Why you should pay what your electricity company pays

You should be paying the same rates for power as your electricity company.

Your current electricity company is sitting on a lot of your savings. We say your savings because we truly think they’re rightfully yours. It’s why we created Griddy, after all. To bring transparency to the energy industry and to give consumers back the savings they’ve been missing out on while their electricity company marks up prices, tricks consumers into signing up with deceptive pricing practices, and then pockets the profits.See, the price of electricity changes every 15 minutes. And every time that price drops to low, free, or below free, your electricity company makes money while you pay the same inflated, fixed rate that they’ve got you caught in. Why can’t you be getting the savings when electricity is free? Shouldn’t you be paying what electricity actually costs? Yes. And that’s exactly what you pay when you go Griddy.

The real-time price of electricity is the lowest price.

With Griddy, you pay the real-time price of electricity. That simply means that we don’t mark up or change a single rate: If the price drops to $0.001/kWh, that’s exactly what you pay. Of course, that also means that if prices spike, you pay the temporarily higher rate for electricity. Why isn’t this a problem? Because even when you factor in price spikes, the market price for electricity beats the retail electric providers (REPs)’ fixed-rate plan. Every. Single. Month. In fact, in 2016, the average Griddy user would have saved $477.98 when compared to the average fixed-price consumer. The reason for this is simple: Price spikes don’t happen that often, and when they do happen, they don’t last very long. In 2016, there were 37 hours when prices were negative for every single hour that prices spiked above $1/kWh. That’s a total of 139 hours that you would have gotten paid for your electricity use in 2016. All of those savings? Went straight to the pockets of your retail electric provider, who was busy providing you with your “safe” fixed rate.The reality: Fixed rates are never safe. Just fixed.

The real-time electricity membership model.

To make it possible for us to connect consumers straight to the source and give them real-time prices—never marked up and never convoluted with hidden fees—we came up with the membership model. Our members pay $9.99 per month to get complete, transparent access to the real-time prices of electricity—as if each individual were an electric provider buying straight from the source. The Griddy team engineered smart energy tools that connect to your smart meter. Through our simple, streamlined platform that you can access on mobile or desktop, you can see the current price of electricity as well as future forecasts of prices. If you want to use this information to save even more, you can decrease your usage during periods of high demand, but even if you don’t, you’ll still save a ton on electricity. And more importantly, you’ll always know what you’re paying. We built a simple, transparent platform because we thought consumers deserved more than deception and frustration when it came to dealing with their electric bill. We thought consumers deserved to have all the knowledge we did, and that they should get to pay what their electricity company pays for power.

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