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Twenty years ago, a handful of U.S. states introduced reforms aimed at increasing consumer choice in the energy sector. For the first time in over a century, consumers in these states now had options when it came to where they got their energy.

Today, consumers in these states maintain this ability to “shop around” for energy. And while large companies have taken advantage of these competitive markets through the use of services that monitor energy prices daily — there hasn’t been a convenient and accessible avenue for residential consumers to participate.

The current system requires residential consumers to put significant effort into researching and understanding the market, monitoring ever-evolving rate fluctuations, and ultimately switching to a new supplier who they may not know or trust. This complex process is simply not a priority for most Americans who spend on average 8 minutes a year thinking about their utility bills.

But what if there was a free digital service that could do it for them?

Arcadia Power’s Smart Rate feature was designed to bring the same service large companies have benefited from for decades to every household in states with electricity choice. Smart Rate uses data science and advanced algorithms to monitor the energy market for lower rates — ultimately switching households to clean energy at a lower cost automatically. Our technology leverages our robust community in each state to secure exclusively low prices in the energy market.

On average, Smart Rate has saved households 20% on their monthly energy bill, based on data from Arcadia Power accounts across 13 open market states. Even more impressive, households in New Hampshire, Delaware, Maryland, Rhode Island and Pennsylvania all saved an average of 30%, and households in Maine and Illinois saved 40% on average.

Average savings was calculated by comparing the rates of households on energy supply contracts before and after enrolling in Arcadia Power. Through our Smart Rate feature, we monitored the market to find these members lower rates, automatically switching them over at no cost to them. Members are never placed on a higher rate than what they were paying, and Arcadia Power benefits by taking a small percentage of the savings.

As our data shows, many households across the country are overpaying for electricity when they could be saving.

Stop overpaying for electricity today, and sign up for free. There is no cost or commitment and it only takes 2 minutes to sign up your utility account.

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