Think Energy Review

Quick Facts

Is Think Energy good? Think Energy offers 100% renewable electricity at competitive fixed rates across all four Texas TDU territories, plus solar buyback plans up to 60 months. But its MLM-style sales channel, the CEO’s track record with Viridian Energy and Griddy Pro, a D rating from the BBB, and a 1-star PUCT complaint rating all deserve a hard look before you sign up.

• Parent Company: Energywell (Oaktree Capital Management holds ~94% of voting equity; Brookfield Asset Management owns Oaktree)
• Years in Texas: 11 (Think Energy brand entered Texas in November 2015 under ENGIE Retail; current Energywell ownership since late 2022)
• Best For: Customers who want 100% renewable energy with long-term fixed rates or solar buyback
• Avoid If: You want to compare rates on third-party sites, need weekend phone support, or are uncomfortable with MLM-adjacent sales tactics
• Deposit Required: Conditional (credit check; multiple waiver options including seniors, veterans, low-income)

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Company Overview

Think Energy has a complicated corporate history that you should understand before handing them your electricity account.

The brand started in 2011 as a retail arm of GDF SUEZ Energy North America, a French energy conglomerate. In 2015, GDF SUEZ rebranded to ENGIE, and Think Energy became ENGIE Retail. That same year, Think Energy began selling residential electricity in Texas. The company grew to cover 12 states plus the District of Columbia, serving residential electric and natural gas customers.

In December 2022, Energywell—a company controlled by Oaktree Capital Management—completed its acquisition of the entire Think Energy business from ENGIE. Oaktree holds approximately 89.3% of Energywell Parent’s voting equity through wholly owned subsidiaries, plus an additional 4.7% through its controlling interest in Hartree Partners, totaling roughly 94%. Brookfield Asset Management owns Oaktree, making Brookfield the ultimate parent entity.

When the acquisition closed, all of Think Energy’s Texas customers were transferred to MI Texas REP 2, LLC, which holds PUCT Certificate No. 10315. In September 2025, MI Texas REP 2, LLC changed its name to EE REP 2, LLC and was placed under Elevate Energy, LLC (PUCT Certificate No. 10353)—another Energywell subsidiary. The trade name Think Energy remains on the certificate.

Customer acquisition in Texas runs through Think+ Network, LLC, a registered broker (BR230177). This layered structure—broker enrolls you, a separate LLC serves you, a holding company owns both—is more complex than what most Texas providers use.

The corporate mailing address is 4 Post Office Lane, Unit 1288, Greens Farms, Connecticut 06838. However, Think Energy also lists a Houston office at 1990 Post Oak Blvd, Suite 1900, Houston, TX 77056. Your TDU (Oncor, CenterPoint, AEP Texas, or TNMP) delivers the actual electricity regardless of where your provider is headquartered.

The CEO’s Track Record

This is where it gets uncomfortable, and we think you should know.

Michael Fallquist, CEO of Think Energy and co-CEO of Energywell, has a pattern in the energy retail space. He founded Viridian Energy in 2009, which used a network marketing (MLM) model to sell electricity. Viridian grew to over 200,000 customers within three years. But it attracted serious regulatory attention. The Massachusetts Attorney General’s Office settled with Viridian for $5 million over deceptive marketing and sales tactics that lured residents into costly contracts with high electricity rates. A separate class-action lawsuit (Sanborn v. Viridian Energy) settled for $18.5 million over allegations that customers were charged excessive variable rates regardless of market price fluctuations. Viridian shut down its MLM operations by March 2018.

In 2012, Fallquist folded Viridian into Crius Energy, a newly created holding company traded on the Toronto Stock Exchange, and became CEO. Crius was sold to Vistra Energy in July 2019 for approximately US$328 million.

Fallquist then resurfaced in December 2020 as CEO of Griddy Pro—a company whose parent, Griddy, had its authority to operate in Texas revoked by ERCOT during the February 2021 winter crisis. Griddy Pro and Griddy both filed for bankruptcy in March 2021.

Now Fallquist runs Think Energy through Energywell, using the Think+ Network as a broker-based sales channel that shares structural similarities with his earlier MLM ventures.

None of this means Think Energy will cheat you on your electricity rate. Your plan terms are governed by your Electricity Facts Label (EFL), and the PUCT regulates every REP in Texas. But the pattern of MLM-style sales, regulatory settlements, and serial ventures is worth knowing about before you sign a contract.

Where Think Energy Operates in Texas

Think Energy serves all four deregulated TDU territories in Texas:

• Oncor: Dallas, Fort Worth, Arlington, Plano, and surrounding areas
• CenterPoint: Houston and surrounding areas
• AEP Texas: Corpus Christi, Abilene, and parts of South and West Texas
• TNMP: Scattered areas across the state

If you are in a deregulated area of Texas, Think Energy is likely available. Austin and San Antonio run municipal utilities—no one on this site can sell there.

Plan Options

Think Energy offers a wider plan lineup than it did a few years ago. All plans are fixed-rate, and most include 100% renewable energy backed by RECs.

