Dive Summary:
- PointClickSwitch, a Baltimore-based startup formerly known as Maryland Energy Advisors LLC, has set the goal of becoming a PriceLine-style site for electric customers, offering price comparisons and service change options.
- The service currently caters to Maryland and Illinois customers, but it may expand into other markets where competition is allowed in the future.
- Co-founder Phil Croskey claims that he and his partners have invested $30,000 in their business, reached profitability and attracted thousands of customers.
From the article:
"... The Maryland Public Service Commission licenses companies such as PointClickSwitch.com as brokers, and requires them to post an insurance bond. Brokers have come and gone over the years and the energy industry has had its share of poor practices, such as "cramming" — adding extra charges — and 'slamming' — switching customers to their service involuntarily, according to Maryland regulatory officials.
But PointClickSwitch does none of that, Croskey said. His site, he said, helps people compare prices and switch energy suppliers. ..."