How does Griddy work?
We engineered smart energy tools that connect to your smart meter so you have direct access to the wholesale rate of electricity—never marked up. We don’t lock you into a contract, and we don’t have any hidden fees. Our mission is simple—to be the most transparent electric company in the energy industry.
What is the wholesale price of electricity?
Electricity prices are based on supply and demand, so they change every 5 minutes. The wholesale price of electricity is what it costs at the time you use it. Our members simply pay the actual cost of electricity at the time they use it—never marked up. In the long-run the wholesale rate nets out cheaper than any fixed rate plan, so our members save just by switching.
Will the wholesale price of electricity always be the lowest advertised rate?
No. There will always be an energy provider that is willing to lose money to get you to sign up—only to raise your rate after a period of time once they have you. The market is also full of misleading energy plans that provide reduced rates for very exact electricity consumption amounts that makes it very difficult for anyone to achieve. The wholesale rates will be cheaper over time.
What are price spikes?
Because the wholesale rate of electricity fluctuates, it’s possible that for a period of time, the wholesale rate is more than a fixed rate. However, the current data shows during the course of a year, the wholesale rate nets out far cheaper than any fixed-rate plan. And, while you might experience some price spikes, you will also get to take advantage of free, and even negative, prices at a much greater frequency. But don’t take our word for it—here are the stats:
In contrast, there were only 15 instances (totaling less than 4 hours) when prices exceeded $1/kWh, which is about a $15 increase for the entire year. For every hour that prices were greater than $1/kWh, there were 37 hours when prices were negative.
Additionally, as more and more wind and solar energy come onto the grid, the number of hours with extremely low prices will continue to grow significantly, offsetting those price spike fears even more. Between 2013 and 2016, the number of hours when prices were below 1¢/kWh doubled each year due to the growth in renewable energy.
How does Griddy help me become more energy efficient and save money?
You save simply by going Griddy—our members save on electricity compared to other plans just by getting access to wholesale prices. But if you want to save even more with Griddy, you can.
We built our platform with smart energy tools that connect to your smart meter, providing you with the wholesale rate of electricity and forecasts of future energy costs. Through our price alerts and forecast features, we let you know when prices spike and when they fall, so you can choose to optimize your energy usage and save even more if you’d like. Even if you don’t adjust your usage, you’ll save simply by being connected to the real-time rate.
I signed up to be a guest and loved it! Now, how do I become a member?
Now that you have taken Griddy for a test drive, you can finish enrolling here to make Griddy your official electric provider – and start paying for the wholesale price of electricity.
What’s the difference between being a Griddy member and a Griddy guest?
Our members pay $9.99 a month to get access to wholesale electricity prices and a really cool app that tracks usage. Basically, being a member means we are your electric provider – you pay the wholesale price and get the savings that come with it.
As a guest, you’ll be able to use our really cool app to see all that Griddy has to offer. You can check the wholesale price of electricity in your area, as well as see your estimated usage costs and savings (this is calculated based on your home type).
How do I sign up to become a member?
You can sign up online. The enrollment process is quick and convenient. There are no credit requirements or security deposits required. However, because we are a prepaid billing service you will be charged an initial amount of $49 when you sign up. This amount will be used to pay for your future electricity usage.
Do I have to enter into a contract?
No. There is no long-term commitment, and if you are not 100% satisfied with our service, you are free to leave at any time with no break fees.
Are there any other initial or one-time fees?
No. However, because we are a prepaid billing service you will be charged an initial amount of $49 when you sign up. This amount will be used to pay for your future electricity usage.
Do I need to pick a plan?
No. It’s pretty easy to get roped into a bad plan when there are so many options with so many factors. That’s why we have one membership, connecting you to the wholesale rate of electricity—never marked up.
Will Griddy pay the break fee of my current contract?
Unfortunately, no. However, most of our members found that they saved more by paying the wholesale rate with Griddy than they would have by waiting for their current contract to end.
How does Griddy bill?
Griddy only provides prepaid billing, which eliminates all of the costs associated with billing and collections in order to keep the price of membership as low as possible. With prepaid billing, everyone has access to the Griddy platform. There are no credit checks, no credit scoring, and no deposits required. Anyone can quickly and conveniently enroll.
You establish an account balance of $49 to pay for your future electricity usage. When your account balance reaches the minimum amount of $25, your account is automatically recharged using your card on file. You can customize your recharge amount (from $49 to $500) to better reflect your monthly electricity usage or budgetary needs.
Do I pay for credit or debit card processing?
Yes. For each credit or debit card transaction, Griddy must pay a processing fee to your credit or debit card provider. This is typically equal to no more than 2.9% + 30¢ per payment. These are passed through to you without markup, and even with this charge, Griddy still remains one of the lowest priced electric providers in the market.
If I’m designated as a Critical Care Residential Customer or Chronic Condition Residential Customer, can I sign up for Griddy?
Unfortunately, no. To ensure uninterrupted energy service, Texas does not allow Critical Care Customers or Chronic Condition Residential Customers to enroll in a prepaid billing service.