May 14, 2018
Centrica Reports Update On U.S. Customer Count, Margin Climate
Centrica said in a trading statement released today, in advance of an annual general meeting, that, "Overall financial performance has been good in the year to date."
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May 11, 2018
Calpine Reports Lower Retail Commodity Margin (Begins Breaking Out Retail Results As Separate Segment)
Calpine has begun reporting its Retail business as a separate segment in financial results, and its Retail segment reported lower energy margins during the first quarter.
May 11, 2018
Spark Energy To Pull Back From "Low Margin" Larger C&I Business
As a result of the negative financial impact that extreme cold weather during the first quarter of 2018 had on the business (see story here) , Spark Energy said during an earnings call that it will pull back from the low margin larger C&I business, particularly in the Northeast and New England
May 10, 2018
Spark Energy Reports Lower Adjusted EBITDA On Extreme Cold, Higher Wholesale Prices
For the quarter ended March 31, 2018, Spark Energy, Inc. reported Adjusted EBITDA of $15.9 million compared to Adjusted EBITDA of $34.4 million for the quarter ended March 31, 2017.
May 7, 2018
Retail Supplier Enters New Supply, Credit Agreement
On May 1, 2018, Summer Energy Holdings, Inc. ("SEH"), and its subsidiaries Summer Energy, LLC ("Summer LLC") and Summer Energy Northeast, LLC ("Summer Northeast"; together with SEH and Summer LLC, the "Company") closed a transaction with EDF Energy Services, LLC and EDF Trading North America, LLC…
May 7, 2018
Sale Price Revealed For Sale Of Retail Supplier
In a 10-Q, New Jersey Resources Corporation (NJR) disclosed the sale price for its disposition of NJR Retail Services Company, which as exclusively reported by EnergyChoiceMatters.com, was sold to Direct Energy Business Marketing, LLC
May 4, 2018
Vistra (TXU Parent) To Grow Retail Business Through Dual Strategy Of M&A, Organic Growth
Vistra Energy, which as previously reported will engage in a strategy of expanding its retail business now that it has completed its acquisition of Dynegy, said during an earnings call this morning that it will pursue a "dual strategy" of organic retail growth and evaluating retail M&A opportunities…
May 3, 2018
NRG Reports Higher Retail Earnings
NRG Energy reported that its Retail segment recorded Adjusted EBITDA of $188 million for the first quarter of 2018, $55 million higher than first quarter 2017, due to lower operating costs and higher gross margin with increased customer count, higher customer usage and favorable weather in 2018
May 3, 2018
Return Of Low Income Customers To New York Default Service Cited In Decrease In Genie Retail Energy Customer Count
In reporting earnings this morning, Genie Energy said that Genie Retail Energy's customer base declined versus December 31, 2017 due, in part, to the required return of low-income customers in New York to default service, as well as a strategic decision to pull back customer acquisition efforts in…
May 3, 2018
Exelon: "Always" Interested In Retail Acquisitions, Will Be "Aggressive" If Accretive Opportunities Arise
Responding to a question about an increase in retail M&A activity and books being shopped, Joseph Nigro CEO, Constellation and Executive Vice President, Exelon said during Exelon's first quarter earnings call that Exelon is "always" interested in retail acquisitions and will be "aggressive" if…
May 1, 2018
Holding Company To Sell Retail Supplier
ONEnergy Inc., the parent of retail supplier Sunwave Gas & Power, announced its intention to sell its retail Gas & Power business
April 30, 2018
Crius To Form Strategic Operating Committee To Evaluate And Recommend Opportunities To Enhance Unitholder Value
Crius Energy Trust (the "Trust", "Crius" or the "Company") and JCP Investment Management, LLC ("JCP") today announced that they have entered into a settlement agreement (the "Agreement"), pursuant to which one JCP nominee, Ali Hedayat, will be put forth by Crius for election to the board of…
April 19, 2018
Just Energy Group Announces Favorable Renegotiation Of Credit Facility
Just Energy Group Inc. announced that the company has renegotiated an agreement with a syndicate of lenders that includes Canadian Imperial Bank of Commerce (CIBC), National Bank of Canada (National), HSBC Bank Canada, JPMorgan Chase Bank N.A., ATB Financial and Canadian Western Bank.
