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Retail Supplier Acquires Customer Book
LE Energy, LLC announced it has finalized an agreement to purchase the Michigan natural gas customer book of Glacial Energy.
The book consists of approximately 14,500 RCEs, the majority of which are small and large commercial customers.
In June of 2014, Agera Energy was the successful designee of the purchased assets of Glacial Energy, but decided that the Michigan assets did not fit into its overall energy strategy.
According to a news release from LE Energy, LLC, Agera held a competitive process to dispose of the Glacial Michigan natural gas book, and ultimately LE Energy was the successful acquirer.
LE Energy, LLC, which does business in Michigan under the name of Michigan Natural Gas, was formed in 2013 by two industry veterans, Cliff Hare and Philip Cato.
"LE currently has strong portfolio positions in the Michigan and Illinois natural gas space, and plans to expand its footprint across multiple states and market both natural gas and electricity in the future," LE Energy said
Cliff Hare, Chairman and CEO of LE Energy said, "This is a very strategic addition to our Michigan portfolio, and it positions us to be a dominant player in the Michigan retail market. Our experience with Agera was very positive, and we have great respect for their team and business."
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September 17, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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