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MCALLEN, TEXAS -- CPL Retail Energy is taking action to help its customers hit hard by the dismal economy.

CPL will cut prices by 15 percent for its residential Direct Electricity Plan customers this month.

Effective February 27th, all residential customers on the Direct Electricity Plan will see their electricity prices reduced by 15 percent – resulting in average annualized savings of more than $360.

CPL is also launching a sweepstakes aimed at directly impacting nearly 100 customers’ pocketbooks.

All residential customers who are taking service with CPL as of March 31, 2009, will automatically be entered for a chance to win a month’s worth of groceries, up to $500, being awarded to 35 lucky winners; a summer’s worth of “free” electricity, up to $1,000, being awarded to 50 winners; or the grand prize of a year’s worth of mortgage payments (up to $40,000).