Verde Energy Acquires Book of Texas Customers

Verde Energy has acquired part of the TruSmart Energy customer book in Texas, a broker averred in a filing with the Public Utility Commission of Texas

EnergyChoiceMatters.com exclusively reported last month that Now Power had acquired TruSmart's prepay and weekly/biweekly product customer contract portfolio (about 2,900 customers), but that such book did not represent the entirety of TruSmart's customer base. EnergyChoiceMatters.com also reported that a second REP acquired the balance of TruSmart's customer base prior to TruSmart's default at ERCOT, avoiding the need for a POLR mass transition

That second REP has now been identified as Verde Energy, which acquired post-pay customers from TruSmart

The identification of Verde Energy as the acquirer of the TruSmart post-pay customers was disclosed in an email from Current Utilities to the Public Utility Commission of Texas, which was made part of the record in the proceeding where Current Utilities is contesting allegations that its operations constitute aggregation and not brokering (click here for details on such proceeding)

In its email to the PUC, Current Utilities said that it had brokered customers for TruSmart and alleged that the transfer of such customers to Verde contravened its contract with TruSmart, though Current Utilities did not explicitly cite any specific provision governing assignment.

Verde Energy provided the following statement to EnergyChoiceMatters.com: "The post-pay TruSmart customers were acquired and transferred to Verde Energy Texas working in close cooperation with the PUCT and ERCOT to ensure none of the affected customers were sent to POLR. The transfer occurred in accordance with all PUCT regulations."