Start-up Texas Retail Provider Seeks License, Will Offer "Subscription" Service, Wholesale Pass-Through

Start-up Evolve Energy applied for an Option 1 Texas retail electric provider certificate

On its website, Evolve Energy indicates that it will offer customers a pass-through of wholesale rates, with the customer's bill reflecting the energy cost, distribution cost, and a "subscription" cost. "Buy your energy at the real-time market price without a markup," Evolve Energy states on its website

"We combine real-time power prices with energy saving technology," Evolve Energy states on its website

Evolve Energy on its website states, "We built evolve because we believe that transparency is king. And there is nothing more transparent than paying the real-time rate. Our confusing energy structures are legacy products. Energy companies have made much money on hiding fees and costs into fixed price contracts. By passing through the real-time wholesale price, our customers get ultimate transparency. Evolve will be your partner in energy, not only by passing through the real time rate but also managing your exposure to peak prices while taking advantage of the near-zero pricing we see so often during the day. Didn’t realize that wholesale power prices are near-zero cost for many hours during a month? That’s because that is how many of these energy companies make their money. At Evolve, we partner with you to reduce your price and volume of energy consumed, using advanced technology to be a strategic tool historically only available to the largest industrial clients."

Evolve Energy states on its website, "Your Smart Home Reacts In Real Time. Connect your internet of things devices and our system automatically adjusts your power usage depending on price."

"By integrating real-time prices and internet of things along with carbon data, weather data, your location and other signals, you manage your energy, your way," Evolve Energy states on its website

Evolve Energy states on its website that when prices rise, Evolves turns off A/C, dims lights, and closes blinds. The reverse happens when prices fall.

Michael Lee serves as CEO of Evolve Energy. Lee has a background in renewable energy development and distributed energy, having co-founded and served as CEO of solar developer Pacific New Energy and having held business development and strategy positions at SunEdison and First Wind

Samit Shah serves as president of Evolve Energy. Shah was previously co-founder and CEO of Persource, a mobile app developer.

Retail market veteran Rebecca DuPont serves as VP, Operations at Evolve Energy

Evolve Energy sought authorization to have the option of collecting deposits or advance payments from customers