Retail Supplier Identifies Further Contracts Not Being Included In Book Sale Due To Switch Blocks, Will Drop Such Customers To SOS

January 6, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Liberty Power Holdings, LLC, and related debtors (collectively, "Liberty"), have identified certain additional pre-petition and post-petition Selected Customer Accounts that are not either being sold to buyer NRG Energy under the previously reported Stalking Horse Agreement or where such the Customer has elected to "block" or prevent the transfer of its Customer Contract to NRG, as Liberty sought bankruptcy court approval to reject and/or terminate such customer contracts

Liberty identified a total of 367 such pre-petition accounts across the following states: Illinois (7), Massachusetts (116, of which 105 are 'blocked' accounts), Ohio (9), Rhode Island (14, of which 11 are 'blocked' accounts), New York (213, of which 210 are 'blocked' accounts), Pennsylvania (7, of which 2 are 'blocked' accounts), and New Jersey (1) (collectively, the 'Pre- Petition Customer Accounts')

Liberty identified a total of 69 such post-petition accounts across the following states: Illinois (6), New York (20, of which 19 are 'blocked' accounts), Pennsylvania (1), Massachusetts (16, of which 6 are 'blocked' accounts), New Jersey (7), Maryland (3), Ohio (13), and Rhode Island (3)

"The Debtors have determined, in the reasonable exercise of their business judgment, that the Selected Customer Accounts no longer serve any business purpose for the Debtors and are burdensome to the Debtors’ estates. Despite the Debtors’ marketing efforts, the Debtors have not been able to generate a cost effective transaction for the sale and assignment of the Selected Customer Accounts. As a result, the Debtors have concluded that the best course of action for the Debtors and their bankruptcy estates is (i) to reject the pre-petition Selected Customer Accounts, and (ii) to terminate the post-petition Selected Customer Accounts, and in each case to transition the Customers thereunder to another provider of electrical service in their respective States," Liberty said

Such customers under the rejected and/or terminated contract would be returned to default service

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