Retail Energy Shopping Website Allowing Customers to "Name Their Own Price"

Torch Energy Solutions is launching an online retail energy shopping website which will allow residential customers to "Name Their Own Price"

Torch is rolling out the site, www.torchenergy.com, in deregulated energy markets across Texas on August 4. Over the course of the next few months, Torch will continue its expansion to other deregulated markets across the United States. Torch also lists the U.K. and Australian markets as targets for expansion

On the website, Torch asks customers to enter their zip code and name their price per kilowatt-hour. If the entered price matches a pre-existing plan offered by retail electricity providers in the customer's area, Torch immediately connects the customer to it. If there is no immediate match, Torch will attempt to match the customer with a provider within 24 hours. If no match is made, Torch returns with plans currently offered closest to the desired rate.

Torch Energy Solutions is led by CEO Amy Gasca, a 25-year veteran in deregulated energy and former executive at several retail providers including Entrust Energy and Constellation NewEnergy.

Amir Eskafyan, who previously worked at Choice Energy Services, serves as Chief Product Officer. Mohammad Anwar, who founded interactive marketing and technology firm Softway Solutions, serves as Chief Technology Officer.

Torch is specifically targeting "Millennials" and "Generation X" with the site -- "the population between the ages of 25-34 and 35-44 who are technologically savvy, and seeking to be empowered in their purchases."