FERC Approves Sale of Retail Energy Supplier to Twin Cities Power

FERC recently approved Twin Cities Power Holdings, LLC's application to acquire all of 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 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 had been owned by Gregg Ruth (82%), Peter McCawley (12%), and Lynn Accorda (6%).