16 Oct Texas consumers prefer ‘trusted’ electricity supply brands; Direct Energy Business acquires Source Power & Gas
Research finds Texas consumers prefer ‘trusted’ electricity suppliers. About two out of three Texas electricity consumers prefer “large, trusted and financially stable” retail electricity providers rather than smaller REPs that use low rates to attract business, according to a recent survey. The polling also found that most electricity shoppers in Texas don’t use online electric-rate shopping tools. “This means well-known large REPs have a significant competitive advantage over small- and mid-sized REPs with weak brands,” says a press release announcing the results of the annual Cogent Reports Texas Retail Electric Provider Brand Trust Study by Market Strategies International-Morpace. “The days of ‘set a rate and wait’ are over for the REP market. Texans are experienced shoppers who already know what brands they can trust to offer great products and service,” said Chris Oberle, senior vice president of Energy Research at Market Strategies-Morpace.
Source Power & Gas acquired by Direct Energy. Centrica’s Direct Energy Business announced it has acquired the retail electricity business of Source Power & Gas, a wholly owned indirect U.S. subsidiary of Australian power company ERM Power Limited. Source Power & Gas serves 4,000 customers across 16,000 service locations in Texas, Illinois, Ohio, New Jersey, Delaware, Maryland, Pennsylvania and the District of Columbia. “The purchase of Source Power & Gas, LLC’s retail business is in line with our continued growth strategy in North America,” said Direct’s John Schultz. “This transaction will mark a significant step in continuing to expand our operations and customer footprint in existing markets.”
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