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Retail Supplier Announces Strategic Relationship

December 16, 2015

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

Spark Energy, Inc. announced that it has entered into a strategic relationship with an affiliate, Retailco Services, LLC.

Retailco was formed by W. Keith Maxwell III, Spark’s founder and majority shareholder, to provide operational services to Spark and other affiliates of Mr. Maxwell. Effective January 1, 2016, Retailco will provide a multitude of Spark’s back office functions including customer operations and information technology services.

"The formation of this relationship represents a significant step forward in executing on our long-term M&A and organic growth strategy by providing more streamlined operations," said Nathan Kroeker, Spark’s President and CEO.

"Also, in our continued effort to drive down costs, with Retailco’s proposed increased scale and their plans to reduce the overall cost-to-serve, we expect that Spark will immediately realize approximately 5-8% savings in overall general and administrative expenses," Kroeker said

Michael Kuznar, a retail energy veteran who has held several positions at Reliant Energy and its predecessors and successors, has been appointed President of Retailco.

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