Xoom energy

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Xoom.png
www.xoomenergy.com
XOOM Energy Inc.
Type Private
Industry Energy
Headquarters 11208 Statesville Rd #200, Huntersville, NC 28078, United States
Key people Thomas Ulry
Dave Vail
Chris Phillips
Revenue $293.1 M (In 2014) [1]
Number of employees 140

XOOM Energy is an independent energy retailer, supplying natural gas, renewable energy services and electricity to residential and commercial customers in deregulated energy markets across the country. Launched in 2011, the company was originally based in Charlotte but relocated in 2013 to nearby Huntersville, North Carolina. Direct seller ACN partners with XOOM energy to market natural gas and electricity services to customers throughout US through its Independent Business Owners. They offer natural, sustainable resources to meet today’s growing demand for alternative energy sources. XOOM Solar, a sister company of XOOM Energy was formed featuring customized home solutions for residential solar systems.

Company Structure

The Company offers service through its wholly owned subsidiaries in 18 states, plus the district of Columbia in 78 utility markets across the US and employs 140 people in the Charlotte metro area. XOOM energy offers natural gas and/or electricity plans in California, Connecticut, Delaware, District of Columbia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas and Virginia

History

  • 2011 - Several owners of LKN Communications, Inc.(d.b.a ACN) started the retail energy supplier, XOOM Energy, LLC. ACN currently acts as an agent for retail supplier Planet Energy in several Northeast markets.
  • 2015 - XOOM energy was ranked no. 13 overall in the INC.5000 list for 2015 with three year sales growth of over 16,000% and 2014 revenues of $293.1 million. It came in 1st for the entire energy industry on INC. Magazine’s annual honors roll.

Plans

FIXED RATE PLANS

This type of plan protects businesses or home energy from fluctuating energy costs. The plan offers a chance to compare energy rates in a customer's home or business energy market. When a customer chooses a fixed rate plan (SureLock) their rates do not change for the duration of the contract.

VARIABLE RATE PLANS

This Variable Rate Plan provides the flexibility of market-based prices and energy rates that vary month to month. Also with no long term commitments customers are free to change their product or energy plan.

RENEWABLE PLANS

With an alliance formed with Renewable Power Direct XOOM Energy provides commercial and industrial customers with delivery options for renewable electricity derived from natural, sustainable resources.With the SimpleClean technology ,50% of natural renewable resources are used to make electricity.

CARBON FREE PLANS

This plan helps balance out a customer's home's natural gas usage and reduce the carbon footprint. When a customers select TruEco, XOOM Energy purchases Carbon Offsets on behalf of its customers to ensure that the equivalent of the carbon emissions caused by a customer's natural gas consumption is offset.

XOOM Solar, LLC,

It is a sister company of XOOM energy headquartered in Huntersville, NC that provides customized solar solution for homeowners in the U.S. By installing a XOOM Solar system, homeowners have an environmentally-friendly way to reduce their electric bill. They offer one-on-one consultation to customers guiding which solar plan is best suited for their personal use.


Key Developments

Nexant RevenueManager

It is an integrated billing and contract management software platform to help energy retailer to reduce costs while providing quality services. It supports multiple commodities through the entire customer lifecycle-from prospecting to customer acquisition, customer service and billing-in residential commercial and industrial markets.

XOOM energy chose NEXANT RevenueManager to provide timely and accurate bills to their customers leading to greater customer satisfaction and retention.

Prior to selecting and implementing Nexant RevenueManager, XOOM energy utilized an outsourced solution for its billing, back office operations and customer care needs for all of its subsidiaries.

HomeServe USA

It is a leading provider of home repair solutions across the US and CANADA. Started in 2002 it protects the homeowners against the expense and inconvenience of water, sewer, electrical etc. by providing affordable coverage and quality local service. It is an approved service warranty company and not a contractor. It hires independent contractors to complete all repairs.

XOOM energy has partnered with HomeServe to offer their customers affordable emergency repair plans that provide protection against costly and inconvenient repairs to systems.

iSolved

Earlier the human capital management platform that XOOM was using was unable to provide direct access to employees. Alternatively, the HR Manager was required to manually feed everything for each employee. After adopting iSolved it was a huge time saver and the old system of punching time cards became obsolete resulting in a efficient transition.

It allows the new hires to register, log in and manage many aspects of their own benefits. Also with the Time/Attendance feature vacation and sick time could now easily be managed without filing any handwritten documents.

