Resident Power Serving More than 10,000 Electricity Customers in New Hampshire

Resident Power announced today that it is serving more 10,000 electric customers in New Hampshire, less than a year after its November 2011 launch of mass market service.

"The response has been fantastic," said Bart Fromuth, Managing Director of Resident Power and Vice President of Business Operations for sister company Freedom Energy Logistics (FEL).

"Basically, we take large groups of small household and business accounts and pool them together for pricing with our supply partners. Our partners love it because, to them, it is as if they are pricing one large account and they get to avoid the hassles and costs of customer acquisition. Our customers love it because they get low group pricing they can't find anywhere else," said Fromuth.

"Most of our contracts run for one year; however, we do offer alternatives for those customers that cannot commit to 12 months. Apartments and leaseholders, for instance, find it difficult to fulfill a 12 month contract, so we offer them more flexible month to month arrangements," said Fromuth.

Freedom Energy Logistics was also recently named one of Business NH Magazine's Top 10 companies To Watch.

Freedom Energy Logistics said that its recent earnings have been spurred by a number of factors, "including a large spike in the retail brokerage business for natural gas and electricity, as well as solid growth in the wholesale procurement division."

"We have really started to make a name for ourselves throughout New Hampshire and greater New England. In only a few short years we have grown from a small company specializing in Direct to Grid wholesale procurement for end users, to a major player in the Northeastern energy markets, serving customers ranging from large retail suppliers to small manufacturers with a wide range of products and services," said August "Gus" Fromuth, Managing Director of Freedom Energy Logistics.