"A New Kind of Energy Company," With Prosumer-Focused, Energy-As-A-Service Retail Supplier Model, Receives Finding That Initial New York ESCO Eligibility Requirements Have Been Met

June 22, 2020

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Reporting by Paul Ring • ring@energychoicematters.com

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New York Department of Public Service Staff recently informed David Energy Supply, LLC that all requirements for its initial state of its eligibility determination as an ESCO have been satisfied.

DPS Staff, in a May 19 letter recently made public, informed David Energy Supply, LLC that, "Please be advised that you may now continue with the utility approval state of the eligibility process by contacting those companies in whose service territories you intend to participate. The utility stage normally consists of a creditworthiness determination, completion of EDI Phase III Testing and the execution of any operating or billing service agreements. Each utility’s eligibility requirements pertain to only their retail access programs. Once you have satisfactorily completed the utility eligibility stage, Staff will be notified by the utility of your success. Please notify Staff of the actual production date in the utility service territories you intend to enroll customers. At that point Staff will confirm your final eligibility requirements have been satisfied."

David Energy's launch had been exclusively first reported by EnergyChoiceMatters.com in November 2019. As previously reported, David Energy has indicated that it will pass-through wholesale power costs procured for customers at no mark-up

"David Energy is a new kind of retail electricity provider whose software-driven approach slashes costs while simplifying the energy management process," the company said in recently announcing the close of a $1.5 million Pre-Seed round co-led by Box Group and Greycroft (see details and more background on David Energy here)

"David Energy has developed a proprietary software platform that utilizes machine-learning to act as the Energy Operating System for buildings and modernize how customers purchase energy. Used by commercial and industrial owners and operators, the company's platform was developed to streamline wholesale energy purchasing, report sustainability metrics and optimize Distributed Energy Resources such as smart thermostats, battery storage, and solar according to a building's unique needs," the company recently said

"David Energy is taking a different approach than traditional REPs in how they charge customers. By taking a flat SaaS fee instead of a large markup on the amount of power procured, David Energy has true financial incentive alignment with customers to keep them happy, lower their energy bills, provide transparency, and minimize consumption," the company recently said

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