Lower prices coming for CPL customers

McAllen, TX - CPL Retail Energy is lowering prices for its residential Direct Electricity Plan customers for the second time this year.

Effective May 5th, all residential customers on the Direct Electricity Plan will see their electricity prices reduced by at least 6 percent. Coupled with a 15 percent price-down that took effect at the end of February, the resulting average annualized savings will be approximately $480 per household.

"CPL cares about its customers, and we value those customers who've made us their retail electricity provider of choice," said Paul Keene, Senior Director for CPL Retail Energy. "Continuing to reduce prices for our customers when they need it most is the right thing to do."

CPL continues to be focused on keeping prices as stable as possible to mitigate the impact of price and market volatility on its customers. "We're a long-term partner with our customers and our local communities," said Keene.

In addition to the latest price reduction, CPL is planning an active month of community activity in April, where teams will be travelling to Corpus Christi, Laredo, and the Valley performing random acts of kindness in the community, such as purchasing gas, coffee, groceries, or tickets for movies and events for unsuspecting consumers. There will also be opportunities for people to win prizes.

"We want to be able to make meaningful impacts on our customers; Texans are being impacted by the economic slow-down," said Keene.

As announced in early February, CPL has created a sweepstakes aimed at directly and positively impacting nearly 100 customers' pocketbooks. All residential customers who were taking service with CPL as of March 31, 2009, were automatically be entered for a chance to win:

  • A month's worth of groceries, up to $500, being awarded to 35 lucky winners;
  • A summer's worth of free electricity, up to $1,000, being awarded to 50 winners; or
  • The grand prize of a year's worth of mortgage payments (up to $40,000).

CPL will also be lowering its prices for new customers, and encourages those who are shopping for their electricity service to take another look at CPL. The company offers both flexible options like the Direct Electricity Plan, as well as fixed-price plans at competitive prices.