Think Clean (12 and 36 months) The core offering. Fixed-rate plans where 100% of your electricity consumption is offset by renewable energy certificates from wind, solar, and hydro sources. The 12-month version gives you flexibility; the 36-month version locks in your rate longer. As of April 2026, Think Clean 12 rates start around 14-15 cents/kWh depending on your TDU area and usage level.

Think Clean 12 with Smart Thermostat Connected Same as Think Clean 12 but bundled with the Think Smart demand response program. Rates come in about 1 cent/kWh lower because you are also earning $10/month in Think Smart credits.

Think Basic 15 A 15-month fixed-rate plan. Straightforward pricing without the explicit 100% renewable branding, though Think Energy states all their plans outside Connecticut are backed by RECs.

Think ETF Buster 36 Designed for customers switching from another provider mid-contract. Think Energy covers part or all of your early termination fee from your previous provider. The trade-off is a higher rate—roughly 17-18 cents/kWh at 1,000 kWh usage.

Think Shine 36 and Think Shine 60 Solar buyback plans for customers with rooftop solar panels. These let you bank excess solar generation for credit. The 60-month term is one of the longest residential plans available in Texas from any provider. Rates run around 16-17 cents/kWh at 1,000 kWh.

Early Termination Fees: ETFs apply to Texas residential contracts. The specific amount depends on your plan and remaining months—check your EFL before signing. Some plans, like Think Clean 12, have been listed with $0 ETFs for residential customers, but this can vary. Texas is the only state where Think Energy charges ETFs; in their other markets, residential customers can cancel without penalty.

What they do NOT offer:

• Prepaid or pay-as-you-go plans
• Variable-rate plans
• Free nights/weekends plans
• Time-of-use plans

If you need prepaid electricity, look at Payless Power or Pronto Power. If you want free nights or weekends, check Rhythm Energy or TXU Energy.

Think Smart: Demand Response Program

Think Smart is Think Energy’s demand response program, available only to Texas customers. Connect a compatible smart thermostat and get $10/month in bill credits—$120 per year for letting Think Energy make small temperature adjustments during peak grid demand. If you connect multiple thermostats on one account, each earns the $10 credit.

How it works:

• Your thermostat syncs with the grid automatically
• During high-demand periods or when cleaner energy is available, Think Smart adjusts your setpoint by a few degrees
• The system may pre-cool or pre-heat your home before events to maintain comfort
• Most events last 5-30 minutes, though some extend to a few hours
• During extended events, the system cycles between normal and adjusted setpoints

Compatible thermostats: Ecobee, Honeywell, or Resideo Wi-Fi models.

Opt-out rules: You can manually override any event with no penalty. But if you opt out of more than two events in a single month, you lose that month’s $10 credit. There are no other penalties for opting out.

This is a legitimate program. Demand response reduces strain on the Texas grid during peak hours—the kind of strain that caused the 2021 winter crisis. Think Energy pays you to participate. Rhythm Energy runs a similar program (PowerShift) with comparable credits.

100% Renewable Energy

Every Think Energy plan (outside Connecticut) is backed by 100% renewable energy certificates from wind, solar, and hydro sources. This is the same REC-based model Green Mountain Energy and Rhythm Energy use.

What it means in practice: Think Energy purchases RECs to match your electricity consumption. The electrons hitting your meter still come from the shared ERCOT grid—a mix of natural gas, wind, solar, and nuclear. But the financial mechanism drives investment in renewable generation. It is real. It is also not the same thing as your home running on 100% wind power.

The company has also partnered with One Tribe to protect rainforest trees. That is a marketing program, not an electricity feature.

Free Energy Club (Referral Program) — Closed

Think Energy ran a tiered referral program called the Free Energy Club. Customers referred others through a dedicated portal, and earned rebates on their supply charges:

• 3-9 qualified referrals: 10% monthly rebate on supply charges
• 10-19 qualified referrals: 40% monthly rebate
• 20+ qualified referrals: 100% monthly rebate (free electricity supply)

This program is no longer accepting new referrals as of July 1, 2025. Discounts earned before that date are locked through December 31, 2025. If you see the Free Energy Club mentioned in marketing materials, it is outdated.

The program had restrictions: referrals needed to use at least 3,600 kWh annually, pay bills on time, and remain active Think Energy customers. Rebates were capped at $2,000 per 12-month period.

Deposit Requirements

Think Energy runs a credit check on enrollment. Clean credit means no deposit.

Deposit waiver options:

• Letter of credit from your previous electricity provider showing 12 consecutive months with no more than 1 late payment
• Age 65 or older
• Military veteran status
• Low-income status verification
• Victim of family violence (per Texas Family Code)
• Medical indigency certification

Under PUCT rules, Think Energy cannot deny you residential service based on credit history, utility payment data, or credit score. But they can require a deposit. The waiver options here are slightly broader than average—the veteran status waiver is not common among all Texas REPs.

No prepaid option exists. If your credit situation makes deposits a barrier and none of these waivers apply, look at Payless Power or Pronto Power for true pay-as-you-go plans.

PUCT Complaint Data

Think Energy has a 1-star PUCT complaint rating—the lowest possible score. That sounds alarming, but context matters.

