On the third biggest tv present of all time (sorry Rolling Stone), one of Texas’ most well-known fictional soccer gamers once said, “When all the scared rats are leaving a sinking market, that’s when a real entrepreneur steps in — a true visionary.”
If that’s the case, then the startup renewable energy retail reseller Arcadia could also be a real visionary. Even as energy startups servicing customers throughout the great state of Texas are forced to throw in the towel, the Washington-based, consumer-focused renewable energy energy supplier (based mostly on renewable energy certificates bought on the open market), is making an acquisition to enter the Texas market.
The firm is shopping for Real Simple Energy, which not solely marks the firm’s availability in all 50 states, however provides Real Simple Energy clients entry to each wind and solar energy producing initiatives. The firm stated it will leverage Real Simple Energy’s platform and experience to safe the finest charges for members, monitor for higher financial savings, and supply a better but less complicated energy expertise.
“Recent events in the Texas market prove that customers shouldn’t be exposed to wholesale or variable rates, and want an energy advocate to protect them,” stated Kiran Bhatraju, CEO and Founder of Arcadia. “Both Arcadia and Real Simple Energy recognize the challenges Texas homeowners and renters have historically faced in the energy buying process, and we remain committed to removing these confusing barriers.”
Texans have constantly paid extra for energy than customers that purchase their energy from regulated market contributors thanks to the state’s disastrously deregulated energy markets. The mixed corporations are pitching mounted price contracts to Texas customers that received’t be weak to invoice spikes, however will supply common financial savings above the flat charges regulated utilities supply.
“The deregulated energy industry, especially in Texas, has underserved customers and as a result, most customers overpay for electricity and receive poor customer service. Using technology, we are helping customers realize the promise of deregulation and always get the best fixed rates available,” stated Trent Crow, CEO of Real Simple Energy, in a press release. “As industry veterans, joining forces with Arcadia will allow us to get better deals for customers and enhance our customer experience. We manage 100% of the energy experience and become a customer’s independent agent and advocate so they never have to worry about their electricity bill again.”
The deal is Arcadia’s first acquisition and follows the firm’s launch of a community solar program all the method throughout the nation in the nice state of Maine.