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DPL Energy Resources Acquires MC Squared Energy Services
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March 3, 2011
DPL Energy Resources has purchased MC Squared Energy Services, LLC, which will provide MC Squared Energy Services with a platform to expand from its current market of Commonwealth Edison.
MC Squared Energy Services, LLC serves approximately 2,000 non-residential accounts in the ComEd territory, focusing in particular on customers under 400 kW, with annual usage in excess of 15,000 kWh.
Although DPL Energy Resources received in early 2010 electric supplier licenses in several states outside of Ohio (Pennsylvania, Illinois, Michigan, see 12/30/09), it has thus far limited its marketing to business customers in Ohio.
The transaction will provide MC Squared Energy Services with capital and other resources to expand into additional markets in PJM and the Midwest ISO, particularly Ameren, said Chuck Sutton, president of MC Squared Energy Services. Sutton will continue to lead MC Squared Energy Services, which will continue as a separate brand. Precise plans for integrating backoffice functions of the two suppliers have not yet been finalized, Sutton said.
Sutton said that MC Squared Energy Services is interested in expanding to all of the active PJM retail markets. DPL's large balance sheet will provide greater access to capital and take MC Squared Energy Services to another level, Sutton told Matters. In particular, DPL's balance sheet will reduce collateral costs, which in turn will allow lower retail pricing.
Sutton also said that MC Squared Energy Services is examining serving smaller commercial customers (in Illinois, those under 15,000 kWh) as well as residential customers, but has not yet made a decision on the residential market.
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