|
|
|
|
Texas-based Retail Provider Acquired by Australian Supplier
Source Power & Gas has been acquired by Australian electricity retail specialist ERM Power Limited, the fourth largest electricity retailer in Australia.
Source CEO and President John Werner, said that Source, "will become the vehicle for ERM Power’s expansion in the US." Source said that it will leverage ERM Power's expertise to accelerate its growth in the U.S.
Source currently serves tens of thousands of commercial and residential customers across multiple states within ERCOT and PJM.
Mitch Anderson, CEO of ERM Power's retail business, said, "The acquisition of Source Power & Gas comes after a lengthy study of the US market over the past 12 months to find the right team to launch our business here."
According to Source, ERM Power, "has built a highly successful retailing business based on a differentiated service model incorporating superior customer service and proprietary IT systems."
The senior management of Source Power & Gas is remaining with the company. The transaction is expected to close in early 2015.
ERM Power is a diversified Australian energy company with interests in electricity sales, generation and
metering, and gas production and exploration.
In Australia, ERM Power initially focused on serving larger businesses but now also offers services to small
businesses. ERM Power has equity interests in 497 megawatts of gas fired peaking power stations in
Western Australia and Queensland, and operates an electricity metering business that trades as Powermetric
ADVERTISEMENT Copyright 2010-14 Energy Choice Matters. If you wish to share this story, please
email or post the website link; unauthorized copying, retransmission, or republication
prohibited.
December 11, 2014
Email This Story
Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Manager-Retail Key Account Sales -- Retail Supplier
• NEW! -- Energy Advisor -- DFW
• NEW! -- Business Development Director
• NEW! -- Scheduling/Business Analyst -- Retail Provider
• NEW! -- Staff Accountant -- Retail Provider -- Houston
• NEW! -- Regional Sales Manager -- Retail Provider -- PA/IL/New England/Texas
• NEW! -- Sr. Pricing Analyst -- Retail Provider -- Houston
• NEW! -- Senior Energy Markets Pricing Analyst
• NEW! -- Energy Markets Analyst
• NEW! -- Utility Rules Analyst -- Retail Supplier
• NEW! -- Compliance Analyst -- Retail Supplier
• Manager Government and Regulatory Affairs - Texas -- Competitive Supplier
• Account Manager -- Retail Supplier -- New York
|
|
|