Retail Energy Vets Launching Start-Up Retail Supplier In New York Market, Focused On Allowing Commercial Property Owners To Access Wholesale Market Directly

Start-up Grid Power Direct, LLC submitted an application to the New York PSC to register as an ESCO

Grid Power Direct, LLC said in its application that it initially intends to exclusively offer electricity service to commercial customers in Con Edison’s service territory.

Grid Power Direct said that it will not be engaged in marketing to any residential customers.

Ezra Doueck serves as Managing Member of Grid Power Direct, LLC. Richard Rudy also serves as a principal of Grid Power Direct, according to the company's website

Grid Power Direct's website states, "The principals of GPD have been involved in the retail energy industry since 2005. Having managed over $1.7 billion in credit strategies and transactions and with over 20+ years in the private credit and investment transaction space, the principals have funded and managed over $600 million in direct loan transactions. They have also financed over $500 million in energy sales and currently have over $250 million in energy efficiency finance deals across North America. "

Grid Power Direct said in its application that it is an affiliate of Advanced Energy Capital, LLC

On its website, Grid Power Direct touts, "Unlocking An Untapped Revenue Stream For CRE Owners."

Grid Power Direct's website further states, "Today, Landlords make little to no money on electricity to their buildings. Yet the industry is full of utilities, retail energy providers, and brokers, who gain all the lucrative profits. We think that should change."

"Grid Power Direct, LLC partners with Commercial Real Estate Landlords, Developers, and Investors; allowing them direct access to the energy grid. For the first time, members are now able to gain entry to wholesale energy rates, effectively bypassing the complicated retail market. The result is a newly-uncovered and long-term residual revenue stream, one with zero upfront capital cost and virtually no work to be done on the member's end. GPD's seasoned team of professionals handle every part of the process to create a simple, easy, and profitable experience," Grid Power Direct's website states