Ambit Energy launches prepay energy plan for Texas


Jere Thompson Jr,
CEO, Ambit Energy
Dallas, TX, U.S.A. — (METERING.COM) — May 25, 2010 – Texas retail energy provider Ambit Energy has launched the Ambit Smart Plan, offering customers with smart meters a prepay plan to purchase their electricity and monitor its usage in real time online.

The plan, which was created for consumers who have low credit scores or who do not utilize traditional financial services, is currently available in the service areas of Texas’s two largest utilities Oncor and CenterPoint. These two companies have already installed more than a million smart meters, with an additional million expected by the end of the year.

With Ambit’s Smart Plan, customers’ usage is monitored every 15 minutes. Ambit alerts customers via email or text message with important account information and sends updates on how much electricity they have remaining, and customers can manage their accounts and prepay for electricity online.

“This real time technology has dramatically lowered the credit risk built into traditional prepaid rates,” said Ambit Energy CEO Jere Thompson Jr. “As a result we’re able to offer a prepaid, no deposit product to smart meter customers, at a savings that allows them to continue to buy groceries after they pay their energy bills.”

In a statement Ambit Energy said the plan is ideal for the growing segment of underbanked consumers, which in Texas amount to about 36 percent of households, according to the Federal Insurance Deposit Co.