Beware of Reliant Power "promotion" for new contract rates.

Signed into my Reliant account today to check my bill and was hit with a promotional splash page before getting to my main account page. The promotion was advertising a 24 month fixed Kwh rate that was "lower" than my current rate. The new contract rate would be 19 cents per Kwh while the promotion claimed my current rate was estimated at 22 cents per Kwh.

Sounds like a deal right? That is until you realize that my current rate averages out to a little under 16 cents per Kwh and their "estimate" of my current rate was complete BS. I then went and checked actual contract rates and secured a new contract at the 16 cent rate (that includes transfer fees, actual rate is more like 10 cents but there is about 5 cents per Kwh from Center Point).

So yeah Reliant's promotion would have locked me into a contract rate about 20% higher than the actual going contract rates.