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Retail Supplier Exiting Market, Books Purchased By GDF Suez

June 26, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Gulf Oil Limited Partnership has, "recently reevaluated its business focus and made a strategic decision to exit the retail electric supply business."

Consistent with that decision, on June 18, 2015, Gulf executed an Asset Purchase Agreement with GDF SUEZ Retail Energy Solutions, LLC d/b/a Think Energy pursuant to which Think Energy will acquire Gulf Oil's retail electric supply customers.

Gulf Oil informed Connecticut regulators that Think Energy will abide by the price and other terms of the Gulf Oil contracts

The Gulf Oil electricity book, which includes customers in several Northeast states, includes over 11,000 customers in Connecticut alone.

In Connecticut, Gulf Oil anticipates completing the customer assignment process to Think Energy by the end of September 2015

Gulf Oil intends to relinquish its electric supplier license once all of its retail customers are transferred to Think Energy or otherwise have secured retail electric supply, it told Connecticut regulators

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