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Energy Plus Holdings, LLC to Enter ComEd Residential Market, Expand Gas Marketing
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January 26, 2011
Energy Plus Holdings, LLC will enter the Commonwealth Edison electric market to serve
residential customers sometime this year, President and Co-
Due to competitive concerns, Energy Plus Holdings, LLC did not wish to discuss exact timing or other details of its planned ComEd residential entry.
As first reported in Matters, BlueStar Energy Services, Champion Energy (1/5), and Spark Energy (1/25) have active ComEd residential offers. Constellation has also confirmed its residential market entry for late February or early March (1/18).
Energy Plus Holdings, LLC, which now serves 150,000 Residential Customers Equivalents (RCEs), also told Matters that it intends to expand its retail gas marketing to several additional states this year, including both those states where Energy Plus Holdings, LLC markets electric supply, and states where it does not currently have a presence.
Energy Plus Holdings, LLC is currently active in the Connecticut, Maryland, New Jersey, New York, Pennsylvania, and Texas electric markets. To date, retail gas supply has been limited to New York under a test program, but Kleinschmidt reported that the company has been pleased with customer reception to its gas marketing, and is ready for expansion.
Kleinschmidt forecast that Energy Plus Holdings, LLC will reach 250,000 RCEs by the end of the year under its growth initiatives.
In Pennsylvania, Energy Plus Holdings, LLC is active at PECO, PPL, and Duquesne Light, serving over 10,000 customers in the state. More than half, or over 5,000 customers, are at PECO, while the remainder are mostly in PPL, with the balance at Duquesne Light. Kleinschmidt reported that Energy Plus Holdings, LLC anticipates serving residential electric customers in additional Pennsylvania territories next year. Energy Plus Holdings, LLC, based in Philadelphia, yesterday unveiled its new headquarters, a 40,000 square foot space in the University City Science Center.
Aside from its six active electric markets, Energy Plus Holdings, LLC also holds a Massachusetts electric license. Kleinschmidt told Matters that while Energy Plus Holdings, LLC is prepared to enter the Massachusetts residential market when conditions warrant, at this time it is still evaluating the competitive landscape. Purchase of Receivables, which remains pending before the DPU, would be one factor influencing any decision on the Massachusetts market, but would not be the exclusive factor, Kleinschmidt said.
Energy Plus Holdings, LLC has grown revenues from $20,000 in its first year (2007) to $60 million in 2009 and $150 million in 2010. Energy Plus Holdings, LLC anticipates 2011 revenues of $250 million.
As chronicled in Matters (9/8/08, 1/28/09), Energy Plus Holdings, LLC relies heavily on rewards, loyalty, and affinity programs in its marketing strategy. Energy Plus Holdings, LLC now counts over 65 rewards or loyalty partners under various programs, and in 2010 distributed over 400 million in airline, hotel, and retail loyalty program miles and points and more than $2 million.
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