December 3, 2019
Company Led By Texas Retail Market Vets Acquires Retail Supplier
Retail supplier Capital Energy PA LLC is now owned by Sunrise Energy Holdings LLC, according to a filing with the Pennsylvania Department of State.
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Mergers, Acquisitions & Finance
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December 2, 2019
Retail Supplier To Be Sold
Verso Paper Holding LLC, an indirect, wholly-owned subsidiary of Verso Corporation, has entered into a transaction under which it will sell 100% of the equity interests of Verso Androscoggin LLC (Androscoggin), including its FERC-jurisdictional facilities, and 100% of its equity interests in retail…
December 2, 2019
Just Energy Announces Senior Debt Covenant Amendment and Suspension Of The Dividend On Its Series A Preferred Shares
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 2.00:1 for the third quarter of Fiscal 2020.
November 22, 2019
Update: Constellation Provides Expected Customer Count To Be Acquired From Agera Energy As Transaction Closes
Constellation announced that it has completed its acquisition of a portion of Agera Energy’s electric retail and natural gas customer accounts
November 13, 2019
Bankruptcy Court Approves Sale Of Agera Energy Customers To Constellation
A federal bankruptcy court has approved the sale of various Agera Energy LLC, Aequitas Energy, Inc. and energy.me midwest llc retail energy customer contracts to Exelon Generation Company, LLC (Constellation)
November 8, 2019
NRG Energy Reports Year-To-Date Net Capital Expenditures For Small Retail Book Acquisitions
In reporting earnings for the third quarter of 2019 (see earnings story from yesterday here) , NRG Energy also reported its year-to-date net capital expenditures for the acquisition of small retail energy books
November 8, 2019
Retail Energy Supplier Serving 95,000 Customers In PJM, New York Evaluating Strategic Alternatives, Goes To Market
A retail energy supplier serving 95,000 residential and small business electricity and natural gas customers in PJM and New York is exploring strategic alternatives
November 7, 2019
NRG Says Retail Growth, Acquisitions A Focus For Investment
In reporting third quarter earnings today, NRG Energy said that, for its Retail segment, Adjusted EBITDA was $269 million for the quarter ending September 30, 2019, which was flat versus the year-ago quarter
November 7, 2019
Report: Texas Retail Electric Provider Acquires Book Of Customers
In a filing with the Public Utility Commission of Texas, concerning a petition from Staff of the PUCT to revoke the retail electric provider certificate of Axon Power & Gas (Axon), Texas-New Mexico Power Company (TNMP) stated, "on September 30, 2019, representatives of TNMP had a conference call…
November 6, 2019
Updated: Just Energy Announces Buyer For Another International Business, Discloses Proceeds
Flogas Natural Gas Limited said that it is acquiring about 10,000 residential and commercial customers from Just Energy Ireland under the transaction first reported by EnergyChoiceMatters.com on November 6, as noted below
November 5, 2019
Spark Energy Reports 78% Increase In Electricity Unit Margins, Lifts Earnings
For the quarter ended September 30, 2019, Spark Energy, Inc. reported Adjusted EBITDA of $28.1 million, compared to Adjusted EBITDA of $18.6 million for the quarter ended September 30, 2018.
November 5, 2019
Vistra Energy CEO: Retail Opportunities Are The "Biggest" Investment Opportunity In Near Term
Reports Negative Impact From Retail Term Contract Backwardation
November 5, 2019
Broker, Parent File For Bankruptcy
Zenergy Brands, Inc., along with subsidiaries NAUP Brokerage, LLC, Zenergy Power & Gas, Inc., and Enertrade Electric, LLC, recently filed voluntary Chapter 11 petitions for bankruptcy
November 4, 2019
No Competing Bids For Agera Energy Book Received
Other than Constellation's previously reported stalking horse bid, no other third party bids were received for Agera Energy's retail energy customer book
November 4, 2019
Dominion Energy Contributing Retail Energy Business To New Partnership Created With IGS Energy, Financial Details Disclosed
In September 2019, Dominion Energy entered into an agreement to form Wrangler Retail Gas Holdings, LLC, a partnership with Interstate Gas Supply, Inc. Wrangler will operate a nonregulated natural gas retail energy marketing business with Dominion Energy contributing its nonregulated retail energy…
October 30, 2019
Parent Reports Broker Will Be Close To Break-Even Target
In reporting third quarter earnings, Edison International provided an update on its broker and energy consulting business, Edison Energy
October 29, 2019
Albireo Energy Acquires Customer Portfolio From Energy Procurement Consultant
Albireo Energy, a building automation and energy services company whose services include energy procurement consulting, announced its acquisition of Bridge Power Consulting’s portfolio of customer contracts.
October 29, 2019
Rob Snyder Increases Holdings In Just Energy To 9.3% Of Common Shares
Has Communicated With Other Significant Stockholders Of Just Energy Regarding Monitoring Of Strategic Review, With A, "View Towards Other Potential Courses Of Action Regarding Their Investment In The Company, Contingent Upon The Outcomes Of The Strategic Review"
October 28, 2019
Retail Energy Provider Acquiring Book Of Customers From Supplier
Nordic Energy Services, LLC has entered into an asset purchase agreement to acquire a customer book from Sanford Energy Associates, LLC d/b/a Powervine Energy
October 15, 2019
FirstEnergy Solutions Says Judge Indicates Bankruptcy Exit Plan Will Be Approved
FES, With Retail Electric Supply Business, Prepares To Be Stand-Alone Company
FirstEnergy Solutions Corp. ("FES") and FirstEnergy Nuclear Operating Company ("FENOC" and with FES, the "Company") today announced that, "the U.S. Bankruptcy Court Judge overseeing the Chapter 11 restructuring will confirm the Company's Plan of Reorganization ('the Plan'), enabling the Company to…
October 9, 2019
Updated (10/22): Gas South Acquires Retail Natural Gas Marketing Operations In Florida From Peninsula Energy Services Company
Gas South today officially announced its acquisition of the Florida assets of Peninsula Energy Services Company (PESCO), a subsidiary of Chesapeake Utilities Corporation
October 9, 2019
Updated (10/22): Gas South Acquires Retail Natural Gas Marketing Operations In Florida From Peninsula Energy Services Company
Gas South today officially announced its acquisition of the Florida assets of Peninsula Energy Services Company (PESCO), a subsidiary of Chesapeake Utilities Corporation
October 8, 2019
Just Energy Announces Sale Price, Buyer For UK Operations
Identifies a Further C$20 Million of Cost Savings in North American Operations
Just Energy Group Inc. (the "Company") announced today that it has executed a share purchase agreement to sell the Company’s UK operations, Hudson Energy Supply UK Limited ("Hudson UK"), to Shell Energy Retail Limited ("Shell Energy Retail") for up to £10.5 million (approximately C$17 million).
October 7, 2019
Update: Constellation Stalking Horse Purchase Price For Agera Energy Book Revealed
The Chapter 11 bankruptcy filing of Agera Energy LLC and affiliates (the Debtors) reveals that Constellation's (Exelon Generation Company, LLC, or Exelon) acquisition of the Agera customer book is subject to a bid process under which Exelon has been named the stalking horse bidder
October 7, 2019
AEG Affiliated Energy Group Retained By Three Retail Energy Providers To Run At Least Three M&A Processes
The M&A Team of AEG Affiliated Energy Group announced today their retention by three separate retail energy providers, which in aggregate operate in over 10 states, spanning several ISOs, including ISO-NE, ERCOT, NYISO, a portion of PJM as well as several northeastern gas markets and Georgia’s gas…