Kilowant describes itself as a technology platform rather than an energy supplier or broker. The local distribution utility remains responsible for the electric grid, including meter reading, infrastructure and emergency service. When a customer changes the supply portion of an electricity plan, the same utility infrastructure continues to deliver power. For Rhode Island customers, Rhode Island Energy continues to handle delivery and grid-related services. The supplier and supply rate appear in the appropriate supply section of the customer’s utility bill, while delivery services remain with the local utility. Kilowant is free for consumers, according to the company. Rather than charging customers a subscription fee or adding a surcharge to their electricity bills, Kilowant says it generates revenue by charging energy suppliers a licensing fee to use its AI-powered matching infrastructure. THE POTENTIAL FOR REAL-WORLD SAVINGS The potential savings are one of the platform’s central selling points. Kilowant reports that it can reduce a consumer’s annual electricity supply costs by roughly 33% compared with standard utility default supply rates, while eliminating much of the time and effort involved in researching competing plans. The company points to periods of elevated electricity prices in Rhode Island as an example. At one point, Kilowant says it was able to identify fixed residential supply rates of approximately $0.10160 per kilowatt-hour when the utility’s comparable default supply rate was about $0.15092 per kilowatt-hour. For a household facing rising energy costs, the difference can add up quickly. What began as a Rhode Island-based energy technology venture is now positioned for expansion into other deregulated states. For Grasso and his team, the broader goal is to make sophisticated energy-market analysis available beyond large corporate customers. As artificial intelligence continues to reshape everyday services, Kilowant represents one example of how technology can simplify a traditionally complicated marketplace — potentially putting more information, choice and purchasing power in the hands of residential energy consumers.
When the software identifies a lower-cost plan from a state-licensed supplier, the consumer can select the plan manually or activate the AI to make future selections automatically. Kilowant says its system focuses on plans that are priced below the applicable utility or community choice aggregation supply alternative, allowing consumers to capture savings without having to continually monitor the market themselves. The platform also incorporates safeguards designed to address concerns about unfavorable contracts. Participating energy suppliers must be state-licensed, and Kilowant says participating agreements are reviewed to ensure they meet its requirements for fixed-price and fixed-term plans. NO DISRUPTION, JUST A DIFFERENT SUPPLIER One of the biggest concerns for consumers considering a change in electricity suppliers is whether the transition could interrupt service. In a deregulated electricity market, however, choosing a different supplier does not mean changing the physical infrastructure delivering electricity to a home or business.
For more information, consumers can visit www.kilowant.com
28 DISCOVER RHODE ISLAND
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