Mitsubishi Subsidiary Creates New Retail Energy Company In U.S.

March 16, 2021

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Reporting by Paul Ring • ring@energychoicematters.com

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Diamond Retail Energy, LLC applied for FERC market-based rate authority

Diamond Retail Energy, "intends to trade and market wholesale energy, capacity, and ancillary services within the wholesale markets operated by PJM Interconnection, L.L.C. ('PJM'), ISO New England Inc. ('ISO-NE'), New York Independent System Operator, Inc. ('NYISO'), and the Midcontinent Independent System Operator Inc. ('MISO')."

"In addition to the markets specified above, Diamond Retail Energy intends to trade and market wholesale energy and ancillary services within the wholesale markets operated by the Electric Reliability Council of Texas," Diamond Retail Energy stated in its FERC MBR application

Diamond Retail Energy is wholly owned by Diamond Retail Holdings, LLC ('Retail Holdings'). Retail Holdings is a wholly-owned subsidiary of Diamond Energy Solutions, LLC, which is wholly owned by Diamond Generating Corporation ('DGC').

DGC is a wholly-owned subsidiary of Mitsubishi Corporation (Americas), which is, in turn, a wholly-owned subsidiary of Mitsubishi Corporation, a publicly-traded Japanese corporation.

Through various subsidiaries, DGC owns interests in electric power generation facilities in various markets in the United States

Among other services, DGC provides project development, energy management, and solar and storage solutions

Among Diamond Retail Energy's affiliates are Boston Energy Trading and Marketing LLC

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