RECs Marketer, Which Offers Free 50% Green Power, Entering Electricity Supply Brokering Business
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August 21, 2017 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
Arcadia Power, Inc. is seeking electricity supply brokering licenses in several states, including Ohio and Illinois, to serve all customer classes.
As previously reported, Arcadia Power offers a program under which it provides wind RECs equal to 50% of the customer's usage at no cost when customers enroll in the company's program under which the company acts as the customer's agent in paying the customer's utility bill
Under the program, customers authorize Arcadia Power to retrieve the customer's utility account information that is maintained online by the utility. Arcadia Power automatically pays the bill for the customer. Arcadia Power then itself separately bills the customer for the utility charges plus any Arcadia Power charges (fees or costs of an optional 100% REC offering which is priced at 1.5¢/kWh), using an auto-debit from a checking account or credit card. Customers pay Arcadia Power, not the utility, under the arrangement, and Arcadia Power will facilitate payment to the utility as the customer's agent and on the customer's behalf. There is a 3% processing fee to use a credit card or debit card. There is no fee to use a checking account.
In areas of Texas with retail choice, the program described above is not available. Arcadia Power still does offer such customers 100% wind RECs at 1.5¢/kWh, but such RECs are separately billed and customers must submit their average usage to Arcadia for purposes of calculating the RECs procured.
Arcadia Power also offers a community solar program
Describing its approach to brokering in its Ohio application, Arcadia Power, Inc. stated, "In becoming a broker, Arcadia Power aims to bring another option to residential customers who may not feel empowered to choose a competitive supplier by themselves. With our energy brokerage service, we will use the agency power the customer provides us, combined with our proprietary technology, to continuously monitor the market for the best competitive energy plans. We will switch the customer once we find a better deal unless they opt out."
In its Ohio application, Arcadia Power stated that it currently provides energy services to over 30,000 customers
Regarding its recently launched community solar program, in just over a year, Arcadia stated in its Ohio application that it has built 320kw of new solar
Earlier this year, Zach Axlerod joined Arcadia Power as VP of Energy Services. Axlerod had previously founded Skyline Innovations (Nextility), whose operations included energy supply brokering in addition to offering other energy services.