Direct Energy

Direct Energy

February 01, 2011 17:26 ET

Direct Energy Super Flex Energy Plan Beats February Regulated Power Rates

New Plan Offers Flexibility, Price Protection, and No Exit Fees

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2011) - As Alberta emerges from another cold snap which set a new one-day power record for January 31 and surpassed the $990 per-megawatt-hour price Monday afternoon, Direct Energy is promoting an energy plan that is flexible, offers competitive price protection and is below February's regulated power rates. 

Super Flex is a two-year, dual-fuel product with no exit fees. The price for natural gas floats with the wholesale market price and is capped at $6.99/GJ from November – March for each year of the contract, when consumption is typically highest. The electricity price is locked-in at 7.89¢/kWh – a price below February's regulated electricity rate across Alberta - and never changes for the entire length of the contract. Direct Energy also provides Super Flex customers the ultimate in flexibility, requiring no exit fees.

"Our customers have told us that they want an energy product that is as flexible as the energy market; one that allows them the freedom to choose a different product if market prices change significantly; and that offers an element of price certainty," said Gary Newcombe, Vice President, Government & Regulatory Affairs, Direct Energy. "This product is designed for those customers and we know it's resonating. Since launching in December, Super Flex has been our top-selling product."

More than one in four Albertans have already switched from regulated providers to a retail energy contract, and demand for choice continues to grow as customers take advantage of the innovative new products offered by competitive retailers. Customers now have more options than ever before, including fixed-price options that freeze prices like Direct Energy's Simple Three and Simple One plans, while other retailers offer variable options that float with the market, seasonal products that are a mix of fixed and variable pricing, and green energy options.

"The great thing about the growing competition we see in Alberta's retail energy market is that it drives innovative new choices in response to consumer demand," said Newcombe. "As a result, Albertans have more choices in the way they purchase energy than other Canadians."

The Super Flex product is available to customers in Alberta. As a dual-fuel product, customers save 50 per cent on Direct Energy's administrative fees. Consumers can find out more about this product and others by visiting www.directenergy.com, or speaking with an Energy Consultant.

About Direct Energy

Direct Energy is North America's largest provider of heating & cooling, plumbing and electrical services and a leading energy and energy-related services provider with over eight million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE:CNA), one of the world's leading integrated energy companies, Direct Energy operates in 46 U.S. states plus the District of Columbia and 10 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.

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