8 December 2004 – In a battle for Texas’ residential electricity customers, Green Mountain Energy Co. is offering a renewable energy plan pegged to the rates of the market leader, TXU Energy.
Green Mountain’s move is the latest attempt to convince customers to switch utilities. Almost three years into retail competition for electricity, TXU has kept more than 80 per cent of its original residential customers.
The new pegged plan, a mix of hydroelectricity and wind power providers, means that customers won’t have to pay more to switch to a pollution free plan. Coal is used to generate 44 per cent of TXU’s electricity, with one per cent coming from renewable sources and the rest from natural gas and nuclear plants.