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 environmental commodities to Sunwave in multiple North American natural gas and power retail markets.

The commodity supply agreements allow for Shell Energy to provide Sunwave with wholesale electricity, natural gas, carbon offsets, and renewable energy credits in Canada and five U.S. states, namely Connecticut, New York, Pennsylvania, Illinois and Massachusetts.

With support from the new Shell supply and credit agreements, Sunwave President Robert Weir said, "We are excited to launch and grow our US business."

Sunwave's expansion from Canada into the U.S. retail energy markets had first been reported by EnergyChoiceMatters.com in September.

Sunwave's agreements with Shell can be further expanded to cover additional states as Sunwave moves into additional deregulated markets for natural gas and electricity.

Under the credit facility agreements Shell Energy will be providing Sunwave with credit to help support growth in its targeted Canadian and U.S. markets. As previously reported, Sunwave is currently submitting license applications and building infrastructure to implement operations in several markets.