Former Channel Partner Director Launching Electronic Energy Supply Auction Platform

U.S. Power Trade, LLC, which intends to run an electronic auction platform for energy supply procurement, is in the process of establishing operations in several states.

Specifically, U.S. Power Trade, LLC is seeking licenses, or setting up operations for those states which do not require broker licenses, in Ohio, Pennsylvania, New Jersey, Massachusetts, Maine, Maryland, New York, Connecticut, and Rhode Island.

In Ohio, U.S. Power Trade applied for an electric broker license to serve commercial customers in all service areas.

U.S. Power Trade is led by CEO Robert Rizzitano. Rizzitano was previously Channel Partner Director at Coastal Energy and a business development manager at Glacial Energy

According to its Ohio application, "U.S. Power Trade LLC plans to launch an electronic platform where business entities can host an electronic, reverse auction for their third-party electricity contracts."

"The platform is similar to Ebay, where a client can put in a reserve price (the maximum they are willing to pay), and the suppliers can bid at that number or below," the company said.