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Retail Supplier Said To Be Very Close To Sale Of Electric Business
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Eligo Energy is nearing a deal to sell its retail electricity business, according to a source familiar with the matter.
Eligo provided the following statement concerning the matter: "No comment but Eligo is currently being advised by Vin Deshpande at Drexel Hamilton to explore strategic alternatives."
Preston Ochsner of Ochsner Interests, Inc. has reported that the CEO of a retail provider which is looking at the Eligo business said that Eligo is very close to a deal for Eligo's power business and is actively shopping the gas business. The source requested anonymity due to the sensitive nature of the discussions. Ochsner Interests, Inc. does not represent Eligo.
The source describes Eligo's gas business as small -- about 11,000 RCEs -- but noted that the power business is significantly larger.
As previously reported, Eligo last year sold the entities Phoenix Energy Group, LLC; Eligo Energy TX, LLC; and Eligo Energy ME, LLC to a subsidiary of Yardi Systems, Inc., with Eligo Energy at such time retaining all of its other retail energy suppliers active across the Northeast.
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January 12, 2024
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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