Wholesale electricity seller Griddy will now sell power through commission-based networks. This switch puts the company in direct competition with NRG Energy and Vistra, who purchased Stream Energy and Ambit Energy respectively last year.
Griddy’s new structure will pay customers $25 to recruit new customers and $2 for each month that their customers stay with the company. Once Griddy representatives sign ten or more customers, they will have access to a revenue sharing pool. This change is expected to bring savings for the company, who, according to Griddy Chief Executive Officer Michael Fallquist, was paying as much as $30 per click to attract customers online.
Griddy currently has 28,000 members and charges a $10 monthly membership fee.