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GDF Suez to Procure Guttman Energy Retail Customer Portfolios

January 13, 2016 By Cheryl Kaften

Houston-based GDF Suez Energy Resources N.A. – which claims to be the third-largest non-residential retail electricity provider in the United States – has entered into an agreement to acquire Guttman Energy’s portfolio of retail power customers. The deal, announced on January 8, is a part of GDF Suez’s growth strategy in North America.

 

Bridgeville, Pennsylvania-based Guttman Energy, which has a presence in 16 states east of the Mississippi, provides retail natural gas and electricity to commercial and industrial customers in Ohio and Pennsylvania.

 

GDF Suez already serves over 61,000 accounts in 12 markets: Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Texas, as well as the District of Columbia. With this acquisition, the company – scheduled to rebrand this year under the name ENGIE – will achieve a fivefold increase in the number of customers it serves in Ohio and Pennsylvania.

 

“GDF SUEZ Energy Resources has been in business since 2002 and, since opening our doors, we have taken great pride in building our business 100 percent organically,” said the company’s Vice President of Sales Graham Leith. “Now – as one of the largest commercial and industrial electricity suppliers in the nation – we are shifting our focus to bring our customer service, risk management capabilities, and products and services to a broader range of customers.”

 

For Guttman Energy, the deal is part of a major reorganization. “Through the efforts of a very dedicated and talented team, we’ve enjoyed much success in the sale of retail electricity,” commented company President Mike Senff. “However, we’ve decided to redeploy capital into assets that are more closely related to our core operations, which continues to include natural gas marketing. We’re confident that GDF Suez Energy Resources can continue to deliver on the commitments we’ve made to both customers and the broker community. We look forward to working closely together on a smooth transition for our power customers.”

 

“GDF Suez Energy Resources will honor each and every customer and broker contract that Guttman Energy has in place,” added Leith. “[The two companies] will work closely together to ensure the transition is as seamless as possible.”

 

The transaction is expected to close by the end of February.

. – which claims to be the third-largest non-residential retail electricity provider in the United States – has entered into an agreement to acquire Guttman Energy’s portfolio of retail power customers. The deal, announced on January 8, is a part of GDF Suez’s growth strategy in North America.

 

Bridgeville, Pennsylvania-based Guttman Energy, which has a presence in 16 states east of the Mississippi, provides retail natural gas and electricity to commercial and industrial customers in Ohio and Pennsylvania.

 

GDF Suez already serves over 61,000 accounts in 12 markets: Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Texas, as well as the District of Columbia.

With this acquisition, the company – scheduled to rebrand this year under the name ENGIE – will achieve a fivefold increase in the number of customers it serves in Ohio and Pennsylvania.

 

“GDF SUEZ Energy Resources has been in business since 2002 and, since opening our doors, we have taken great pride in building our business 100 percent organically,” said the company’s Vice President of Sales Graham Leith. “Now – as one of the largest commercial and industrial electricity suppliers in the nation – we are shifting our focus to bring our customer service, risk management capabilities, and products and services to a broader range of customers.”

 

For Guttman Energy, the deal is part of a major reorganization. “Through the efforts of a very dedicated and talented team, we’ve enjoyed much success in the sale of retail electricity,” commented company President Mike Senff. “However, we’ve decided to redeploy capital into assets that are more closely related to our core operations, which continues to include natural gas marketing. We’re confident that GDF Suez Energy Resources can continue to deliver on the commitments we’ve made to both customers and the broker community. We look forward to working closely together on a smooth transition for our power customers.”

 

“GDF Suez Energy Resources will honor each and every customer and broker contract that Guttman Energy has in place,” added Leith. “[The two companies] will work closely together to ensure the transition is as seamless as possible.”

 

The transaction is expected to close by the end of February.

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