My 10 year old tank was listed in the letter with a buyout of $700 !!!!!!!!
That's the cost of a brand new tank of the same size at Home Depot.
My 12 year old tank was listed as ~$300 in the guide. I called their buyout department and requested a buyout quote. They took 4 days to get back to me but the final amount was $114+ tax. I bought it. In 5 months this thing is paid for. If it dies beforehand, I'll replace it like any other appliance.
My parents had a 15 year old rental water heater start malfunctioning late last year (the fan started buzzing before eventually dying altogether). When we called DE to repair THEIR water heater, they refused and insisted on replacing it. The catch was my parents had to pay $180 to replace the exhaust piping as the standards had changed since the original house was built (1996). Well, I told them it should be their responsibility to make their tank work. After much haggling, they reduced the price to $125 but refused to waive it altogether. After 15 years of renting, the one time my parents call for service, they have to pay?? Shortly after that incident, I decided I also wanted nothing to with Direct Energy.