NRG Retail Brands Acquiring Retail Customer Books, Brand Assets From Texas REP
October 29, 2018 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Note: This story was first published the evening of Oct. 29 at 5:35 pm with an alert to our email subscribers
NRG Energy, Inc. has entered into an agreement to purchase the customers and brand assets of Discount Power, Power Express and Volterra from Volterra Energy Holdings LLC (VEH).
The customers of these entities will become part of NRG in November 2018.
Discount Power customers will primarily be transitioned to Pennywise Power, while customers who are part of Power Express and Volterra will primarily be transitioned to Cirro Energy. Both Pennywise and Cirro are brands of NRG's retail provider US Retailers LLC
According to correspondence provided to customers, initially Pennywise Power will serve customers under its existing brand, but, in early 2019, Pennywise Power will change its name to Discount Power.
Pennywise Power states on its website concerning the use of the Discount Power brand, "Pennywise Power is a fan of Discount Power, its loyal community of customers and its strong presence in Texas. Once the contracts and agreements have been fulfilled, the name change will take place."
The NRG REPs are honoring all current pricing plans from the various acquired brands.
NRG did not disclose the number of customers being acquired from the VEH brands.
In an August 2018 news release, Volterra Energy Holdings was described as serving close to 225,000 residential customer equivalents in the state of Texas. It was unclear if all such customers were included in the books purchased by NRG, though the three brand assets acquired by NRG represent the totality of current retail brands used by Volterra Energy Holdings
NRG provided the following statement to EnergyChoiceMatters.com: "NRG Energy, Inc. has entered into an agreement to purchase the customers and brand assets of Discount Power, Power Express and Volterra from Volterra Energy Holdings LLC (VEH). The customers of these entities will become part of NRG in November 2018. NRG is excited for Discount Power, Power Express and Volterra customers to join the NRG Retail family of brands in Texas."