New Start-Up Retail Supplier Formed

A new retail supplier, Power Up Energy, LLC, has been formed.

Power Up Energy, LLC has already been licensed as a retail electric supplier by the New Jersey BPU, and has applied for FERC market-based rate authority

In its FERC MBR application, Power Up Energy stated that it, "is an energy service company that plans to make retail sales of electricity and natural gas to residential and commercial end-users in states that allow retail choice."

According to the FERC MBR application, Joseph Pane owns or controls in excess of ten percent of the voting securities of the Applicant. Mr. Pane serves as an officer and member of Power Up Energy, LLC. "Except for the interests in the Applicant, Mr. Pane does not serve as an officer or director or have any interest in an entity that owns or controls any electric generation, transmission or distribution facilities, or interstate or intrastate natural gas storage, transportation or distribution facilities. Except for the interests in the Applicant, Mr. Pane does not own or control any electric generation, transmission or distribution facilities, or interstate or intrastate natural gas storage, transportation or distribution facilities, and is not affiliated with any entity that owns or controls such facilities or other barriers to entry," Power Up Energy, LLC said in the FERC application

Other than Joseph Pane, no other person owns 10 percent or more of Power Up Energy, LLC and no other person currently holds an officer or director position at Power Up Energy, LLC, the company said in the FERC application.