May 29, 2020
NRG Acquires Second Book Of Texas Electric Customers
US Retailers, LLC, d/b/a Cirro Energy and Discount Power, which are brands of NRG, have acquired the Texas retail energy business of Texans Energy.
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Mergers, Acquisitions & Finance
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May 19, 2020
Integrated Retail Supplier-Generator Receives Investment Grade Rating from Standard and Poor's
Energy Harbor Corp., the former FirstEnergy Solutions, announced that the company has received an investment grade rating of BBB– with a Stable outlook from Standard and Poor's.
May 14, 2020
Operator Of Texas Retail Electric Provider Announces Growth Investment From PE Firm
Conservice, a provider of utility management and billing solutions to property owners and managers, and which operates retail electric provider Conservice Energy in Texas, announced the close of a "significant strategic investment" by Advent International (Advent), a global private equity investor.
May 8, 2020
Exelon Reports COVID-Related Declines In Gross Margin In Constellation Business
During an earnings call, Exelon detailed the impact from COVID-19 on gross margin and load at its Constellation business
May 7, 2020
NRG Changes Reporting Segments For Earnings, Retail Results No Longer Reported Separately
NRG has reported earnings for the first quarter of 2020. In doing so, NRG has changed its business segments for reporting earnings, and no longer reports results specific to Retail operations
May 6, 2020
Spark Energy Reports Growth In Adjusted EBITDA, Higher Unit Margins For Q1
Spark Energy, Inc. ("Spark" or the "Company") reported higher Adjusted EBITDA and unit margins for the quarter ended March 31, 2020.
May 5, 2020
Update: New Private Equity Owner Of Retail Supplier Revealed
Deal Provides Access To Capital For Supplier's Organic Growth, Strategic M&A
Boyne Capital (Boyne) announced that it has partnered with management to acquire Pilot Power Group (Pilot or the Company), which acts as a retail electric supplier in addition to being a provider of electric utility billing & data management services, energy portfolio management, and energy…
May 5, 2020
Vistra CEO: Texas Retail Market Would Have Seen "Carnage" Without PUC REP Reimbursement Program
Curt Morgan, Vistra Energy's president and chief executive officer, said during an earnings call today that the Texas retail electric market would have seen, "carnage", had the Texas PUC not adopted a previously reported Electricity Relief Program that reimburses retail electric providers $0.04/kWh…
April 28, 2020
Exelon Invests In Real-Time Energy Data Monitoring Company, Notes Potential Application At Constellation
Vutiliti which describes itself as a, "smart utility monitoring company," announced today that it has received a Series A investment of $11.75 million led by Constellation Technology Ventures, the venture investing arm of Exelon Corporation, and Cycle Capital Management.
April 27, 2020
Retail Supplier Receives Loan Under SBA Paycheck Protection Program
Summer Energy Holdings, Inc. (the 'Company') reported in an 8-K that on April 20, 2020, Summer Energy Holdings, Inc., as borrower, received $2,342,300 in loan funding from the Small Business Administration ('SBA') Paycheck Protection Program ('PPP'), established pursuant to the recently enacted…
April 23, 2020
NextEra Energy Resources Battery Storage Investments In 2021 Expected To Exceed $1 Billion, Said To Be Largest Ever Annual Investment By Any Power Company Worldwide
Reports Lower Contribution From Customer Supply & Trading Business
During an earnings call, Jim Robo, Chairman and Chief Executive Officer of NextEra Energy, Inc. said that NextEra Energy Resources's battery storage investments in 2021 are now expected to exceed $1 billion
April 14, 2020
Retail Supplier Ceases Pricing Texas Deals, Tells Channel Partner That Supplier Will Be Late On Payment
Liberty Power has ceased pricing new retail energy supply deals for an interim period, multiple sources have confirmed to EnergyChoiceMatters.com
April 14, 2020
Updated: Genie Retail Energy Acquiring Retail Supplier
AEG Affiliated Energy Group represented represented the seller, Thermo Choice, LP, in the transaction
April 13, 2020
Just Energy Announces Sale of Japanese Business
Just Energy Group Inc. today announced that it has sold all of the shares of Just Energy Japan KK ("Just Energy Japan") to Astmax Trading, Inc.
