Co-Creator of GDF Suez Retail Supply Business Launching New Retail Supplier

One of the creators of GDF Suez Resources is among the management of a start-up retail supplier, Switch Energy, LLC.

The Public Utilities Commission of Ohio has granted start-up Switch Energy, LLC an electric supplier license to serve all customer classes in all service areas.

Switch Energy, LLC said that it intends to provide power energy services to real estate developers, commercial building owners, associations, and apartment communities via direct face-to-face marketing of its services.

The President of Switch Energy, LLC is Glenn Payne, who is a co-founder and indirect owner of the company. Payne previously held positions at GDF Suez North America where he co-created the retail electric business, GDF Suez Resources.

Payne was previously the CEO of a UK-listed private equity company, LMS Capital plc, and has over 18 years' experience in the energy industry. Prior to LMS, Payne was a senior investment professional at First Reserve Corporation, a large energy-focused private equity firm, with responsibility for investing in power companies.

Rupesh Shah serves as executive vice president of Switch Energy, LLC. Shah was previously Head of Structuring (North America) for Noble Americas where he helped build out the North American Power and Gas business, and previously held business development, risk management, and credit capacity positions at Sempra Energy Trading

Mike DeAscentis is an indirect owner of Switch Energy, LLC. DeAscentis was one of the founders of Nationwide Energy Partners, LLC, which provides comprehensive services to commercial building owners and owner associations relative to the design, installation and management of private utility distribution, metering, and billing systems. DeAscentis previously founded Lifestyle Communities, which has developed over 10,000 housing units since its inception and has vertically expanded business operations by providing services complementary to its housing business, including financing, property management, real estate services and construction services.