Citing "huge wholesale rate increases and the instability of the state's energy markets and regulatory structure," Green Mountain Energy Company has become the latest retail marketing casualty of California's dysfunctional electricity market. The company announced that it is returning most of its customers to their default utility providers. In exception are customers located in Southern California who signed up for Green Mountain's fixed rate green power product. Those customers will continue to be served until the end of the year.
At the same time, Green Mountain is gearing up to sell green power in Texas, which will begin a retail competition pilot program in June before moving to full retail competition on January 1, 2002. The Texas Public Utility Commission recently approved the company's application for a Retail Electric Provider license, although no details are yet available on the products that will be offered or their pricing.
News Release - Green Mountain Energy Company to Protect California Customers by Returning Most to Local Utilities - No longer online at greenmountain.com
News Release - Green Mountain Energy Company Receives License to Supply Cleaner and Renewable Electricity in Texas - No longer online at Yahoo.com