Written by 6:36 pm FAQs, Industry News, Think Energy Views: 177

Think Basic: Taking Off in Select Markets 

Get to know our newest product, for customers who only care about rate.

Get to know Think Basic: Our low-price offer created in response to customers who are focused on securing the lowest possible rate and are not interested in the added benefits of other Think Energy offers. 

There are a few key differences between Think Basic and our other products that will affect how it’s presented to customers and how you and your teams are compensated. Here’s what you need to know:  

 What is Think Basic?
Think Basic is a new electricity offer aimed directly at price shoppers or prospective customers who are more concerned with overall cost than other added benefits.= 

  • Think Basic plans do not offer 100% renewable electricity. 
  • Customers will not be eligible for a $100 cash gift card.  
  • While our offers are typically set for a minimum of 30 days, the price and contract term of the Think Basic product is likely to change frequently.  

 How does Think Basic compare to Think Clean?  

There are a few important differences between Think Clean and Think Basic: Think Clean offers customers 100% renewable electricity, a $100 cash gift card, and protection against rising electricity prices with longer-term rates. Think Basic is not 100% renewable, does not include the $100 cash gift card, and will be offered at shorter term lengths.  

This is a complementary product. We want to arm you with the tools needed to approach all customers, and don’t want you to lose those who are solely focused on rates. 

How will I be commissioned for enrolling Think Basic customers?
Given that Think Basic is our low-price product, we cannot offer full commission on customers who enroll in it.  A customer enrolled on a Think Basic product will: 

  • Count as a Personal Customer and/or Team Customer for Rank Advancement. 
  • Pay a Customer Acquisition Bonus and Team Customer Acquisition Bonuses (including the 2-Level Mentor Bonus, Rank Infinity Bonus, Coded Infinity Bonus and Partner Pool Bonus). 
  • Not pay Residuals Commissions or Team Residual Commissions (including Level Commissions, Rank Infinity Commissions, Coded Infinity Commissions and Partner Pool Commissions). 

 Given the Think Basic product does not pay full commissions, it will be the last offer displayed when a customer enters a zip code on your replicated homesite to view our available offers.  

What if a customer who transitions on to (or off of) Think Basic? Does that affect my commissions?  

Yes, customers switching on to (or off of) Think Basic will impact your commissions.     

If a customer switches from Think Basic to another Think Energy electricity plan, you and your team will be eligible for Residual Commissions and Team Residual Commissions on that customer.  

The opposite is also true: If a customer switches to Think Basic from another Think Energy electricity plan, you and your team will no longer be eligible for Residual Commissions and Team Residual Commissions on that customer.   

Can I add Think Basic to my own marketing materials?  

You can educate consumers about the Think Basic product, but you are prohibited from publishing the rate or term length on your personal marketing materials – including social media – as each will change frequently. The current rate and term length of Think Basic will only be available on Think Energy web properties, so you can refer customers to the cart of your replicated homesite where the product will be listed.  

 Where is Think Basic available?  

The availability of Think Basic will be subject to change for the foreseeable future. While initially only available in Connecticut, we will continue to monitor markets and offer Think Basic when and where it makes the most sense.  

  

DO NOT USE OUTSIDE OF CONNECTICUT 

How does Think Basic compare to Think Simple?  

The Think Basic and Think Simple products are similar, with a few important differences: Think Simple customers are eligible for a $100 cash gift card and protects customers against rising electricity prices with longer-term rates. 

 Take this example, using average residential usage and rate information from Connecticut:  

Product  Current Rate  Value of Current Rate inclusive of $100.00 Gift Card  Other benefits 
Think Basic  $0.114 per kWh  Not applicable 
  • Protect 50 trees 
Think Simple 12  $0.116 per kWh  $0.103 per kWh 
  • Protect 50 trees 
  • 12-month fixed price 
Think Simple 36  $0.129 per kWh  $0.125 per kWh 
  • Protect 50 trees 
  • 36-month fixed price 

Note:   

  • The Effective Rate includes the value of the $100 cash gift card. 
  • The Effective Rate is calculated by dividing the incentive value ($100) by the electricity usage over the term of the product (12 and 36 months). The calculation assumes 7,794 kWh of electricity per year, which is the average electricity usage of households in Connecticut, according to EIA.gov 
  • The Think Basic rate used in the table is illustrative and subject to change, whereas the Think Simple rates are available for January 2024.  
  • When speaking about Think Energy’s rates to prospective and current customers, EA’s should only quote the Current Rate, and are prohibited from quoting the per kilowatt-hour dollar value of the Current Rate inclusive of the $100 cash gift card.  

This is a complementary product. We want to arm you with the tools needed to approach all customers, and don’t want you to lose those who are solely focused on rates.  

 

   

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