SOURCE: PayGo Electric

PayGo Electric

January 25, 2011 08:00 ET

PayGo Electric™ and SmartSynch to Enable Utilities to Spot Deploy Prepaid Electric Solutions to Customers With Unprecedented Ease

ATLANTA, GA--(Marketwire - January 25, 2011) - PayGo Electric, the real-time prepaid electric provider for utilities, announced an agreement with SmartSynch Inc. today. Under the agreement, PayGo's fully integrated, software as a solution with customer CIS, payment processing, IVR, MDM, and notification suite, will be embedded in SmartSynch's SmartMetering Solution. 

With PayGo's system, participating utilities are able to offer prepaid electric solutions to customers without the costly rebuilding of existing billing and related systems. Although world markets have seen prepaid electric service comprise as much as 30 percent of the total customer base, US adoption rates have been slow. Key drivers have been the high cost to retrofit existing billing systems, the need for accurate, "real time" data instead of estimates, and the limited numbers of "smart meters" that are accessible via two-way communications. Despite currently low adoption rates (less than 1 percent US penetration), reports indicate as many as 40% of US electric utilities are considering providing prepaid electric service.

PayGo's unique (patent pending) technology embeds logic in either the communications modules or the meters, which alerts both the customer and the utility company of the need to add credit to a customer's account to enable continued electric service. The system includes a nationwide payment processing platform which enables utilities to use existing, as well as new payment methods for their customers. This new technology allows customers to be continuously informed of their account status and enables them to pay for their electricity on a schedule which best fits their needs.

Unlike previous prepayment systems, there are no trips required outside of the home to purchase additional electricity. With PayGo, customers can call the utility to recharge, reload their account directly with a cell phone or PDA, make online payments, recharge at various retail outlets, or utilize a number of additional payment methods. Because PayGo recalculates the remaining balance at the meter level every thirty seconds based on actual consumption and alerts customers as they reach predetermined levels, the solution is highly accurate. Prior estimation-based prepay systems that average consumption or use daily meter reads contain inherent accuracy risks that have frustrated consumers, burdened utilities with customer service issues, and concerned regulators.

"With more than 150 major North American utilities benefitting from SmartSynch's two-way delivery of real-time energy usage over cellular networks, PayGo will now extend its reach and benefits to millions of potential prepay customers," said PayGo Founder Ron Sewell. "SmartSynch's ability to deploy in parts or all of a utility's service territory was highly attractive to us. This agreement also furthers our goal of embedding PayGo in each of the top five worldwide meter and communications provider solution sets."

"Through this relationship with PayGo, the door is now wide-open for utilities to offer prepaid electric solutions to any customer, at any time and location, with great ease," said Stephen Johnston, SmartSynch's Chief Executive Officer. "This demonstrates the value for utilities to adopt high-speed, cellular-based solutions for smart grid deployments, as there is no other economically feasible way to strategically deploy these types of applications on this scale." 

ABOUT PAYGO
PayGo is a smart grid software provider that enables the rapid provisioning of prepaid electric service from utilities to their customers. With industry studies suggesting energy savings exceeding 10% by prepaid electric participants, PayGo's mission is one that couples sustainability with quantifiable, sustained cost savings for utilities and control for their ratepayers. The Company's integrated settlement and payment processing network also enables plug-in electrical vehicle programs. More information is available at the Company's website -- www.paygoelectric.com

ABOUT SMARTSYNCH, INC.
SmartSynch is a company that creates smart grids for the utility industry. Since 2000, we have been the only provider of open standards, IP-to-the-endpoint smart grid solutions that utilize a cellular network as the communications backbone. Our clean-tech innovations in the two-way delivery of real-time energy usage data over cellular networks, in lieu of proprietary networks, have to-date simplified deployments for 150 major North American utilities, while enabling their clean-energy initiatives and delivering greater Returns on Resources. Our products and services include SmartMeters™ and SmartBoxes™ that immediately IP-enable the grid, software solutions, and network management services for utilities and their customers. For more information, visit www.smartsynch.com and follow SmartSynch on Twitter at www.twitter.com/smartsynch.

PayGo™ and PayGo Electric are registered Trademarks of PayGo Electric or its parent company EnergyComNetwork, LLC

Contact Information

  • For more information about PayGo contact:
    Ron Sewell
    1-678-325-6511, ext. 222
    Email Contact