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bp To Acquire U.S. Retail Energy Supplier
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bp today announced it has agreed to purchase EDF Energy Services (EDF ES), expanding bp's presence in the US commercial and industrial (C&I) retail power and gas business.
EDF ES's customers are primarily large corporations and public entities, including retailers, universities, manufacturers and producers, municipalities and power generators. It does not supply residential consumers.
"EDF ES has a wide geographical reach and a significant set of diverse C&I customers, expanding bp's capability to deliver energy solutions and additional services directly to large end-user customers in new and existing markets," bp said
"The acquisition also brings new opportunities for enhanced lower carbon integrated energy solutions for C&I customers, integrating with other bp businesses and capabilities that can support decarbonization goals. These could include bp Wind Energy, bp pulse, and bp Launchpad," bp said
Orlando Alvarez, senior vice president gas and power trading Americas, bp: "bp's commitment to putting the customer first has helped make us the largest marketer of natural gas in North America for the last 20 years as well as a top power marketer in the US. This acquisition will give customers access to new opportunities across the energy value chain and allow bp to provide integrated solutions that assist them in decarbonizing, managing energy spend, and increasing reliability."
The agreement includes the purchase of EDF ES's full retail operating capabilities.
bp's gas and power trading Americas works with partners to buy, sell, and move energy to provide solutions to more than 3,500 customers in North America annually.
Subject to regulatory approvals, the deal is expected to close by the end of the year.
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September 12, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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