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Retail Provider Says Focus Shifts To Brokering Generator, Retail Supplier Relationships, Withdraws Texas Retail Application

November 7, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Drift Marketplace, Inc. has withdrawn its application for a Texas retail electric provider certificate

In withdrawing its application, Drift, which has acted as an ESCO in New York, stated, "Over the course of this year ... and particularly since the initial May 2018 application submission, the focus of the Company's products and services has shifted from provider of electricity to retail customers to an approach targeting wholesale generators and offering brokerage services between generators and retail suppliers."

In New York, Drift had originally charged a subscription fee for a retail electricity product that passed-through wholesale generation prices, primarily from bilateral contracts, with supplemental purchases as needed. However, Drift has stated that it, "ceased requiring subscription fees from its products in Q2 of 2018." No current customers are charged subscription fees of any kind, Drift has said

In New York, until September 2018, Drift had offered two pricing plans, the "Best Savings Plan" and the "Clean Energy Plan". With the Best Savings product, Drift had committed to provide customers with as much renewable energy as is on the grid over their time span, with savings up to 20%/month, and up to 50% clean energy. With the Clean Energy Plan, Drift had committed to provide customers with 100% renewable energy, with savings up to 10%/month, compared to the default utility pricing. Both plans were offered on a variable price, month-to-month agreement with no cancellation or early termination fees, or credit card or other fees.

Drift has said that it ceased offering the Best Savings Plan to new customers in September 2018, "to focus the Company’s message of a 100% renewable future, and to also reflect the reality that all customers were being supplied with 100% renewable power, even if the customer had signed up for Best Savings."

Current customers who were on the Best Savings Plan will remain on the plan unless they choose to switch to the Clean Energy Plan or return to utility service.

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