viridian Energy Expands 3DOM Longer-Term Fixed Contracts to New State

October 27, 2014

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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Viridian Energy has begun offering its 3DOM 36-month fixed and hybrid electric plans in Pennsylvania, at PECO, PPL, and Duquesne Light.

As in other states where Viridian recently launched the new products (click here for story), 3DOM encompasses two products: a traditional 36-month fixed rate, and a 36-month hybrid product that allows the customer to convert to a fixed rate, as established on their initial enrollment date, when desired.

The traditional 36-month fixed rate includes a "back-end" rebate that provides that if, at the end of the term, the customer has paid more under the product than what they would have paid with their utility, Viridian will rebate the customer for "110% of the difference up to an established average amount for utility customers."

Under the hybrid 3DOM Flex, the customer receives an introductory 5% off the, "utility price index," for the first two months of service, with subsequent rates established by a monthly Viridian Energy index plus a custom retail adder (essentially a rate fluctuating with the market) until the customer elects to lock-in a fixed rate which was established at the time of enrollment

The retail adder is based on the customer's green content and customer type (residential or small commercial)

At PECO, PPL, and Duquesne Light, Viridian is offering the 3DOM products with 50% or 100% renewable energy. Residential pricing is as follows (¢/kWh):

PECO
3DOM Fixed, 50% Green                 9.79
3DOM Fixed, 100% Wind                10.79
3DOM Flex, 50% Green                  7.84
3DOM Flex, 100% Wind                 7.84

PPL
3DOM Fixed, 50% Green                10.49
3DOM Fixed, 100% Wind                11.49
3DOM Flex, 50% Green                  8.51
3DOM Flex, 100% Wind                 8.51

Duquesne Light
3DOM Fixed, 50% Green                 8.99
3DOM Fixed, 100% Wind                 9.99
3DOM Flex, 50% Green                  7.68
3DOM Flex, 100% Wind                 7.68

For residential customers, a $50 early termination fee applies to the fixed product and any fixed portion of the flex product.

Viridian said that it plans to offer its 3DOM products to natural gas customers in Pennsylvania later this year at PECO.

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