Microsoft Hohm - What exactly is it?

Stumbled across something called Microsoft Hohm after someone mentioned it on FriendFeed, but even after reading the description of what it is I don't fully understand it. On the site it's described as:

What is Hohm?

Microsoft Hohm is a free online beta application that helps you save energy and money. With Microsoft Hohm you can better understand your home energy usage, get recommendations to conserve energy and start saving. As with any recommendation engine, Hohm will provide increasingly more accurate and relevant suggestions for energy conservation as its users contribute home energy input and feedback. One of the objectives during our beta period is to refine our tool and further increase the value our product can offer to you.

I see what it's trying to achieve but I'm not sure how it plans to do it... am I missing something?

Also I thought the name was quite amusing, but I'm not too sure on it as a proper name.