Original publication date of 8/1/2019
We've been asked how our service compares to Griddy. The answer is...it doesn't. Comparing Energy Ogre and Griddy would be like comparing apples and oranges. That's because, unlike Griddy, Energy Ogre is not an electricity provider.
We are an electricity management company. We enroll our members with retail electricity providers (REPs) offering the most competitive plans available. Energy Ogre selects plans based on our member's unique usage and preferences.
We also serve as their member service, so they always have someone on their team to help if issues arise. The only similarity between us happens to be that we are both subscription-based companies. Regardless, we wanted to set the record straight for those who are curious.
How does Griddy work?
Griddy Energy offers its members no contract electricity service at an indexed rate directly tied to real-time wholesale energy pricing. The real-time wholesale price gets calculated every 5 minutes, depending on supply and demand. For instance, when everyone's air conditioner runs at the same time during the hot summer, the price increases.
Late at night when most people are sleeping, the price tends to drop. The price also varies by region. It can be affected by other variables, such as the cost of natural gas and weather patterns. Frequently, the "wholesale" rate comes out cheaper than those offered in fixed-price retail contracts.
When the "wholesale" rate spikes, however, it happens during times of very high demand when you might be unwilling or unable to change your usage. In these instances, you are charged at a very high rate.
The price can surge to as much as $9.00 a kilowatt-hour in Texas. While it's rare, it does happen. With Griddy, consumers pay the real-time electricity rate, whatever it may be. Griddy passes on the 'wholesale" cost to its members without markup because they have passed on all the risk to them as well.
The benefit of a fixed-rate retail contract is that the retail electricity provider assumes the risk of price spikes during the contract term. Griddy's app does send a push notification during a price spike, but only if it goes above $0.30 per kWh for a 5 minute period. You'll need further integration from IFTTT if you want to customize the alert.
How much does Griddy cost?
Consumers pay Griddy a "flat" membership fee of $9.99 per month in return for access to the real-time wholesale market. The real-time price changes every 5 minutes and Griddy bills its members every 15 minutes.
They calculate the average of the three 5 minute intervals within that 15 minutes and multiply that cost by the kilowatt-hours used for that period. Their pay-as-you-go structure charges your prepaid account for the cost of electricity when you use it, plus any delivery company fees, and taxes.
You're billed each day as you use electricity. The account tied to your debit or credit card will automatically recharge when it drops below $25. The minimum recharge amount is $49, but you can set it to recharge any amount up to $500.
*Currently, Griddy only accepts debit or credit cards and they pass on the merchant fees to their members. They charge up to 2.9% of each payment you process with them plus $0.30 cents per transaction. If you're using Griddy, you'll want to factor this into your overall effective rate along with your delivery company charges.
How does Energy Ogre work?
Energy Ogre's system of proprietary technologies monitors the electricity market and stacks together rate program scenarios that would best fit a member's unique usage profile. We take all plans into consideration, including exclusive pricing that we receive from REPs on a member by member basis.
Energy Ogre members are placed in plans that are lower than the Texas average AND the vast majority will still come out better in the long run than if they use Griddy. Using the member's consumption and preferences, we select the option that best suits their needs.
We enroll them in the plan and ensure the whole contract process goes smoothly. And when the contract expiration date comes up, we do it all over again! Energy Ogre currently places members only in fixed-rate, fixed-term contracts. There are no hard credit checks involved in the process. REPs do run soft credit checks, which won't reflect on a credit report, to determine if a deposit would be required.
We continuously monitor each member's consumption against the market. If a better option becomes available, after factoring in any early termination fees, we let them know. And if our members ever have any issues, rather than calling the retail electricity provider and waiting on hold, they just call us!
Energy Ogre wants both consumers AND REPs to be successful. We want REPs to make a reasonable margin and remain strong. (It isn't good for the health of the marketplace to have providers going out of business.) However, we ensure REPs remain fair and honest on behalf of our members. Year after year, our members rely on us to take care of their electricity needs, so they can save their time and energy for what matters most in life.
How much does Energy Ogre cost?
Energy Ogre membership costs $10 per month or $120 per year, charged accordingly to your debit or credit card. We charge no additional fees or taxes. Our members continue to receive statements from the electricity providers we enroll them with. They have the option to manage their payments on their own or elect for us to manage them with automatic payments. We also back our service with a 100% satisfaction guarantee.
So what's right for me?
Most people who work a normal job without a fully automated home, can't just go home and turn things off on a whim. If you don't already have full home automation, you can spend a pretty penny installing the devices needed to make Griddy work for you.
At the end of the day, it's what you as a consumer prefer. If you are interested in being more hands-on with your consumption and are willing to accept the risk involved, Griddy can help. If you don't want to spend the time shopping and managing your contracts, but want price protection and someone in your corner if issues arise, Energy Ogre has your back.