HomeMarch 25, 2016
Retail Supplier: We're Shifting Focus To Other Markets Given New York Order
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Spark Energy CEO Nathan Kroeker said during an earnings call yesterday that the company is shifting its focus to markets other than New York given the New York PSC's recent "reset" order.
In response to an analyst question about the New York order, Kroeker said, "because of our geographic footprint, we're shifting some of our focus to other markets even now in anticipation of these rule changes, and I think long-term we just shift our growth to the markets that are most attractive to us."
Kroeker also said that, provided that a court grants an injunction against PSC enforcement of the order at an April hearing, Kroeker expects that the process of working collaboratively with the PSC to address concerns and keep bad actors out of the market will take up most of 2016.
Kroeker does not believe that the New York order will have a significant impact on Spark's adjusted EBITDA numbers for 2016.
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