Blue Pilot Energy Announces Purchase and Acquisition Strategy
(PRWEB) February 07, 2014 -- “It is our goal to execute quick closings and transactions,” said Blue Pilot Energy President Greg Rosebeck, who noted that the severe winter weather has forced some energy providers to suspend service and default their customers to the customers’ incumbent electric utility.
Thousands of energy customers in multiple states have been affected by the service defaults. “A number of retail energy power companies have ceased operations and left their customers out in the cold. We will act quickly to prevent default and a total loss.” Blue Pilot energy may provide immediate access to capital and credit facilities to stave off additional collateral requirements and ultimate default.
Rosebeck said energy costs rose so rapidly and unexpectedly that some energy supply companies are having difficulty paying their ISO bills and meeting their additional collateral requirements.
The company said the acquisition strategy is partially in response to this winter's unusual polar vortex and other weather anomalies that have sent temperatures plunging while causing huge spikes in wholesale energy costs.
Blue Pilot Energy currently is negotiating purchase sale agreements and has originated several Letters of Intent. Blue Pilot Energy is a utilities industry pioneer, with over 20 years of experience delivering simple savings solutions in complex deregulated markets.
Blue Pilot has regulatory authority to supply electricity to business and residential customers in Pennsylvania, Connecticut, Maryland, New York, and New Jersey. The company is also authorized to supply natural gas to business and residential customers in Maryland. ~END
About Blue Pilot Energy, LLC:
Blue Pilot Energy, LLC (Blue Pilot) is an EGS/EDC competitive energy provider deregulated utility markets and has been granted regulatory authority to supply electricity to business and residential customers in the states of Connecticut, Maryland, New Jersey, New York, Ohio and Pennsylvania. Blue Pilot has been approved for market-based rate authority by the Federal Energy Regulatory Commission (FERC). Blue Pilot is a Participant in the New England Power Pool ("NEPOOL"). Blue Pilot is also a member of PJM Interconnection LLC.
Greg Rosebeck, Blue Pilot Energy, http://www.bluepilotenergy.com, +1 800-451-6956, [email protected]
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