PURCHASE, N.Y., Oct. 4, 2001 — The New Power Companyâ„- today announced that the Electric Reliability Council of Texas (ERCOT) is processing the requests to switch the over 50,000 residential consumers which have chosen NewPower.
ERCOT is responsible for processing the requests to switch customers for all utilities and competitive retail electric service providers.
ERCOT will, as the next step, send notification letters to the consumers for their confirmation. Meter readings will then be performed by the utilities. The entire process can take anywhere from two weeks to two months, and it is then that consumers can actually begin to receive power flow from a competitive retail electricity provider.
NewPower has captured more than 50 percent of the customers who have decided to switch to competitive electric suppliers for the HL&P and TXU markets combined, and continues to sign on customers daily. ERCOT will process these enrollments as received.
About NewPower Holdings, Inc.
NewPower Holdings, Inc., through its subsidiary, The New Power Company, www.newpower.com, is the first national provider of electricity and natural gas to residential and small commercial customers in the United States. The Company offers consumers in restructured retail energy markets competitive energy prices, pricing choices, improved customer service and other innovative products, services and incentives.