IGS Energy Acquires Retailer DPL Energy
Dublin, Ohio-based retailer IGS Energy announced on January 6 that it had acquired DPL Energy Resources, a retail affiliate supplier of the utility Dayton Power & Light (DP&L). The deal closed on January 1.
Founded in 1989, IGS already serves as an independent retail supplier to more than 1 million residential, commercial and industrial customers in California, Illinois, Indiana, Kentucky, Maryland, Michigan, New York, Pennsylvania, and Texas.
DP&L is a local Dayton utility that serves over 515,000 customers. Its parent company, DPL, has decided to exit retail energy supply in this market, to focus on its core business – electricity generation, transmission, and distribution.
“We have a very strong, positive brand reputation in the industry, which is extremely important to us,” stated IGS CEO Scott White, adding, “DPL Energy Resources also has a very solid brand presence – which was a key consideration in our decision to acquire the company and grow our customer base.”
“Identifying a buyer with a similar business philosophy was important,” said DP&L CEO Tom Raga. “IGS Energy shares the DP&L philosophy of offering superior, customer-focused service.”
This is not the first acquisition for IGS. Last year, IGS acquired Border Energy, a retail supplier of natural gas and electricity. In 2010, the company acquired Accent Energy, an electric retail supplier.
With the acquisition of DPL Energy Resources, IGS Energy said the company continues to increase its customer base in existing markets and enhance its scale to service residential, commercial, and industrial customers across the Midwest. The company boasts a 96 percent commercial and industrial customer retention rate, which it attributes to its own superior expertise and service.
IGS Energy received the highest numerical score among six residential electric service providers in Ohio in the proprietary J.D. Power 2015 Retail Electric Provider Residential Customer Satisfaction Study – based on responses from 21,744 consumers who recently switched electric service providers. Proprietary study results are based on experiences and perceptions of consumers surveyed between August 2014 and June 2015.
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