Discount Power Draws 50K Customers in Texas
Houston based Discount Power has disclosed that it crossed the 50,000 customer threshold early in February. At the same time, the company’s residential customer equivalent (RCE) exceeded the 100,000 mark.
An RCE represents the typical annual commodity consumption by a single-family residential customer (1,000 therms of natural gas or 10,000 kilowatt hours of electricity).This measurement is often used to help compare the size of energy companies. For example, if a retail electric or gas supplier, such as Discount Power, has 50,000 customers – many of them, commercial or industrial ratepayers – it can be said to serve 100,000 RCEs.
Volterra Energy Holdings – the parent company for a family of retail electric brands offering customer-focused products to consumers across Texas – acquired Discount Power in March 2014. Since then, the retailer has expanded from 800 customers to the current 50,000 mark; and from 2,250 RCEs to 100,000. What’s more, the company announced that its revenues for 2015 were greater than $50 million and projects these to double in 2016.
“Our goal to provide Texas customers ‘great rates, great service’ has provided us healthy returns,” commented Discount Power CEO Neville Ravji, adding, “Having been active in the retail electricity market since its inception, we believed that these are the only two things that matter to the customer.”
Ravji said that Discount Power has taken on a “no-nonsense, customer service-oriented approach that focuses on consumer wants and needs,” which includes providing low rates without hidden and deceptive language and top-notch customer relations.
In addition to what the company characterizes as “phenomenal growth,” Discount Power points to its A+ rating with the Better Business Bureau (BBB) as further testimony of the validation of this approach. Additionally, Discount Power is a final nominee for the 2015 Retail Energy Provider of the Year Award by Brooklyn-based event producer Energy Marketing Conferences.
This year, Discount Power said it plans to launch new market segments in Texas, in addition to introducing new products and initiatives in current segments. The company also plans to expand into new retail energy markets in the near future.
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