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GDF SUEZ Energy Resources NA To Acquire Retail Customer Book

January 8, 2016

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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

GDF SUEZ Energy Resources NA, Inc. and Guttman Energy Inc. announced that they have entered into an agreement under which GDF SUEZ Energy Resources will acquire Guttman Energy's electricity supply customers.

GDF SUEZ Energy Resources NA said that, "This move further reinforces GDF SUEZ Energy Resources' commitment to customers in Ohio and Pennsylvania and follows through on a strategic growth objective in those states."

Guttman Energy, a large oil and fuels marketer, launched a retail electric and natural gas supply business in 2013.

Mike Senff, President of Guttman Energy, said, "Through the efforts of a very dedicated and talented team, we've enjoyed much success in the sale of retail electricity. However, we've decided to redeploy capital into assets that are more closely related to our core operations, which continues to include natural gas marketing."

"GDF SUEZ Energy Resources has been in business since 2002, and since opening our doors, we have taken great pride in building our business 100 percent organically," stated Graham Leith, VP of Sales. "Now – as one of the largest commercial and industrial electricity suppliers in the nation – we are shifting our focus to bring our customer service, risk management capabilities, and products and services to a broader range of customers."

Leith added, "The transaction is a fivefold increase in the number of customers we serve in Ohio and Pennsylvania. GDF SUEZ Energy Resources will honor each and every customer and broker contract that Guttman Energy has in place."

The transaction is expected to close by the end of February.

GDF SUEZ Energy Resources NA, Inc. describes itself as the third-largest non-residential electricity provider in the U.S.

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