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MeterGenius

MeterGenius. 2014 Clean Energy Challenge. The Mission.

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MeterGenius

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  1. MeterGenius 2014 Clean Energy Challenge

  2. The Mission “To give people the tools and tips they need to save electricity and money, as well as to help competitive electricity suppliers improve customer acquisition and retention by providing value-added energy management services for residential consumers.”

  3. Regulated Market Deregulated Market Retail Suppliers Utility Company

  4. Deregulated Market Retail suppliers face: 25-50% churn rate and $110 per new customer Retail Suppliers

  5. 9.5 million (2012) 23 million (2015)

  6. The Product • Visualize monthly consumption in real time • Set and track an energy budget • Compare usage with friends and neighbors • Get energy saving tips and electricity bill rebates

  7. The Rewards • Users earn reward points through different behaviors • Setting a budget • Reducing electricity consumption vs. predicted amount • Renewing a supply contract • Users redeem points for products, gift cards, or credit on a bill

  8. Retail suppliers face: $0.10 / kWh price to resident vs. 8x or more peak wholesale price  Significant benefit to retailers if peak demand drops

  9. The Demand Response • We push alerts to customers (app, text, e-mail) in advance of high demand times • Users agree to reduce consumption during specified time • Smart meter data is used to verify demand reduction • Savings is calculated and split between supplier and consumer Voluntary Demand Response

  10. 2. Push VDR alert 1. Hot day (high electricity prices expected) 4. Supplier shares savings with consumer (reward points) 3. Customer curtails use & supplier saves money

  11. Increased Customer Lifetime Value Baseline With average household consumption and electricity prices, assuming 15% increase in customer retention

  12. Additional Value From Demand Response Retailer recoups ~$30 per year from each participating demand response customer.

  13. Phase 1: Develop Web Platform Build front end and back end web tool with data processing and budgeting functions 4Q 2013 Product Maturity Time

  14. Phase 2: Pilot Basic Product Test the product with an electricity supplier to demonstrate customer retention benefit 1Q 2014 Product Maturity Time

  15. Phase 3: Implement Demand Response Product Maturity Pilot voluntary demand response functionality 2014 Time

  16. Summary • We convert smart meter data into useful forms for residential consumers • We provide the data to customers through an interactiveweb platform • We reward consumers for saving electricity and engaging with their electricity supplier (increasing customer retention) • We offer a mechanism for additional savings through voluntary demand response

  17. Team

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