National Power update: Old deals will be honored

A message was just sent out by the CFO of Houston-based electric retailer National Power:

National Power Company has decided to rescind the scheduled rate increase set for late June 2008. All Fixed rate pricing and terms shall remain as originally agreed. National Power Company apologizes for any confusion caused by the rescinded letter. All customers to whom the rate increase letter was sent to will recieve additional confirmation via mail.

This is the company that we today reported had notified customers it wouldn’t honor the low rates many thought they had locked in.
Looks like the meeting company officials had with the Public Utility Commission today had some effect.

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