Dive Summary:

• Nest Labs purchased MyEnergy Wednesday to expand its reach into the utility sector and develop energy data services to reduce home energy consumption.
• MyEnergy, which has customers in 1,500 utility service territories, aggregates utility energy data largely to deliver energy efficiency services straight to the consumer.
• The acquisition is the latest in Nest’s move to enhance energy efficiency and energy services.

From the article:
“…if your utility has an online account, and you gave MyEnergy permission to link that account to its system, then the site would pull your energy consumption data into its network. MyEnergy then would use that data to offer the user recommendations for how to reduce energy consumption and also create a sort of social network around energy consumption. The important part to remember is that your utility doesn’t even have to be involved in the process.”