Twin Cities Power Holdings, Parent of Town Square Energy, to Acquire Retail Supplier

Twin Cities Power Holdings, LLC recently entered into a membership interest purchase agreement to acquire all the membership interests in retail energy supplier Discount Energy Group, LLC.

Twin Cities Power Holdings, LLC is the corporate parent of retail supplier Town Square Energy, LLC.

As part of the transaction, Twin Cities Power Holdings has formed a wholly-owned subsidiary, Retail Energy Holdings, LLC, to acquire the Discount Energy Group, LLC membership interests and will transfer 100 percent of the membership interests in Town Square Energy, LLC to Retail Energy Holdings, LLC concurrently with the acquisition of the Discount Energy Group, LLC interests.

Discount Energy Group, LLC is active in New Jersey (JCP&L, PSE&G, and ACE), Pennsylvania (PECO & Duquesne Light), and Ohio (Duke).

Discount Energy Group, LLC is owned by Gregg Ruth (82%), Peter McCawley (12%), and Lynn Accorda (6%).

The companies had sought FERC approval of the transaction by November 29, 2013, so that the parties can close on the transaction as soon thereafter as practicable. The FERC application remains pending.

Docket EC14-18