Reliant Energy announced it is introducing Cap-and-Save, the first rate plan in Texas that caps customers’ rates when they sign up and automatically reduces their rates no matter how low prices go. Reliant Energy provides power services to over a million and a half retail customers including homes, businesses, manufacturing facilities, government entities and institutions across Texas.

Reliant Energy President Jason Few says, “Our customers have told us they want the security of a term plan and lower rates if energy prices fall. We heard them loud and clear. Our customers want choices – not just one type of plan. We offer a range of competitively priced plans so that we can work with customers to choose one that’s right for them.” Few also says Reliant has been piloting the plan with select customers since June 15 and the response has been overwhelmingly positive.

Cap-and-Save is available to all new Reliant customers as well as existing customers on month-to-month plans and those whose contracts are ending soon. The automatic rate decreases are based on the market price of natural gas. When it declines, customers’ rates are lowered automatically based on the formula in the Reliant Cap-and-Save Electricity Facts Label. However, the consumers’ charge will never go above the cap in the contract.

Reliant also says “charges from the transmission and distribution companies are passed through to the customer without markup and are reflected in the average price per kilowatt hour.”

Reliant Energy is part of NRG Energy, one of the nation’s largest power producers, owning and operating more than 24,000 megawatts of generation capacity, including more than 11,000 megawatts of capacity in Texas. For more information visit www.reliant.com

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