The PUCT rating system measures complaints per 1,000 customers on a rolling 6-month average. Think Energy has only seven total complaints on file with the PUCT. That is a small number in absolute terms. But Think Energy’s Texas customer base is also small. When you divide a handful of complaints by a small customer count, the per-capita complaint rate spikes—and the star rating drops.

Does this mean Think Energy has terrible service? Not necessarily. It means they are a small fish in Texas and the PUCT’s rating system punishes small providers mathematically. It also means there is not enough data to draw confident conclusions.

The BBB picture is worse. Think Energy currently holds a D rating from the Better Business Bureau (not accredited). The company has 17 complaints filed in the last three years, with 9 closed in the last 12 months. The BBB specifically cites Think Energy’s failure to respond to at least one complaint as a factor in the low rating. Common complaint themes include overcharging, hidden fees (particularly a $19.99 charge customers say was not disclosed at enrollment), unauthorized enrollment through third-party brokers, and difficulty canceling. Think Energy holds a 4.4 out of 5 on Trustpilot, but those reviews skew toward customers who were asked to leave feedback—take them with appropriate skepticism.

Customer Service

Phone: 1-888-923-3633 Enrollment line: 1-833-669-3080 Email: care@thinkenergy.com Hours: Monday-Friday, 8 AM - 8 PM EST. No weekend phone support.

Payments by mail: Think Energy, P.O. Box 5344, Sioux Falls, SD 57117

What works:

• Online account management and Quick Pay portal at myaccount.thinkenergy.com
• Think Smart thermostat integration handled digitally
• $100 cash gift card for new customers after six consecutive months of on-time payments and at least 1,800 kWh usage (AutoSave customers and some other categories excluded)

What does not work:

• No weekend phone support at all
• No 24/7 emergency line
• No walk-in office locations for customers
• Hours are EST, not CST—so a Texas customer calling at 7 PM Central gets voicemail

If your power goes out at 10 PM on a Saturday, Think Energy cannot help you by phone. Your TDU (Oncor, CenterPoint, AEP, TNMP) handles outages regardless of your provider, but if it is a billing issue, you are waiting until Monday morning.

Not on ComparePower

Think Energy plans are not available on ComparePower’s marketplace. ComparePower has a provider page for Think Energy with background information, but no live rates or plan listings appear in the comparison tool.

This means you cannot do a side-by-side rate comparison between Think Energy and providers like TXU, Reliant, or Gexa through ComparePower. To see Think Energy’s actual rates, you need to visit thinkenergy.com directly and enter your zip code.

Shopping direct is not inherently bad. Chariot Energy also sells direct-only. But it makes it harder to verify you are getting a competitive rate. Before signing with Think Energy, check current rates on ComparePower for your zip code so you have a baseline to compare against.

The Think+ Sales Channel

Think Energy acquires many of its Texas customers through Think+ Network, a broker operation where independent Energy Advisors earn commissions for enrolling customers and recruiting other advisors. Think+ launched in January 2023.

Joining Think+ costs $59 upfront and $149 per year. Energy Advisors earn $20 per customer enrolled, plus monthly residual commissions (Level Pay) for as long as referred customers remain active. The compensation structure includes ranks: Regional Energy Advisor, Senior Energy Advisor, Director, Regional Director, Senior Director, Partner, Regional Partner, and Senior Partner. Advancement depends on both personally referred customers and total downline customers. Higher ranks unlock additional commission tiers (Rank Infinity Pay).

Direct Selling News has profiled Think+ positively. BehindMLM.com has documented the structural similarities to CEO Fallquist’s previous MLM ventures at Viridian.

What this means for you as a customer: If someone approaches you about switching to Think Energy—at your door, at a community event, through a friend or family member—they are likely a Think+ advisor earning a commission on your enrollment. That does not mean the plan is bad. But you should know the person recommending Think Energy has a financial incentive. Always check the EFL yourself, compare rates independently, and do not let anyone pressure you into signing on the spot.

The Bottom Line

Think Energy offers a real product: 100% renewable, competitively priced fixed-rate electricity with statewide Texas coverage, solar buyback plans up to five years, and a solid demand response program. The Oaktree Capital backing provides financial stability.

Good fit: You want 100% renewable energy on a long-term fixed rate, you own a compatible smart thermostat, you have solar panels and want a multi-year buyback plan, and you are comfortable signing up directly through their website rather than comparison shopping on ComparePower.

Bad fit: You want transparent comparison shopping, weekend phone support, prepaid options, or a provider whose CEO does not have a history of MLM energy ventures, regulatory settlements, and a bankrupt company on his record. The 1-star PUCT rating—even if statistically skewed by small customer count—combined with a D from the BBB and 17 complaints in three years does not help the confidence picture.

The real question: Is Think Energy’s current product good enough to outweigh the baggage? The electricity itself is fine. The rates are competitive. The Think Smart program pays you real money. The Think Shine solar plans fill a gap in the market. But you can get 100% renewable electricity from Rhythm Energy, Green Mountain Energy, or Chariot Energy without the MLM sales channel and without the CEO background questions. Whether that matters is up to you.