The last few months have been very busy at GridPlus Energy. The team has been working tirelessly to build a high-functioning organization with customer satisfaction at its core. In less than nine months, we built a REP (Retail Electric Provider) from the ground up, on-boarded our Energy management team with more than 40 years of experience, integrated with strategic key partners, launched a pilot phase, and went live in the CenterPoint and Oncor Electric delivery markets in Texas.

GridPlus Energy is the only Texas REP that accepts cryptocurrencies as payment. We leverage the GridPlus tech stack and open crypto networks, such as Bitcoin and Ethereum, to bring next generation efficiencies to energy markets and welcome savings to our customers. GridPlus Energy also plans to radically change the energy industry by promoting intelligent electricity consumption.

We currently offer traditional fixed-rate energy plans, which are familiar to Texas customers. These plans can be found both on our website and, as of today, on PowerToChoose!

While we are certainly excited about our existing offers, we have already begun working toward more sophisticated options, such as a real-time indexed product. This product will not only be more transparent, unlike many offers presently on PowerToChoose, but will also provide customers the ability to react to real-time pricing, thereby reducing their energy bill. To those less familiar, prices can swing wildly in the real-time market based upon supply and demand dynamics resulting from weather, availability of power generation, distribution issues, etc. Throughout the year, the average wholesale price per megawatt (MW) is under $50/MW; however, the ERCOT capped limit is $9,000/MW which may be reached during times of exceptionally high demand.

The Lattice1 as a home energy control station

GridPlus is focused on providing customers more options for combatting price spikes. For example, in the near future a customer with real-time pricing may configure their Lattice1 to automatically adjust their thermostat whenever prices spike. This is known as “demand response” and, if used effectively, could drastically reduce the price volatility while avoiding smoothing costs incurred by standard, fixed price plans.

Our roadmap benefits both consumers and the environment by providing smarter energy consumption that adapts to market price fluctuations in real-time. Be on the lookout for these innovative products to launch late 2019 or early 2020!

Want to meet the team? Want to learn more? Feel free to join our Telegram group and ask questions, or find us at various energy conferences and crypto meetups throughout the year.

If you would like more information, please visit our website. We also invite you to email us if you would like to discuss how we are different from other Texas REPs. If you’re wondering about customer satisfaction, check out a recent tweet from one of our GRID redeeming customers who is enjoying her low energy bill.

Disclaimer

The forward-looking statements in this update are subject to numerous assumptions, risks and uncertainties which are subject to change over time. There are many risk factors, including those relating to blockchain and cryptographic technology generally, as well Grid+’s business, operations and results of operations, that could cause our actual results or developments anticipated by us not to be realized or, even if substantially realized, to fail to achieve any or all of the benefits that could be expected therefrom, We reserve the right to change the plans, expectations and intentions stated herein at any time and for any reason, in our sole and absolute discretion, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. ACCORDINGLY, WE RECOMMEND THAT YOU DO NOT RELY ON, AND DO NOT MAKE ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS UPDATE — INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF GRID TOKENS, ETHER OR ANY OTHER CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN, OR THE SECURITIES OF ANY COMPANY.