New Retail Provider Offering Service in Texas

Kona Energy has begun offering residential electricity service in Texas.

As first reported by Matters, Kona Energy, which is a trade name for Iron Energy, is led by ERCOT market veterans David Luppino, Chad Gallun, and Michael Elhaj, who previously founded and led Texas retail provider Chain Lakes Power (Simple Power)

At Oncor, Kona Energy is offering the following residential plans (in cents/kWh, all-in rate at 1,000 kWh):

6 Months Fixed:         9.9¢
12 Months Fixed:        9.1¢
24 Months Fixed:        9.8¢
Variable:               8.8¢

At CenterPoint Energy Houston Electric, Kona Energy is offering the following residential plans (in cents/kWh, all-in rate at 1,000 kWh):

6 Months Fixed:        11.6¢
12 Months Fixed:       10.7¢
24 Months Fixed:       10.9¢
Variable:               9.8¢

All quoted rates reflect a 0.4¢/kWh discount for e-billing. A minimum usage fee of $9.95 applies if usage is less than or equal to 999 kWh in any month.

The fixed products include an early termination fee of $100 if the term remaining on the product is less than 12 months, or $200 if the term remaining is 12 months or more.

Residential service from Kona Energy is also available at AEP Texas Central, AEP Texas North, and Texas-New Mexico Power.