CenterPoint Energy Services Acquires Marketer Asgard Energy

CenterPoint Energy Services, Inc. (CES) announced today that it acquired Asgard Energy, LLC effective November 1.

Among other things, the acquisition provides CenterPoint Energy Services with a platform in the residential gas choice market.

Asgard, headquartered in Denver, Colo. is a natural gas marketing company that supplies natural gas to commercial, industrial, agricultural and residential customers in five states including Colorado, Kansas, Nebraska, Wyoming and West Virginia.

CES is CenterPoint Energy's non-regulated energy marketing group, providing competitively priced natural gas along with related energy management services to commercial, industrial and wholesale customers located primarily in the eastern half of the United States.

"The acquisition of Asgard is a natural extension of our geographical footprint and part of our strategy to expand into the Rockies market," said Eric Sullivan, vice president of Marketing for CES. "Additionally, this will allow us to diversify and expand our expertise into residential choice markets."

The acquisition includes more than 1,400 diverse large volume commercial and industrial customers and 13,000 individual accounts in the SourceGas Choice program in Nebraska and Wyoming. "When combined with its existing portfolio, the Asgard acquisition enhances CenterPoint Energy's position as a major U.S. energy supplier by expanding its reach into new markets," CenterPoint said.

CES will retain all Asgard employees and provide service to its new customers from a Denver, Colo. office.