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Just Energy: Retail Suppliers "Will Only Stay Relevant If They Are Bundling"; Company to Launch New Bundled Service in PJM, Also Plans for "Demand Response Through Thermostats"
Retail energy suppliers, "will only stay relevant if they are bundling," Just Energy Executive Chair Rebecca MacDonald said during an earnings call Friday.
"[B]undling strategy is the future," MacDonald said.
Just Energy's current bundling strategy emphasizes its smart thermostat product, as well as green energy and carbon offsets.
As noted by EnergyChoiceMatters.com Friday, Just Energy has 19,000 customers with a smart thermostat bundle in Texas and Ontario.
"[I]t is our intention to bring that [smart thermostat product] into the PJM zone probably early in the new calendar year," said Just Energy CEO Ken Hartwick
Bundling, "is something we are very, very confident that is going to become a material part of our business over the upcoming years," Hartwick said.
Just Energy said that green supply now composes 18% of its mass market electricity portfolio and 9% of its mass market natural gas supply. For the three months ended September 30, 2013, 20% of new enrollments were green supply.
"This bundling has been key to maintaining our margins at a time of competition and falling commodity prices. As we move forward, we are looking for more bundling opportunities. We want to increase the number of points of contact with the residential customer ... through commodity sales, water heaters, furnaces, air conditioners, and smart thermostats," Hartwick said.
Hartwick specifically said Just Energy has plans for, "demand response through thermostats."
As noted Friday, Just Energy's gross energy marketing customer additions were slower during the quarter ending September 30, 2013, as the company emphasized customer profitability.
"We should become much more critical of what group of customers we want to keep ... we prefer to have one very, very profitable customer with [a] number of products from us, than three customers that don't give us high profitability," MacDonald said.
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November 11, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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