News | April 19, 2017

Griddy Launches Next-Generation Energy Company For Texans

HOUSTON--(BUSINESS WIRE)--

Griddy (www.gogriddy.com), the smart energy company, today launched an innovative electricity platform in Texas that gives consumers access to wholesale electricity prices for a flat monthly membership cost. Griddy is powered by an intuitive mobile app that gives consumers near real-time insight into and control over their energy usage and costs.

In the proud tradition of Texas energy innovation, Griddy is reinventing the retail energy model by connecting its members directly to the wholesale cost of energy, bypassing expensive middlemen. With Griddy, Texans get a clear understanding of their energy costs at all times—with no hidden fees—as well as unparalleled customer service and dynamic tools to thoughtfully manage and reduce energy costs.

For $9.99 per month, Griddy membership benefits include:

  • Access to wholesale energy markets at prices only previously enjoyed by energy companies—members enjoy savings of up to 32% off their entire energy bill.
  • Pay-as-you-go billing, no hidden fees, with the freedom to switch at any time without incurring cancellation fees.
  • Near real-time usage information, including daily energy consumption and accrued electricity cost.
  • In-app tracking of real-time fluctuations in energy prices–called price alerts–so members can further increase savings and choose optimal times to perform energy-intensive tasks, like doing laundry, running a dishwasher or charging an electric car.

As part of the launch, Griddy is offering a free month of membership to all new members on gogriddy.com .

“Texas’s residential electricity system looks like a snake pit,” said Gregory Craig, co-founder and CEO of Griddy. “Hundreds of retail energy providers focus on attracting customers through flashy deals, and then see 40% annual turnover because they haven’t invested in keeping customers happy for the long-run. Griddy is built on an entirely new philosophy that energy providers should be transparent, less expensive, environmentally friendly—and even fun. Make no mistake: Griddy is here to revolutionize the energy market for good!”

The company is launching in Texas, where residents face the fifth-highest energy bills in the country. The Texas Coalition for Affordable Power reports that since the majority of the Texas energy market became deregulated in 2001, residents in these areas pay nearly 15 percent more than residents in areas with regulated utilities. According to a recent survey by Lab42, sponsored by Griddy, nearly two-thirds of Houstonians say they don’t understand their bill in its entirety. Additionally, about half say that lowering energy costs is the primary area of improvement they want from their current REP, and 42 percent say they want improvements in transparency, timeliness and accuracy of rate and energy usage information.

With Griddy, members can capitalize on the trend of more renewables powering the grid, which pushes wholesale electricity prices lower. According to historical ERCOT energy data, in 2016, there were 555 instances (139 hours) when prices were negative–and Griddy users would have actually gotten paid for their energy consumption. Simply put, for every hour that prices were greater than $1 per kilowatt-hour (kWh), there were 37 hours when prices were negative.

New Griddy members are already excited by the promise of realizing savings and more control over their energy usage. Amy Frenza of Houston, Texas, says: “Instead of choosing another utility provider with unclear costs and hidden fees, I decided to sign up with Griddy. Griddy gets rid of the middleman so that I only pay what the energy provider pays! They also have an app that lets you see how much electricity you are using and what the price of electricity is at that particular time of day, so I can control how much or how little electricity I want to use for the A/C, washing machine, and more, at any given time.”

The Griddy app is available for both iOS and Android systems. Make the switch now at gogriddy.com and get your first month of membership free!

About Griddy

Griddy is the smart energy company for consumers who want to save on their energy bills. We bypass the middleman, connecting you directly to the lowest available energy prices. Griddy puts the ultimate in energy savings in your hands, delivering real-time energy usage information and price alerts right to your smartphone. Because better data means bigger savings.

Griddy is available for both iOS and Android systems. Ready to make the switch? Visit gogriddy.com.


Copyright Business Wire 2017