April 17, 2018
Company Paying Residential Customers For Peak-Time Reductions Raises $8.5M In Funding, Says Will Use Capital To Expand To Texas, New York
OhmConnect, which currently pays California residential customers for electricity usage reductions in response to alerts, announced that it has raised $8.5M in a Series B funding round, led by Mike Maples of Floodgate, along with Jennifer Fonstad of Aspect Ventures, Josh Cohen of City Light Capital…
April 17, 2018
Parent Of Retail Supplier Seeks FERC Approval For Planned Equity Raises And Transfers Among Upstream Owners
Star Energy Partners, LLC (Star Energy or the Applicant) submitted an application at FERC requesting authorization for a series of completed and planned equity raises and transfers by and among Star Energy's upstream owners (collectively, the Transactions).
March 28, 2018
NRG To Acquire Xoom Energy
During an analyst day yesterday, NRG Energy announced that it would acquire XOOM Energy for $210 million, including working capital and $6 million in transaction costs
March 27, 2018
Investment Firm Seeks To Nominate Competing Slate Of Directors To Board Of Retail Supplier Holding Company
Investment Firm Claims Poor Capital Allocation, Cites Debt Of Retail Supplier Holding Company
JCP Investment Management, LLC, a significant unitholder of Crius Energy Trust, issued a letter to the unitholders of Crius in which JCP, "expressed its concerns regarding the Trust’s underperformance and the poor capital allocation decisions under the current leadership team and informed…
March 23, 2018
GenOn Energy Announces Agreement To Sell Two Generating Units, Provides Update On Its Ongoing Reorganization Efforts, Asset Sales
GenOn Energy, Inc. ('GenOn') announced today that on March 22, 2018, certain of its wholly owned subsidiaries entered into a Purchase and Sale Agreement ('Purchase Agreement') with Stonepeak Kestrel Holdings LLC ('Buyer'), a subsidiary of Stonepeak Infrastructure Partners ('Stonepeak'), pursuant to…
March 12, 2018
Spark Energy CEO Provides Outlook On New York Regulatory Process
During an earnings call, Spark Energy CEO Nathan Kroeker discussed, in response to an analyst question, the company's current view on retail market regulatory proceedings in New York
March 12, 2018
Spark CEO: Additional Acquisition Opportunities Expected As Small Retail Suppliers Seek Exit After Recent Volatility
Company Currently Working On Three International Investment Opportunities
During the company's earnings call last week, Spark Energy CEO Nathan Kroeker said that history suggests that the company will see acquisition opportunities from recent market volatility
March 9, 2018
Crius Discloses Acquisition Of U.S. Customer Book With 18,000 RCEs
Crius Also Invests In U.K. Retail Energy Business Reports Higher Earnings, Lower Customer Count
In reporting fourth quarter and full year 2017 earnings, Crius Energy Trust announced it, "purchased the customer contracts and associated assets of approximately 18,000 residential electric customers in Illinois, Ohio, New Jersey and Pennsylvania from a California-based energy retailer for $4.3…
March 8, 2018
Spark Announces Two Acquisitions, Adding 80,000 RCEs
Retains Financial Advisor To, "Explore Strategic Alternatives" Spark Announces Record Earnings
Note: This story was first published at 6:15 pm on March 8 with an alert to our email alert subscribers. Updated on March 9 With Financial Results
March 8, 2018
Genie Retail Energy Posts Record Quarterly Adjusted EBITDA
Genie Retail Energy reported quarterly Adjusted EBITDA of $12.8 million for the fourth quarter of 2017, up from $3.1 million a year ago, on strong consumption and robust electricity margins
March 1, 2018
NRG CEO Sees "Opportunities" For Retail Growth From Forecast Volatility
Records $1.2 Billion Impairment Related To South Texas Project Nuclear Plant, On Outlook For Future Commodity Prices
February 27, 2018
TXU Parent Cites Retail Acquisitions As Use For Capital, Looks For Retail Tuck-In Acquisitions, Organic Growth In Northeast
Vistra Reports Retail Customer Count, Change
In discussing earnings for the year 2017 (see story here on results) , Vistra Energy CEO Curt Morgan said that retail acquisitions remain a top potential use for capital after Vistra closes on the acquisition of Dynegy