Qualified and reliable subscribers act as low risk factors to community energy project owners. But as this past year has shown everyone, unforeseeable changes and loss can happen to even the most seemingly secure people and organizations. Even solid subscribers may move or experience an unexpected default — leaving independent power producers (IPPs) empty handed until new subscribers claim the allocations. Risks of default and attrition are omnipresent, but Gridwealth uses smart technology to mitigate those risks unlike anyone else.
Gridwealth is a distinguished community energy service provider with exclusive insight to historic and current customer consumption direct from utilities. Our status as a retail energy provider grants us access to electronic data interchange (EDI), and allows us to compare usage to previous months, identify changes in consumption patterns, and react to customer attrition and default before they happen. In addition, we constantly monitor the credit and business health of our offtakers throughout the lifecycle of their agreement, not just on the day that they contracted with us. This provides an additional layer of information, so if an offtaker is going through a rough time and in danger of default, we know it before it happens and can make necessary adjustments.
Electronic Data Interchange (EDI)
With our full suite of energy services that go beyond community energy subscriptions, we are able to offer uniquely elevated community energy services that translate into more qualified subscribers and better insight into their electricity patterns. Not only are we host to a continuously expanding network of qualified subscribers, but we bring smart technology to customer acquisition and management. To start, we use EDI linked Utility data to accurately size credits through instant historic usage results. From there, we continually monitor each customer’s electricity consumption and business credit patterns to identify potential issues before they happen. When a discrepancy is found, we’re able to work with the customer before our IPP partners lose out. If a subscriber ultimately needs to be replaced we’re able to tap into our existing customer base to fill the project rapidly.
Because of our valuable insights, efficient practices, and utility relationships, we guarantee that our IPP partners get paid in full, or we waive a proportionate amount of our fee. EDI and business credit monitoring allow us to react to a potential default or attrition event before it happens, and our rich network of reliable and eager customers makes customer re-acquisition swift and painless. This is all available through our state of the art revenue and customer management platform and serves as a source of transparency and accountability to honor our guarantee.
We at Gridwealth are veterans of the energy industry. With our deep-seated knowledge and experience, we have curated the safest and most efficient offerings possible. While there is risk involved in any major project, like the development and maintenance of a community energy project, our unique position and subsequent competitive advantages serve as a safety net for our partners.
For more information, contact Gridwealth.