Energy Choice
                            

Matters

Australian Retail Supplier Sells Its U.S. Residential Retail Supply Business

April 4, 2017

Email This Story
Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Australia-based ERM Power Limited announced the sale of its Source Power & Gas residential electricity retailing business for approximately US$11 million, subject to usual completion adjustments.

ERM Power had previously initiated a process to divest its non-core U.S. residential book to allow the U.S. business to focus exclusively on growing the Commercial and Industrial customer base.

"The sale proceeds exceed the original purchase price of Source Power & Gas, acquired by ERM Power in early 2015. The divestment of the non-core residential retailing book ensures we direct our resources and efforts to our core area of expertise, the C&I market, which has been the hallmark of our success in Australia," said ERM Power CEO and Managing Director Jon Stretch

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Corporate Counsel -- Retail Supplier
• NEW! -- Sales Manager -- Retail Supplier -- New York
• NEW! -- Sales Manager -- Retail Supplier -- MA / NJ
• NEW! -- Sales Agent -- Retail Supplier -- Multiple markets
• NEW! -- Customer Retention -- Retail Supplier -- Houston
• NEW! -- Director of Channel Sales -- Retail Supplier
• NEW! -- Regulatory Response I/C -- Retail Supplier -- Houston
• NEW! -- Channel Manager, Sales -- Retail Supplier -- Houston
• NEW! -- Commercial Sales B2B -- Retail Energy
• NEW! -- Brand/Marketing/Channel Manager -- Retail Energy
• NEW! -- Business Development Professional -- Retail Supplier -- Houston
• NEW! -- Senior Analyst -- Retail Energy -- Houston
• NEW! -- Manager of Regulatory Affairs -- Retail Supplier
• NEW! -- Channel Manager, Sales -- Retail Supplier
• NEW! -- Implementation Manager -- Retail Energy -- Houston