Start-Up Texas REP Launches Service, Offers Include $100 Monthly Refund For Usage Over 999 kWh
Brand's Operator, Which Owns Several Energy/Consumer Services Businesses, Plans Public Offering
July 20, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Start-up Flagship Power has launched retail electric service in Texas
For residential customers, Flagship Power is offering a variety of fixed rates of terms ranging from 12 to 36 months, with plans including a standard fixed rate, a 100% renewable energy fixed rate, and a fixed rate plan that includes a $100 refund each month if the customer's usage exceeds 999 kWh.
In the Oncor service area, Flagship Power's Galleon 12 plan for residential customers is a 12-month fixed plan with an average all-in rate, at 1,000 kWh, of 16.7¢ per kWh. This reflects an energy charge of 22.46¢ per kWh, a usage credit of $100 per cycle if usage for that cycle reaches 1,000 kWh, and TDU charges of 3.891¢ per kWh and $3.42 per month. A termination fee of $20 multiplied by the number of
months remaining on the term of the contract will apply.
Flagship Power's other plans use names such as Schooner and Windsurfer
Flagship Power lists other services as coming soon, including insurance, bill reduction, and solar.
As previously reported, Flagship Power is a new brand certificated under the MI Texas REP 1, LLC REP certificate as a white label. The Flagship Power brand is operated by Utility Rescue Holdings, Inc., whose leadership includes various retail energy market vets, including Rob Cantrell and Phillip Wills
• Flagship Power Services, LLC (licensed Texas broker who manages the brands "Flagship Power" and "Juice")
• TASC, LLC (will operate under the brand "The American Solar Company") – rooftop solar company (not yet launched)
The current Utility Rescue Holdings owners bought the assets of Viv and Utiliz around a year ago, and the other three companies are new and have been formed in the interim. "The goal is to create an ecosystem to provide financial and energy services and generally help to reduce consumers and businesses’ cost for monthly essential services," said Cantrell
Most of the management team from Pulse Power, where Cantrell was President, is joining the team at Utility Rescue and Flagship Power
"We are excited to launch Flagship Power, although the energy market is extremely volatile right now. I feel there is a gap between the 'mom & pop' companies and then the corporate behemoths that we were able to fill successfully before, and plan to do again," Cantrell said
Cantrell said that Utility Rescue Holdings is planning a public offering later this year or early 2023