Mega Energy has recently announced its exit from the competitive Texas retail electricity market. Fortunately, the company has safeguarded its customers by signing an account changeover agreement with a former competitor.
TXU Energy, one of the leading retail electricity providers in Texas, will take on Mega Energy's roughly 10,000 business and residential customers in the Texas area. Former Mega Energy customers are promised rates at or below what they were paying Mega Energy for the supply of electricity. Likewise, customers' remaining contract term lengths will not change.
Once a former-Mega Energy contract expires, customers have the option to sign another contract with TXU Energy or to choose another retail electricity provider that offers lower electric rates.
Mega Energy customers in Texas can expect to see a welcome package from TXU sometime in January that explains the transition, service plan details, and the advantages of TXU. Customers can still access their online Mega Energy accounts and are still obligated to pay bills from December and January (depending on the meter reading date).
Mega Energy customers outside of Texas will not be affected by this transition.