First Internet Utility Company Goes On-line

First Internet Utility Company Goes On-line

Idealab!, the innovator behind e-commerce Internet companies such as Free-PC, GoTo.com and eToys, has formed Utility.com, the first Internet utility company. According to Idealab!, consumers can log onto the Internet to buy electricity for their homes and businesses. The company states that customers can realize up to 15 percent savings off their current electric bill while being guaranteed the level of reliability they`ve come to expect from their current supplier.

“Internet and energy deregulation are coming together at just the right time,” said Bill Gross, Idealab! founder and CEO. “Eighteen states are opening up their energy markets to competition, bringing choice to 48 percent of the country`s population for the first time in nearly 100 years. The speed, easy access and reach of the Internet will help drive competition in these markets and means cheaper energy and more useful household energy management for customers.”

Once a consumer decides to become a customer, he or she can track how much energy they are using on a daily basis, pay their bills via their Internet and get a customized appliance analysis with recommendations on how to reduce energy costs even more. Utility.com customers can also choose additional options to help manage their energy use, including an AMR meter and a wireless remote thermostat.

Utility.com services are now available in California and services will be rolled out in Pennsylvania, Massachusetts and Rhode Island by mid-summer 1999. By the end of 1999, the company will make services available in New Jersey, Nevada, Arizona and New York, thus reaching all of the states that allow customers to choose their electric suppliers.

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