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Green Mountain Energy Company Introduces New Renewable Energy Product in Pennsylvania

Posted on: Tuesday, 11 October 2005, 12:00 CDT

Company Creates Innovative Opportunity for Consumers to Continue Supporting Renewable Energy

Green Mountain Energy Company announced today the introduction of a new renewable energy product for Pennsylvania customers. The new product will give Pennsylvania customers the opportunity to support the development and growth of renewable energy at reduced costs to what they are paying today.

The product will help avoid a portion of a home's carbon dioxide (CO2) pollution, a step in the right direction to preserving the environment for future generations. The new product launch coincides with the decision by Green Mountain Energy Company to no longer provide electric generation service to approximately 30,000 residential and commercial customers in Pennsylvania.

"We think this is a tremendous win-win situation for our current customers in Pennsylvania," said Paul Thomas, CEO and president of Green Mountain Energy Company. "Current regulatory and market conditions have led to this evolution of our Pennsylvania business. By discontinuing electric generation service and providing this renewable energy option, our customers will see a lower electricity bill and will be able to continue their support of renewable energy growth and the building of new renewable facilities across the nation."

Thomas continued, "Our Pennsylvania customers were among the first supporters of renewable energy in the nation. We want to reward that loyalty."

The new product from Green Mountain Energy Company will sell for just $9.95 a month (or $99.95 for an annual subscription). Through the purchase of this new product, Green Mountain Energy Company ensures that 500 kilowatt-hours of electricity per month is generated from 100 percent wind resources and delivered to the national power grid. By purchasing this new product for a year, a customer can help avoid more than 8,000 pounds of CO2 pollution -- equivalent to not driving a car more than 9,000 miles.

Customers will be notified via letter beginning next week of the new product offering. Additionally, the letter will detail steps current Green Mountain Energy Company customers in Pennsylvania need to take in regards to their electric generation service. This transition will not result in an interruption in electricity service for Green Mountain Energy Company's Pennsylvania customers. Customers may select another provider or their service will automatically return to their local utility.

For more than eight years, Green Mountain Energy Company has been active in developing competitive markets across the U.S. Green Mountain Energy Company began selling cleaner electricity to customers in Pennsylvania in September 1998.

"Consumer demand for cleaner, renewable electricity products is growing rapidly across the country. As the leading retail provider of cleaner electricity products, we will continue to support the development of markets for cleaner, renewable energy with innovative products and services that reflect customer needs," Thomas concluded.

About Green Mountain Energy Company

Founded in 1997 to change the way power is made, Green Mountain Energy Company (www.greenmountain.com) offers residential, business, institutional and governmental customers the choice to support cleaner electricity generated from sources such as wind, solar, water, geothermal, biomass and natural gas. The company is based in Austin, Texas.

NOTE TO EDITORS: In the term "CO2" above, the "2" is subscript. It was changed for transmission purposes only.

Source: Business Wire

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