The city where our company was founded. Principal of Ananta began his career in the Chicago land market-place learning about deregulation with the ComEd utility. Starting in December, 2006, Merrill watched small to medium businesses go through the first big price increase in January, 2007 (4.2 cents per kWh to 7.3 cents per kWh).
Fast forward 13 years, Merrill has nearly 13 years of industry experience and currently leads the company with industry experience, portfolio size, industry knowledge. The ComEd market-place has gone through a lot of different rates spread between different tariffs and rate-classes.
#2. Take care of yourself
Ananta discloses our margin from A-Z, so if you’re a 1099 Referral Partner who has a book of business in a deregulated state, you should really look into building a book of business in energy. Some might get lucky and hit a couple home runs depending on, “who you know,” but for the industry folks that are looking to make a career in the business, they can do it nice and slow. Transparent energy brokers have a few voids to fill in the market-place.
1. The market needs more transparent energy brokers. This levels the playing field where service is now considered a priority in addition to price.
2. A vast majority of consumers still don’t understand right from wrong. Our platform and business model starts with education. Our clients understand deregulation, the pros, the cons, and are educated consumers on the purchasing process.
3. Negative experiences can use some clean-up. General public still probably thinks Enron, and continues to hear negative press vs. positive press. We plan to change that. I encourage everyone to watch the Enron movie on Netflix to learn about some history of deregulation, and hopefully, our goal is to educate the public here on a lot of our success stories. At the same time, we welcome the opportunity to share with you some of our negative experiences (ie: Polar Vortex in 2014).
Some Chicago/ComEd History in layman's terms:
Rates for Commercial customers in the 0 - 100 kW class have probably paid an average rate of 7 - 8 cents. Rates for Commercial customers from 100 - 400 kW have a different story. Early in this market, those classes would typically pay an on/off peak rate, and we’ve seen them range on the high-end from 9.6 to 12.2 cents per kWh. After a few years, this class transitioned into Commercial Hourly, which is your, “time of day,” rate. This has a wide spread of 3.4 cents and 15 cents. It really comes down to the business and when they’re using a bulk of their hours.
To date, we currently manage 300+ commercial accounts in the ComEd, IL market-place.