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Parent of Texas REP Exceeds 100,000 RCEs, Reports Earnings Growth

August 13, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Summer Energy Holdings, Inc. announced that as of July 2015, its customer base exceeded 100,000 Residential Customer Equivalents (RCE) with a mix of both residential and commercial customers.

Summer Energy Holdings, Inc. is the parent of Texas retail provider Summer Energy, LLC.

According to a regulatory filing, Summer Energy Holdings, Inc.'s customer count had been 74,000 Residential Customer Equivalents as of April 30, 2015

Summer Energy Holdings, Inc. reported operating income of $811,000 for the quarter ended June 30, 2015, versus an operating loss of $410,000 a year ago.

Net income for the quarter ended June 30, 2015 was $232,000, versus a loss of $1.3 million a year ago.

Revenue for the second quarter of 2015 was $20.1 million, up from $9.9 million a year ago. For the second quarter of 2015, revenues from contract cancellation fees, disconnection fees and late fees was $647,000.

Gross profit was $3.6 million for the second quarter of 2015, versus $1.1 million a year ago.

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