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Retail Supplier Reports Price, Number Of Customers In Recent Book Acquisition
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In reporting third quarter earnings, Via Renewables, Inc. stated, "On October 28, 2025, we entered into an asset purchase agreement to acquire up to 3,300 RCEs for a cash purchase price of up to a maximum $0.5 million paid in cash or funded in escrow accounts. These electricity customers are located in our existing market and will begin transferring in the fourth quarter of 2025."
Via did not specifically identify the seller in this transaction or in which specific Via market the book is located
However, as previously reported, STAT Energy, LLC, a subsidiary of Wolverine Holdings, has sold its ERCOT retail electricity customer portfolio to Spark HoldCo, LLC, an affiliate of Via Renewables, Inc.
Via also provided updates on amounts held in escrow, and customer transfers, under previously reported book purchases as follows:
"In April and May 2025, we [Via] entered into two asset purchase agreements to acquire up to 16,800 RCEs for a cash purchase price of up to a maximum $1.8 million paid in cash or funded into escrow accounts. These gas customers are located in our existing markets and began transferring in May 2025 and June 2025. As we acquired customers under these acquisition agreements, we made payments to the sellers from the escrow accounts. Funds from the escrow account were released to the sellers as acquired customers transferred from the sellers to the Company in accordance with the asset purchase agreement, and any unallocated balance was returned to the Company once the acquisitions were complete. During the nine months ended September 30, 2025, approximately 17,000 RCEs were transferred related to customer book acquisitions, and we paid $1.4 million to the sellers. As of September 30, 2025, the balance is the escrow accounts was $0.2 million."
"In October 2024, we entered into two asset purchase agreements to acquire up to 100,600 RCEs for a cash purchase price of up to a maximum $16.9 million paid in cash or funded into escrow accounts. These customers are located in our existing markets and began transferring in December 2024 and January 2025. As we acquired customers under these acquisition agreements, we made payments to the sellers from the escrow accounts. Funds from the escrow account were released to the sellers as acquired customers transferred from the sellers to the Company in accordance with the asset purchase agreement, and any unallocated balance were returned to the Company once the acquisitions were complete. As of December 31, 2024, approximately 72,700 RCEs were transferred. During the nine months ended September 30, 2025, approximately 26,300 RCEs were transferred for a total of approximately 99,000 RCEs as of September 30, 2025 related to customer book acquisitions. As of September 30, 2025 and December 31, 2024, the balance is the escrow accounts was $1.0 million and $15.5 million, respectively."
"In April 2024, we entered into an asset purchase agreement to acquire up to approximately 12,556 residential customer equivalents ("RCEs") for a cash purchase price of up to a maximum of $2.3 million. These customers began transferring in June of 2024, and were in our existing markets. As part of the acquisition, we funded an escrow account, the balance of which was reflected as restricted cash in our condensed consolidated balance sheet. As we acquired customers, we made payments to the sellers from the escrow account. As of December 31, 2024, we completed this acquisition and approximately 9,300 RCEs were transferred. The balance of $0.4 million in the escrow account as of December 31, 2024, was returned to the Company in the first quarter of 2025. As of September 30, 2025, the balance in the escrow account was zero."
Via reported its total RCEs as of September 30, 2025 as 419,000, versus 402,000 as of June 30, 2025, and 328,000 a year ago
Via reported that, "During the three months ended September 30, 2025, we added approximately 57,300 RCEs primarily through our various organic sales channels," with the additions understood to mean gross additions
During the three months ended September 30, 2025 and 2024, Via spent a total of $3.4 million and $2.1 million, respectively, on organic customer acquisitions.
Via reported Adjusted EBITDA of $9.5 million for the quarter ending September 30, 2025, versus $10.3 million a year ago
Via reported Retail Gross Margin of $27.8 million for the quarter ending September 30, 2025, versus $30.0 million a year ago. Via reported lower unit margins per MWh or MMBtu for both electricity and gas for the quarter ending September 30, 2025, versus the year-ago
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November 6, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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