March 27, 2014
Crius Energy Sees Slower Customer Growth
Crius Energy reported net growth of 5,000 customers from September 30, 2013 to December 31, 2013, it disclosed in reporting earnings.
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March 27, 2014
Retail Supplier Expects More Market Exits, Says Seller Expectations Have Dropped
"We expect industry-wide increased customer attrition, new regulations, higher collateral costs, and financial performance to drive many retail suppliers to look for market exits through equity sales and customer book divestments," Crius Energy CEO Michael Fallquist said during an earnings call…
March 19, 2014
Twin Eagle Announces $200 Million Investment from Five Point, GSO, and Management
Five Point Capital Partners LLC and affiliates of GSO Capital Partners LP officially announced the acquisition of a 50% interest in Twin Eagle Resource Management, LLC from Chesapeake Energy Corporation and LS Power Group.
March 18, 2014
Retail Supplier Cites "Failure" of Wholesale Markets "To Meet Demand At Reasonable Prices", Warns on Customer Churn
"The failure of the wholesale markets to meet demand at reasonable prices," required IDT Energy to raise its rates significantly to cover these costs, as the company expects to record increased churn during the first quarter, it said in reporting full-year 2013 earnings
March 4, 2014
Dynegy Talks Market Share, Margins for New Retail Business
Dynegy's Homefield Energy retail energy business has a 30% market share in the Ameren Illinois electric territory, executives reported during an earnings call last week.
March 3, 2014
Retail Supplier Officially Announces Investment to Support Expansion
Star Energy Partners LLC officially announced that it has received an investment that will allow the expansion of its operational footprint to residents and businesses in the AEP Ohio and FirstEnergy Ohio service territories.
March 3, 2014
Integrys Energy Services Discusses Impact from January Weather, Parent Affirms Retail Strategy
Integrys Energy Services performed as expected during the extreme cold in January, with negative impacts from load following electric contracts offset on the natural gas side, executives said during an earnings call last week.
March 3, 2014
NRG Talks Retail Margins, M&A in Discussing Earnings
NRG Energy saw relatively stable overall retail portfolio unit margins for the year 2013, executives said in discussing earnings on Friday.
February 28, 2014
Flash: NRG Reports Customer Growth
NRG experienced continued customer growth in 2013, it said in reporting earnings today.
February 28, 2014
Retail Supplier Announces Supply Arrangement With Shell Energy, Sets Timeline for New England Entry
Champion Energy Marketing LLC, the parent of Champion Energy Services, LLC, announced that it has entered into a five year agreement with Shell Energy North America (US) L.P. (Shell Energy) for a structured supply arrangement and credit facility, effective February 21, 2014.
February 26, 2014
Given Volatility, FirstEnergy CEO Questions Whether, Retail Market Will, "Exist[] In The Same Format That We See It Today"
FirstEnergy Corp. CEO Anthony Alexander told investors during yesterday's earnings call that given the volatility that has been introduced into the retail market, there's a question of, "whether or not a retail market for customers exists in the same format that we see it today."
February 25, 2014
ConEdison Solutions Reports Customer Growth
ConEdison Solutions recorded customer growth during 2013, parent Consolidated Edison, Inc. reported in its annual 10-K.
February 21, 2014
Centrica Says It's Less Inclined to Pursue Retail Energy M&A in Certain U.S. Regions
Centrica, in discussing earnings yesterday, has revealed which regions it finds most attractive for mergers and acquisitions for its North American business, Direct Energy
February 20, 2014
Direct Energy Profits Down on Margin Pressure, Launches $100M Cost Reduction Initiative, Warns on Impact from Extreme Weather
Direct Energy operating profit fell 11% for the year 2013 to $436 million, as increases in profitability in the residential energy supply and residential services segments were offset by compressed margins for Direct's commercial and industrial energy supply business.
February 18, 2014
Duke Energy to Exit Merchant Generation Business
Duke Energy announced that it has initiated a strategic process to exit its Midwest commercial generation business, which includes ownership interests in 13 power plants.
February 17, 2014
Retail Supplier: Impact from Price Spikes, Cold Weather Not Material
Extreme cold and volatile wholesale prices have not had a material impact on Just Energy's earnings, the company said on a Friday earnings call.
February 14, 2014
FLASH: Just Energy Sees Return to Net Customer Growth in Mass Market Accounts
Just Energy saw net growth of 17,000 mass market energy supply residential customer equivalents (RCEs) from September 30, 2013 to December 31, 2013, reversing a net loss recorded from June 30, 2013 to September 30, 2013.
February 11, 2014
Parent of Retail Supplier Cuts Distribution by 30% Due to Extreme Weather, Pricing
Crius Energy Trust announced a February 2014 distribution of $0.0583 per unit, a 30% reduction from that paid in previous months.
February 11, 2014
Parent of Retail Supplier More Than Doubles Working Capital Facility
Crius Energy Trust announced that it has expanded its working capital facility with Macquarie Energy LLC from $25 million to $60 million, with the base interest rate remaining unchanged at LIBOR plus 5.5%.
February 11, 2014
Retail Supplier Sees M&A, Margin Opportunities Resulting from Challenging Market Conditions
In an investor call concerning its distribution cut and announcement of expanded working capital facility, Crius Energy CEO Michael Fallquist said that he sees three key opportunities arising from today's challenging market conditions
February 10, 2014
Exelon Brags About Matched Load Strategy Insulating It From Polar Vortex Retail Hit, With Power Plants Subsidized by Competitors Who Defaulted
Exelon's strategy to match load to generation, "really has played out well" during the extreme January weather, executives said during a Thursday earnings call, in a perfect example of how capacity markets provide asset-owning retail suppliers with an unfair competitive advantage.
February 7, 2014
PPL Says Not Focused on Competitive Retail Business, Sees Retail Business as "Modest"
PPL is not "focused" on growing its competitive retail electric supply business, executives said in discussing earnings yesterday.
February 7, 2014
Retail Supplier Sees Growth Opportunity from Volatility-Driven "Shake-Out" in Industry
WGL Holdings is optimistic that its retail energy supply business can benefit from a likely "shake-out" in the retail energy industry prompted by recent volatility.
February 6, 2014
Retail Supplier Says Earnings "Pressure[d]" by PJM Volatility
"[V]olatile electricity costs in the PJM market continue to pressure the earnings of our retail energy-marketing business," WGL Holdings said in reporting earnings for the quarter ending December 31, 2013 (first fiscal quarter).
February 3, 2014
Dominion on Exit from Retail Electric Marketing Biz: "Doesn't Fit Our Business Model", Notes Lack of Assets to Match Book
Dominion ultimately decided to exit the competitive electric retail market because, "[i]t just doesn’t fit our business model," Tom Farrell, Dominion CEO, said on an earnings call Friday.