RealTime IT News

Essential.com Goes Nationwide

Energy and communications online marketplace Essential.com said it is expanding its Massachusetts service to cover 47 of the contiguous states in the U.S.

Essential.com provides one-stop shopping for all "essential services" such as energy, Internet access and telecommunications services from brand name providers.

Since its launch in June of 1999, Essential.com has served only customers in the state of Massachusetts. The company said it now has more than 20,000 active customers, fueling its nationwide expansion.

The company is also expanding its energy offerings in key markets, including electricity service in the states of New York, California, Pennsylvania, Illinois, New Jersey, Delaware, Maryland, Nevada, Arizona, Connecticut and New Hampshire, pending Public Utility Commission licensing.

"Small businesses and consumers in Massachusetts have flocked to Essential.com to take advantage of the convenience and savings that we have offered on Essential Services," Akhil Garland, Essential.com's founder and chief executive officer. "Now that we have proven our business model, the company is now ready to expand into new areas. When you combine the power of the Internet with the breakup of these large monopolies our timing couldn't be more perfect!"

Essential.com's business model uses the Internet to aggregate customers and negotiate better rates on their behalf. Customers can compare providers, services, and pricing plans.

A single consolidated bill, which can be reviewed and paid on-line, offers usage analysis in a variety of formats. The company has raised over $20 million in venture financing to develop its business.

Essential.com premiered in Massachusetts, providing a 10 percent discount off "standard offer" rates from the state's long-standing electricity monopolies.