HomeApril 1, 2015
Sunwave Gas & Power Begins Offering Energy Efficiency Services to U.S. Commodity Customers; Parent Reports Earnings
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During the first quarter of 2015, ONEnergy's energy efficiency business began actively marketing services in Connecticut, to existing commercial commodity supply customers of affiliated retail supplier Sunwave Gas & Power, as well as to new customer opportunities, ONEnergy disclosed in reporting 2014 financial results.
ONEnergy generated revenue of $9.3 million in 2014 (all $ Canadian), with U.S. operations contributing approximately 40% of 2014 revenue ($3.6 million). ONEnergy's Home Comfort HVAC business accounted for the balance of revenues, with ONEnergy's energy efficiency business beginning to contribute to revenues in Q4 2014.
Operating expenses for 2014, including customer acquisition costs of $2.5 million, were $10.9 million.
ONEnergy reported a net loss for 2014 of $10.0 million.
An apples-to-apples comparison of 2014 results to prior periods are not available due to a change-of-business transaction in 2013.
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