Direct Energy Launching Electric Broker, Concierge Shopping Service
June 16, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
Bounce Energy, Inc. applied for a Pennsylvania electric broker/marketer license to serve all customer classes in all service areas
In its application, Bounce Energy states that, "Bounce Energy, Inc. is part of the Direct Energy family, [sic] Bounce Energy Inc. is wholly owned by its parent
company Direct Energy Marketing, Inc., which in turn is wholly owned by Centrica plc."
In its application, Bounce Energy states that, "Bounce Energy intends to assist customers in finding energy products and solutions to meet their personal goals."
In its application, Bounce Energy states that, "Bounce Energy will collect a fixed monthly fee from customers."
On its website, Bounce Energy indicates that the monthly fee will be $9.99
Bounce Energy's website indicates that it will offer a concierge-like service, acting as the customer's agent and searching and placing customers with a specific plan(s).
"You sit back and save, with the assurance that Bounce Energy is always on the hunt for better rates that will save you money," Bounce's website states
A terms of service for Bounce Energy states, "Bounce monitors offerings by various electricity and/or natural gas suppliers licensed in by your state utility commission ('Supplier(s)') and acts as your agent in the purchase of electricity and/or natural gas from such Suppliers (collectively, the 'Bounce Services' or 'Service(s)'). Monitoring may be based on historical rates, publication of forward rates, third-party forecasts of forward rates, current contract rates, where available, and your estimated usage. The goal of our Service is to identify offers that you are eligible for and to enroll you in an electricity plan with an annual total cost that is equal to or lower than your Standard Offer Service with your utility, for a monthly service subscription fee of $9.99 per meter ('Service Fee'). 'Standard Offer Service' refers to the electricity and/or natural gas supply services sold to you by your standard utility company ('Utility'). If, at the end of 24 consecutive billing periods, you have paid more than you would have paid on Standard Offer Service, Bounce will reconcile your account and will either refund to you or provide bill credit(s) equal to the difference, which shall be at Bounce’s sole discretion. To determine the amount you would have paid on Standard Offer Service, Bounce will multiply your actual usage (in kilowatt hours and/or ccf/mcf/therm) by the actual Standard Offer Service rates (per kilowatt and/or ccf/mcf/therm) during such billing periods."
Bounce Energy's website states, "Bounce Energy is one of Pennsylvania’s only full-service utility brokers. What does that mean? We find you a better energy rate and switch your energy supplier for you."
Bounce Energy's website states, "Once we get your bill from your current supplier, we analyze your current rates and fees and search for better rates among competitive retail suppliers in your area. Then, we compare your current rate to the rate we select for you to determine how much you’ll save."
Bounce Energy's website states, "Bounce Energy operates under the Direct Energy brand, which is part of Centrica LLC [sic]. But we’ll never favor our affiliated suppliers over suppliers that can save you more. Our promise and our purpose is to save you money."
Direct Energy previously used the Bounce Energy brand name for a retail supplier brand (having acquired the brand through an acquisition), but later ceased using the brand Bounce Energy for a supplier (ceasing use of the Bounce brand in its final market, Texas, last year, as previously reported)
Direct Energy is the latest retail energy supplier to form (or in the cases of certain other companies, acquire) a broker. As previously reported by EnergyChoiceMatters.com, suppliers (or their parents) who have recently formed or acquired brokers have included: