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Electricity Growth Propels Great Eastern Energy Past $400 Million in Annual Revenues
Rapid growth in its retail electricity marketing, launched in 2010, has propelled Great Eastern Energy past $400 million in annual gross revenues, CEO Matt Lanfear told EnergyChoiceMatters.com in a recent interview.
Great Eastern Energy traces its roots to heating oil marketing, and expanded to natural gas in the 1990s.
It added electricity sales in 2010 to provide a "one-stop shop" to customers, and continues to emphasize that 360-degree approach to customers' energy needs by offering, either itself or through various partnerships, demand control, retrofitting, benchmarking, and energy efficiency services.
Great Eastern Energy now offers energy supply in New York, New Jersey, and Massachusetts, and Lanfear told EnergyChoiceMatters.com that the company now serves 28,000 accounts.
Recent expansion in electricity has included the Massachusetts market, where Great Eastern Energy has been active for about a year. Lanfear said that the company has several new Northeast markets on the horizon, including specifically Connecticut.
Great Eastern Energy's growth has come organically, but Lanfear noted that M&A activity in the retail energy sector is "ramping up." The company is looking at a "fairly decent" potential acquisition opportunity, and is interested in inorganic growth if the price is right.
See More From Our Interview With Great Eastern's Matt Lanfear:
New Gas Supply Paradigm, Outdated Tariffs Challenging New York ESCOs
REV Provides "Unlimited Opportunity" to Retail Suppliers
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March 31, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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