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Calpine: Creating Retail "Powerhouse" A Top Priority
Creating a retail energy "powerhouse" is a top priority for Calpine in 2017, Trey Griggs, who was newly named as President of Calpine Retail, said during an earnings call on Friday.
With its original purchase of Champion Energy supplemented by the more recent acquisitions of Noble Americas Energy Solutions and North American Power, Calpine's retail platform is now, "strategically complete," Griggs said
Calpine does not plan to buy other retail platforms unless it finds "deep value" opportunities, Griggs said
Griggs noted Calpine now has three distinct retail sales channels: direct sales to large commercial and industrial customers; indirect or broker-driven business with small C&Is; and the residential mass market.
Calpine disclosed its retail load (65 million MWh total) as 20 million MWh in ERCOT, 37 million MWh in the East (Mid-Atlantic, New England, and some of the Midwest), and 8 million MWh in the West (California, Oregon, etc.)
Volumes are "far and away" weighted towards C&I.
Calpine reported its retail customer count as follows:
• Residential mass market: ~350,000 customers, with a ~65% retention rate
• Indirect, Small C&I and State of Texas Agency Business: ~20,000 customers, with a ~75% retention rate
• Direct, Large C&I: ~1,500 customers, with a 90%+ retention rate
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Retail Platform "Strategically Complete", Not Planning Additional Retail Platform Purchases Absent "Deep Value"
February 13, 2017
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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