Energy Choice
                            

Matters

Texas REP Reports Wider Loss

November 18, 2014

Email This Story
Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Summer Energy Holdings, the parent of Texas REP Summer Energy, LLC, reported a wider loss for the three months ending September 30, 2014, as the company continues to attempt to obtain economies of scale.

The net loss for the quarter ended September 30, 2014 was $1.3 million, versus a loss of $957,000 a year ago.

Gross profit in the current-year quarter was $1.2 million, up from $477,000 a year ago.

Revenues for the quarter ended September 30, 2014 were $17.7 million, up from $10.5 million a year ago. The revenues from the 2014 quarter were primarily from commercial customers, and from various long and short-term residential customers, but also include $518,000 from cancellation fees, disconnection fees and late fees

In a 10-Q, Summer Energy said, "Management plans to continue to execute on its sales and marketing program to solicit individual commercial and residential customers. Management also plans to continue to acquire portfolios of commercial and residential customers when offered at reasonable prices."

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Utility Rules Analyst -- Retail Supplier
• NEW! -- Compliance Analyst -- Retail Supplier
• NEW! -- Manager Government and Regulatory Affairs - Texas -- Competitive Supplier
• NEW! -- Account Manager -- Retail Supplier -- New York
• NEW! -- Natural Gas Sales/Operations
• NEW! -- Business Development Director
• NEW! -- Director - Business Analyst and Pricing -- Retail Supplier -- New York
• NEW! -- Regulatory and New Markets Manager -- Retail Supplier -- New York
• Manager, Risk Management -- Retail Supplier -- Houston
• Customer Experience & Retention Manager -- Retail Supplier
• Sales Business Development Manager -- Retail Supplier -- Houston
• Regional Sales Manager - Ohio/Texas/Various -- Retail Supplier