Griddy Seeks Retail Supplier License In Northeast State, Plans Pay-As-You-Go Product With Initial Prepayment, Minimum Account Balance Requirement

Griddy Energy LLC, known for its real-time wholesale pricing retail electricity product in Texas, has applied for a Pennsylvania electric supplier license to serve all customer classes in all service areas

In its Pennsylvania application, Griddy noted that it is currently serving approximately 28,000 residential and commercial customers in Texas

Notably, in its Pennsylvania application, Griddy stated, "Applicant will offer a full suite of fixed rate, variable rate and time-of-use electric products, including products supported by renewable energy certificates."

Griddy included with its application a sample standard mass market contract summary for a plan that would be the PJM LMP price plus costs associated with renewable energy portfolio standards obligations, ancillary and capacity charges, transmission charges, and required taxes and fees, plus a monthly subscription fee of $9.99.

The sample contract summary also states the plan is a pay-as-you-go service

Under "Deposit Requirements", the sample contract summary states, "Customer will be billed directly from Griddy for all electricity supply charge. Customers must establish an initial connection balance of $49 upon enrollment to establish pay-as-you-go service ('Connection Balance')."

A sample terms of service further provides, "Griddy only offers pay-as-you-go billing, which requires you to prepay your electricity supply charges by establishing a Connection Balance of $49 and maintaining an Account Balance of at least $10 at all times."

The sample terms of service further provides, "Your Account Balance must remain higher than the Disconnection Balance. If your Account Balance falls below the Disconnection Balance, Griddy may terminate this Agreement upon prior written notice and return you to the utility default service."

Earlier this week, EnergyChoiceMatters.com first reported that Griddy had applied for membership in PJM in the Other Supplier category