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OUR Energy Pursuing Measured Growth, Expansion Outside Texas in Future
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February 14, 2011
OUR Energy, LLC's acquisition of approximately 1,600 customers from Abacus Resources Energy is part of the retail electric provider's measured growth plans and continued expansion into residential service.
OUR Energy's acquisition of the customers was first reported in Matters Friday (2/11).
The acquired customers are located entirely within the AEP service areas, which reflected a strategic decision on the part of OUR Energy. The balance of the Abacus customer book, after OUR Energy acquired the customers in the AEP territory, were acquired by Spark Energy.
OUR Energy confirmed that the acquired customers will receive their originally contracted rate and will have the option to switch to any other OUR Energy product.
"Our Energy is very excited about this transition and looking forward to serving these customers in the area we are already very active in. Our goal is to provide our customers with simple and honest pricing for electricity, easy to read monthly bills and friendly customer service." said Tanweer Ahmed, CEO of OUR Energy.
OUR Energy, when commencing operations in 2009 after new ownership (see 6/26/09, 5/20/09), initially focused on the commercial market. Since that time, it has begun to offer residential service, and has also acquired residential customers in inorganic transactions prior to the Abacus deal.
OUR Energy intends to expand to Illinois and New York in the near future as part of its measured growth.
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