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Retail Supplier Inks Wholesale Supply Contract; Reports Fiscal Results

April 18, 2016

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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Aspirity Holdings LLC reported results for the year ending December 31, 2015, which the company called a transformative year as it exited certain businesses, sold its existing retail suppliers (Town Square Energy) and began the launch of a slate of new retail suppliers under the Aspirity brand

In reporting earnings, Aspirity disclosed that Aspirity Energy closed on a full requirements preferred supply agreement with Exelon Generation Company LLC

As previously reported, the new Aspirity retail suppliers recently launched service, with enrollments beginning in January 2016 in southern Ohio. Since that time Aspirity has added additional utility service territories in northern Illinois, central Ohio, and eastern Pennsylvania.

"We expect to continue adding additional territories throughout the year and plan on being able to market to approximately 38,000,000 residential customers in the 14 full choice jurisdictions by year’s end," Aspirity Holdings CEO Mark Cohn said

"It was a transformative year for Aspirity. We completed our investor- and board-approved restructuring in November after many months of planning. As has been previously said, our ultimate goal is a public offering of equity in the next few years. The restructuring enabled us to eliminate the revenue and earnings volatility and regulatory exposure characteristic of the legacy businesses and as evidenced by recent financial results. We are pleased to have now recast the Company solely as a marketing-driven retail energy and financial services business beginning in 2016," Cohn said

For the year 2015, Aspirity Holdings reported revenues of $48.1 million, compared to $49.8 million for 2014. Retail energy sales in 2015 were $30.5 million, versus $11.2 million a year ago

For the year 2015, Aspirity Holdings' operating loss totaled $4.3 million, versus operating income of $6.4 million a year ago.

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