Direct Energy Launches Cash Back Product in Texas

Direct Energy has begun offering a Texas residential electric product that provides customers with a 3% cash back reward, in the form of a bill credit.

The 3% loyalty reward is a bill credit that will appear on the customer's bill on a quarterly basis, based on 3% of the customer’s monthly energy charge, excluding TDSP surcharges, fees, and applicable taxes.

At Oncor, as listed on Power to Choose, Direct Energy is offering 3% cash back on 12 and 24-month fixed products. The 12-month plan has an average rate of 9.1¢/kWh at 1,000 kWh (reflects e-bill and e-statement credit), and the 24-month product has an all-in average rate of 9.5¢/kWh at 1,000 kWh.

At CenterPoint Energy Houston Electric, as listed on Power to Choose, Direct Energy is offering 3% cash back on a 24-month fixed product, which has an all-in average rate of 10.7¢/kWh at 1,000 kWh.

At Texas-New Mexico Power, as listed on Power to Choose, Direct Energy is offering 3% cash back on 12 and 24-month fixed products. The 12-month plan has an average rate of 10.4¢/kWh at 1,000 kWh (reflects e-bill and e-statement credit), and the 24-month product has an all-in average rate of 10.4¢/kWh at 1,000 kWh.

Similar 3% cash-back plans are offered by Direct Energy affiliates CPL Retail Energy and WTU Retail Energy at AEP Texas Central and AEP Texas North, respectively.

A minimum usage fee of $9.95 is applicable if usage falls below 999 kWh.

The 12-month plans have an early termination fee of $200, and the 24-month plans have an early termination fee of $300.