Bobby, a member of the CenterPoint Energy Services team, received an email from his retail electric provider (REP), Kinetic Energy, last month. In it, Kinetic announced that it is now part of Cirro Energy, which is owned by Dominion Resources. The letter assured that his contract terms would remain the same for the remainder of the term. Though it may it be a surprise to customers to receive such a message, this type of activity is becoming more common in the Texas market.
Kinetic Energy isn’t the only REP that has been acquired by larger REPs recently:
- Just Energy purchased Houston locals Tara Energy, Amigo Energy and Smart Prepaid Electric.
- Exelon Corp. will soon combine with Constellation Energy, which has already bought Houston-based StarTex Power and MX Energy.
- Dominion Resources bought Dallas-based Cirro Energy. Cirro has since merged Simple Power and Houston-based Kinetic Energy under its brand.
- Direct Energy now owns First Choice Power.
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Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.