Energy Lock Plus™ (“EL+™”) is similar to Mint Energy’s Energy Lock product, a simple, full requirements, traditional fixed price product with the added benefit to optimize market volatility through the curtailment of energy consumption during peak demand periods. Limiting energy use during high-demand energy periods reduces total power consumption and can save customers significantly on their electricity bills. Energy Lock Plus now provides the additional benefits for customers to receive credits for their reduction in consumption during high demand energy periods.
During periods when wholesale electricity prices are anticipated to rise higher than normal customers are alerted via email, telephone, and/or text by a Price Response Provider (Mint Energy or a participating consultant) and are given the suggestion to reduce electricity consumption. These events are called Load Drop Events (“LDE”) and will be predicted by a Price Response Provider.
Mint Energy will establish a Load Baseline for customers, and those customers that reduce their usage below the Load Baseline during a high demand energy period would be eligible for an electricity bill credit .