January 8, 2014
Retail Supplier Receives $11 Million in Series A Funding
Retail energy supplier Ethical Electric announced that it received $11 million in Series A funding confirmed on December 31, 2013.
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Mergers, Acquisitions & Finance
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January 3, 2014
Market Monitor: Behavioral Mitigation "Needed" to Address Market Power Issues from NRG Acquisition of Edison Mission
Behavioral mitigation measures are "needed" to address market power issues in the PJM regulation market which would arise from NRG Energy's acquisition of Edison Mission Energy, Monitoring Analytics, PJM's independent market monitor, said in updated comments to FERC.
December 30, 2013
FERC Approves Sale of Retail Energy Supplier to Twin Cities Power
FERC recently approved Twin Cities Power Holdings, LLC's application to acquire all of the membership interests in retail energy supplier Discount Energy Group, LLC.
December 27, 2013
Start-up Retail Supplier LVI Power to Acquire Mid-Atlantic Retail Provider
Start-up retail supplier LVI Power, LLC has entered into a transaction to acquire Castlebridge Energy Group, LLC, according to an application filed at FERC.
December 23, 2013
Investor Evaluating "Strategic Alternatives" for Multiple Start-up Retail Suppliers
The original sole member of three start-up retail energy suppliers is currently evaluating "strategic alternatives" for the suppliers.
December 20, 2013
Details Emerge on Glacial Energy Acquisition
Details concerning the acquisition of various Glacial Energy retail suppliers by a company backed by private equity have emerged in a FERC application for approval of the transaction.
December 18, 2013
Parent of Texas Retail Electric Provider to Sell its Texas Gas-Fired Generation
Centrica plc announced that its North American subsidiary, Direct Energy, has agreed to sell its Texas gas-fired power stations to Blackstone for $685 million in cash.
December 17, 2013
Sale of Retail Supplier with 300,000 Customers Falls Through, Parent Re-opens Sale Process
MVC Capital, Inc. announced yesterday the termination of its agreement to sell U.S. Gas and Electric (USG&E) to United States Gas & Electric Holdings, Inc. ("US Holdings"), a company that had been organized to acquire USG&E.
December 16, 2013
ITC Ends Pursuit of Entergy Texas Transmission Assets
Entergy Corporation and ITC Holdings Corp. announced Friday that the companies have mutually agreed to end their pursuit of a spin off and merger of Entergy's transmission business with ITC.
December 16, 2013
Parent of Retail Supplier Sells Non-Core Business
Just Energy Group Inc. announced that it has entered into a Share Purchase Agreement pursuant to which it has agreed to sell all of the issued and outstanding shares of Terra Grain Fuels Inc., an ethanol producer, to a group of unnamed Saskatchewan businesses.
December 13, 2013
National Retail Energy Supplier To Be Acquired by Private Equity-Backed Company
The assets of Glacial Energy Holdings will be acquired by Voltage Energy Holdings Inc., a private equity-backed company.
December 12, 2013
Surprise! Opponent of Electric Choice, Which Decried "Out-of-State" Competitive Providers, Seeks OK to Be Bought by Foreign Conglomerate
A utility opposed to electric choice by stressing service by "local companies" in contrast to "out-of-state" competitive providers wants to be taken over by a foreign energy conglomerate.
December 11, 2013
State Denies Acquisition of Entergy Transmission by ITC Subsidiary (Another Opportunity for Texas to Go Back to Drawing Board on Future of Entergy Texas)
The Mississippi PSC has denied the application of ITC Holdings, through a subsidiary, to acquire the transmission assets of Entergy Mississippi.
December 10, 2013
Retail Supplier Acquires Broker, Network Marketer
IDT Energy said that it will acquire Dallas-based Diversegy, LLC, a retail energy advisory and brokerage company that serves commercial and industrial customers, and its network marketing channel, Epiq Energy.
December 4, 2013
Rockland Capital Terminates Agreement to Purchase Generation in ISO-NE due to FERC Inquiry into Plants' Present Owner
Maxim Power Corp. announced today that Patriot Power Holdings, LLC, an affiliate of Rockland Capital, has issued a notice to Maxim to terminate the agreement to purchase 100% of Maxim's ownership interest in Maxim Power (USA), Inc. due to an outstanding regulatory inquiry by the Federal Energy…
December 4, 2013
Twin Cities Power Holdings, Parent of Town Square Energy, to Acquire Retail Supplier
Twin Cities Power Holdings, LLC recently entered into a membership interest purchase agreement to acquire all the membership interests in retail energy supplier Discount Energy Group, LLC.
December 3, 2013
NRG Yield, Inc. To Acquire Energy Systems Company
NRG Yield, Inc., in its first third-party acquisition, has entered into an agreement to acquire the assets of privately held Energy Systems Company (ESC) of Omaha, Neb., a supplier of district energy, for $120 million in cash.
December 2, 2013
Calpine to Acquire Texas Power Plant
Calpine Corporation this morning announced that it has agreed to purchase a nominal 1,050 megawatt, combined-cycle power plant for $625 million, or approximately $595 per kilowatt, exclusive of adjustments relating to development rights and working capital, from MinnTex Power Holdings, LLC, a…
November 27, 2013
Canadian Retail Supplier Newly Entering U.S. Market Secures Supply, Credit Agreement to Support Growth
ONEnergy Inc. announced today that its wholly-owned retail energy supplier subsidiary Sunwave Gas & Power Inc. has entered into agreements with Shell Energy North America (Canada) Inc. and Shell Energy North America (US), L.P. under which Shell Energy will supply energy, credit support, and…
November 22, 2013
Briefly
Dynegy Receives Final Approval for Acquisition of Ameren Plants, Retail Supplier
November 18, 2013
Allconnect Acquires Leading Rival in Broker, Home Service Connection Space
Allconnect, Inc. has announced its acquisition of Texas-based online marketer WhiteFence, Inc.
November 15, 2013
Direct Energy Parent: Margins in Texas Reduced due to "Intensified" Competition
Centrica, the parent of Direct Energy, released an interim management statement yesterday which said the following regarding Direct Energy:
November 15, 2013
Pennsylvania Approves Peoples-Equitable Merger With Retail Market Enhancements
The Pennsylvania PUC adopted a non-unanimous settlement which authorizes the merger of Peoples Natural Gas and Equitable Gas, and related transactions, and contains various measures to improve the retail market.
November 13, 2013
NRG: Retail Not Even a "Secondary" Consideration in Edison Mission Acquisition; But Does Allow a Second Look at Municipal Aggregation Market
The retail supply business was not even a secondary consideration of NRG Energy in deciding to enter into an agreement to acquire Edison Mission Energy, NRG CEO David Crane said on an earnings call yesterday, but the acquisition would allow NRG to take a "slightly harder" look at the municipal…
November 7, 2013
IDT Energy Sees Higher Net Customer Attrition on Slower Gross Acquisitions
IDT Energy saw an increased level of net customer attrition during the three months ended September 30, 2013, from a slowdown in gross meter additions.