ReallyObjective, a startup in Ohio, claims to save users money by proactively switching them between energy suppliers as often as every month, work, according to Cleveland.com. It is a digital shopping tool that checks thousands of prices daily on the websites of gas and electric suppliers, changing a customer’s supplier as often as every month.
While the service has been tested with consumers, it can also be used by small businesses.
Often, when a customer is enticed away from its usual utility by the promise of reduced prices, they end up losing money, sometimes because they don’t pay attention when the independent supplier puts them on a monthly variable rate, or simply because market prices change over time, according to the article.
Because of these fluctuations, most aggregators negotiate prices for shorter time periods, often on a quarterly basis, hoping to increase consumer savings.
The ReallyObjective system adjusts for contract exit fees and only switches participants to a new provider if they would benefit. The firm takes half of the estimated savings as its fee, and donates 5 percent of that to the charity of the user’s choice.
The Public Utilities Commission of Ohio has certified ReallyObjective as an aggregator/broker for gas and electric customers.