First Choice Power Launches 'Next Generation' of Prepaid Electric Service

Company is First to Offer Meter-Based Prepaid Product That Makes Switching Affordable

Jan 11, 2010, 10:00 ET from First Choice Power

IRVING, Texas, Jan. 11 /PRNewswire/ -- First Choice Power today announced that it has launched a prepaid electricity service called Control First(TM). The service allows customers to sign up for electricity service with no credit check, no contract and no costly deposit, eliminating barriers to switching as well as providing customers with complete control of their electricity usage and payments.

First Choice Power is the first affiliated retail electric provider in Texas to offer residential prepaid service based on actual daily usage from an advanced or "smart" meter, unlike other providers in the market that bill estimated usage.

"Control First is the first prepaid product that really lets customers take control of their electricity costs and manage their usage," said Brian Hayduk, president of First Choice Power. "This is the next generation of prepaid products giving customers more visibility, more flexibility and more information so that there are no surprises at the end of the month."

Select First Choice Power customers are prepaying for their electric service for the first time this month. Control First customers receive regular updates with unprecedented access to their usage and account balance by cell phone or e-mail at daily or weekly time intervals determined by the customer.

"First Choice Power's Control First is a true prepaid product," Hayduk said. "With Control First, you decide how much you will pay and when to make your payments. With no minimum payment requirements, you have the flexibility to best manage your budget according to the amount of electricity you use."

The offer will be made more broadly available later this year as more customers are able to take advantage of the smart meter-based service. There are about 800,000 installed smart meters in Texas, with stated plans by transmission and distribution companies to install an additional 1.6 million in 2010 with more added in subsequent years to total 5.7 million in 2013. Customers must have an advanced meter to be eligible for Control First.

"First Choice Power is actively working to develop product offerings and enhancements that will open up a wide range of information and automation capabilities for Texas consumers," Hayduk added. "These products and enhancements will allow First Choice Power customers to understand more about how, when and why they use electricity -- giving them the information they need to manage and reduce their energy consumption and cost."

About First Choice Power

Based in Las Colinas, Texas, First Choice Power is one of Texas' largest retail electric providers. It is a subsidiary of PNM Resources, an investor-owned energy holding company that also owns TNMP. For more information, visit www.FirstChoicePower.com.

First Choice Power Special Purpose, L.P. | PUCT REP Certification No. 10008

SOURCE First Choice Power



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