Partnership ·
Chariot Energy Introduces Flexible Electricity Payments for Large Commercial and Industrial Customers
Synota partnership enables daily and weekly settlement options to reduce collateral requirements, improve cash flow and offer businesses more competitive electricity pricing
Chariot Energy×
At a glance
- Payments
- Daily or weekly settlement
- Timing
- Starting January 2027
- Markets
- ERCOT and PJM · Hanwha Energy USA affiliate
Pay more often, owe less at any one time.
The larger the unpaid balance, the more collateral a supplier asks for. Move the load to see the peak balance under each payment schedule.
At $60/MWh, running around the clock.
Peak balance owed by payment schedule
At 50 MW, the peak balance is $4.32M paying monthly, $1.01M paying weekly and $216K paying daily.
The announcement
Chariot Energy, a Houston-based retail electricity provider and affiliate of Hanwha Energy USA Holdings Corporation, has partnered with Synota to introduce flexible payment options for large commercial and industrial (C&I) customers, including data centers and other high-demand electricity users.
Beginning in January 2027, eligible customers can settle electricity charges daily or weekly instead of through traditional monthly billing. This allows Chariot Energy to offer lower collateral requirements, more competitive electricity pricing, or both.
Traditional monthly electricity billing can leave large energy buyers carrying nearly two months of outstanding electricity charges, increasing credit exposure and requiring substantial collateral, including deposits and letters of credit. More frequent settlement can reduce that exposure, freeing working capital for business operations and growth.
Synota's technology automates electricity billing and settlement using meter and market data to calculate daily usage and charges. Customers and broker partners gain access to transparent, auditable records of electricity consumption, charges, and payments.
The partnership gives energy buyers additional flexibility during procurement. They can choose daily, weekly, or monthly settlement options in requests for proposals (RFPs), allowing customers to compare electricity pricing and collateral requirements across different payment structures.
Energy customers, and broker partners, can monitor account usage, charges, and payments while commissions can be tracked and paid automatically.
“Customers already have choices when it comes to electricity products and contract terms. This partnership with Synota provides new options for how and when they pay. Synota is creating opportunities to lower costs, reduce collateral requirements and provide our customers and partners with greater transparency.”
The partnership supports Hanwha Energy USA’s continued expansion across ERCOT in Texas and PJM in the Northeast and Mid-Atlantic. Hanwha Energy USA expanded to PJM through the acquisition of Powervine Energy in July 2026.
Flexible settlement capabilities strengthen Chariot's ability to serve large commercial and industrial facilities, including data centers and hyperscalers, with electricity solutions tailored to their financial and operational needs.
“Traditional monthly electricity billing ties up significant working capital across the energy value chain. By offering more frequent settlement options, Chariot is helping customers reduce financial friction and put that capital to more productive use.”
Media contacts
- Austin MitchellCo-founder & CEO, Synotamedia@synota.io
- Brian ArmentroutSenior Marketing Director, Chariot Energymedia@chariotenergy.com(832) 356-7958
About the companies
About Chariot Energy
Chariot Energy and Pumpjack Power, Texas electricity suppliers, are affiliates of the 174 Power Global Retail Corporation portfolio. Powervine Energy, LLC and Powervine Energy MD, LLC are affiliated retail electric suppliers serving customers in competitive electricity markets in Ohio, Pennsylvania and Maryland. 174 Power Global Retail Corporation is a subsidiary of Hanwha Energy USA Holdings Corporation. Together, these companies provide commercial and residential competitive retail electricity products and customer-focused solutions supported by Hanwha’s global capabilities in energy development, manufacturing, operations and customer service.
www.chariotenergy.com
174 Power Global Retail Texas, LLC d/b/a Chariot Energy, PUCT Certificate No. 10260 | Pumpjack Power, LLC d/b/a Pumpjack Power, PUCT Certificate No. 10232 | Powervine Energy, LLC, PUCO Certificate No. 18-1332E and Pennsylvania PUC License No. A-2018-3005112 | Powervine Energy MD, LLC, Maryland PSC License No. IR-4701.
About Synota
Synota automates billing, settlement, and payment for commercial energy and compute transactions, improving contract performance and financial operations for buyers, sellers, and intermediaries. SOC 1 & SOC 2 certified.
Learn more at www.synota.io.
More news
All news →
Get paid every week, not every two months
Weekly commissions for brokers whose customers pay daily, with every account visible in the Synota portal
Bentaus Selects Synota as Strategic Settlement Partner for AI Infrastructure
Companies bring together experience across AI infrastructure, energy and Bitcoin to develop transparent, usage-based token settlement for AI computing
Put daily or weekly settlement in your next deal.
See how it can lower collateral, improve pricing, or both.
Book a Demo