Acquisitions

XOOM Energy, LLC, a national energy retailer, expands its customer base and market coverage through the acquisition of Planet Energy Corp.’s US based natural gas and electricity customers in New York, Pennsylvania and Maryland. With this acquisition, XOOM energy, through its New York, Pennsylvania and Maryland subsidiaries, will acquire residential and business customers in 16 utility markets across three states. Including the newly acquired customers XOOM energy’s service territory will extend to 12 states in 48 markets, making it one of the largest and fastest growing energy retailers in the country

Controversies

Consumers have alleged that although promised savings on their energy bills, within months after switching to XOOM their energy bills suddenly skyrocketed, in some cases doubling, compared to rates charged by local providers. Upon investigation, information suggests that XOOM energy may have implemented a sales program whereby it may have intentionally failed to disclose its plan to increase customer rates beyond prevailing market rates after only a few months. Instead, XOOM represented to customers through its sales representative that customers would realize significant savings with XOOM

LEGAL BATTLES

Energy provider XOOM Energy was sued in January 2015 by customers in Maryland and New Jersey who claim the company uses "bait and switch" tactics by luring in customers with low rates before suddenly increasing them. The lawsuit, filed in U.S. District Court on Jan. 16, seeks damages of more than $5 million on a class-action basis. One of the two plaintiffs, Oladipupo Adesina of Laurel, alleged that when he switched his service from Baltimore Gas and Electric in June, he paid reasonable rates for two months. After that, XOOM increased its rate to 35 percent of what he would have paid BGE, according to the lawsuit. Some alternative energy providers, including XOOM, have come under scrutiny by the Maryland Public Service Commission for their marketing and customer service practices. In April, the PSC ordered XOOM and four other providers to prove they did not engage in unfair business practices; that case is ongoing. XOOM denied wrongdoing in response to the case.


Top News Headlines

XOOM Energy, LLC Named to Inc. Magazine’s 34th Annual List of America’s Fastest-Growing Private Companies [2] XOOM Energy Forges New Partnerships with Director of Business Development [3] XOOM Energy Hires New Director of Product Management [4]


Top 5 Recent Tweets

DateAuthorComment
November 29, 2020TheRealTrelle🗣️ New Customers Get Up to $150 in eGift Cards with XOOM Energy: *** November Special *** 👉 - New customers who en… https://t.co/h3034oMGVw
October 02, 2020LoveQ"If you aren't good at loving yourself, you will have a difficult time loving anyone, since you'll resent the time… https://t.co/Hw7TxQQib9
November 27, 2020acnnewsXOOM Energy wants to help you power the way you build your business. Applying the best practices for referring ener… https://t.co/ybssRphN0n
November 26, 2020mattzinaSome ‘high energy’ and amazingly fun 🤩 Xoom classes tonight.

So impressed. Some class performances!

xMZAx https://t.co/xlLacIXeWd

References

[5] [6] [7] [8] [9] [10] [11] [12] [13]

[14]
  1. http://www.inc.com/profile/xoom-energy
  2. http://xoomenergy.com/en/news/xoom-energy-llc-named-to-inc-magazines-34th-annual-list-of-americas-fastest-growing-private-companies
  3. http://xoomenergy.com/en/news/xoom-energy-forges-new-partnerships-with-director-of-business-development
  4. http://xoomenergy.com/en/news/xoom-energy-hires-new-director-of-product-management
  5. http://www.baltimoresun.com/business/bs-bz-xoom-energy-lawsuit-20150124-story.html
  6. https://www.homeserveusa.com/utility-partners/our-valued-partners/xoomenergy
  7. http://www.nexant.com/about/news/xoom-energy-implements-nexant-revenuemanager-streamline-and-enhance-billing-and-customer
  8. http://www.prnewswire.com/news-releases/xoom-energy-empowered-by-moving-to-isolved-300105177.html
  9. http://acninc.com/news/press-releases/2012/12/03/xoom-energy-expands-footprint-by-acquiring-planet-energy-customers/
  10. https://globenewswire.com/news-release/2015/06/25/747447/10139754/en/XOOM-Energy-Implements-Nexant-RevenueManager-to-Streamline-and-Enhance-Billing-and-Customer-Care-Management.html
  11. http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=234099191
  12. http://audetlaw.com/investigations/xoom-energy-lawsuit-investigation-false-advertising/
  13. xoomenergy.com/
  14. http://www.bbb.org/charlotte/business-reviews/energy-service-companies/xoom-energy-in-huntersville-nc-284732

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