April 9, 2020
Retail Supplier Undergoes Ownership Change
Pilot Power Group, Inc., a retail electric supplier, reported in a regulatory filing that the Company was recently involved in a reorganization transaction that consists of the following (the "Transaction"):
April 9, 2020
In Strategic Review Update, Just Energy Says It Is, "No Longer In Active Discussions Regarding A Specific Transaction"
Continues To Explore Alternatives, Certain Asset Sales Also Provides Update On COVID-19
Just Energy Group Inc. ('Just Energy' or the 'Company') today provided an update on its previously announced strategic review process, "which has taken into account the impact of COVID-19 on the Company and the markets more generally," the Company said
April 8, 2020
Oaktree Funds To Discuss With Parent Of Retail Supplier Plans For Enhancing Shareholder Value; Disclose Holdings In Schedule 13D
Various Oaktree funds and related entities ("Reporting Persons") have filed a Schedule 13D with the SEC disclosing their position in Sprague Resources LP, as the Oaktree funds said that they would discuss with Sprague Resources LP (the "Partnership") the Partnership's plans to enhance shareholder…
April 7, 2020
Just Energy Sets August Date For Shareholder Meeting To Address Board Composition Changes Sought By Rob Snyder
Snyder Seeks Lists Of Just Energy Shareholders
Just Energy Group Inc. ("Just Energy" or the "Company") announced on April 6 that it will hold its annual and special meeting of shareholders (the "Meeting") on August 11, 2020.
April 1, 2020
Just Energy Announces Amendments to Debt Covenants
Reports Suspension Of In-Store, Door-to-Door Marketing
Just Energy Group Inc. ("Just Energy" or the "Company") announced today that it has amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.15:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the fourth quarter of the…
March 30, 2020
Another Retail Supplier Details Risks From COVID-19 In SEC Filing
Supplier Expects Unit Gross Margin To Improve In 2020
Summer Energy Holdings, Inc. filed a 10-K detailing its 2019 financial results, and included a disclosure of various risk factors, including the coronavirus (COVID-19) outbreak.
March 27, 2020
Majority Shareholder Submits Proposal To Acquire Parent Of Retail Supplier
Sprague Resources LP (Sprague') announced today that it received an unsolicited non-binding proposal from Sprague Resources Holdings LLC (Holdings') dated March 25, 2020, pursuant to which Holdings would acquire all of the outstanding common units of Sprague that Holdings and certain of its…
March 25, 2020
Just Energy Receives Continued Listing Standards Notice From NYSE, Regarding Failure To Maintain Average Closing Share Price Of At Least US$1.00
Just Energy Group Inc. ('Just Energy' or the 'Company') announced that, on March 23, 2020, it received written notification from the New York Stock Exchange ("NYSE") that it was not in compliance with the standard set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed…
March 24, 2020
TXU Working With Texas PUC, Governor On Bad Debt "Backstop Mechanism"; Recovery Of Bad Debt From Coronavirus Emergency
Curt Morgan, Vistra Energy's president and chief executive officer, said during a Wolfe Research fireside chat that Vistra, which owns various retail energy providers in Texas including TXU, is working with the PUC and other stakeholders on a bad debt "backstop mechanism" in light of the current…
March 18, 2020
Just Energy Issues Statement Concerning Shareholder Meeting Requisition From Rob Snyder
Just Energy Group Inc. issued the following news release concerning the request from Rob Snyder, as Trustee for The Robert L. Snyder Trust - 2005 Stream, for a special meeting of the shareholders to consider modifying the size of the company's Board of Directors, to remove certain current board…
March 16, 2020
Moody's Downgrades Centrica (Direct Energy Parent) Credit Ratings
Centrica issued a statement noting the announcement from Moody's Investor Service (Moody's) that Moody's is downgrading the issuer and senior unsecured long-term credit ratings of Centrica to Baa2 (stable outlook) from Baa1 (negative outlook).