True Electric Using Milagro Power Brand

May 17, 2011
Email This Story

True Electric LLC is retailing power under the trade name Milagro Electric, indicating it was likely the purchaser of at least some (if not all) of the Milagro book.

True Electric filed at the PUCT for an updated REP certificate to add the trade names Milagro Power and Milagro Electric. True Electric did not discuss any customer acquisitions from Milagro in the filing.

However, on its website, True Electric is offering a variety of products under the brand Milagro Electric (with the Milagro Electric logo on the Electricity Facts Label, with the True Electric name and the True Electric REP certificate number also listed).

True Electric is an affiliate of oil and gas exploration company New Century Exploration.

In April, customers of Milagro, which had been facing certificate revocation, were transferred to two other certificated retail electric providers, who were not disclosed at that time (see 4/6 for details). The disposition of the Milagro REP certificate was then to be addressed separately.

It should be noted that both True Electric and Mission Power (organized as 10K Energy LLC) list their address as 17350 State Hwy 249, Ste. 310, Houston on their websites, and, aside from the Milagro-branded products at True Electric, both offer identical pricing and terms. Public filings at both the PUCT and Secretary of State do not provide any insight into any potential shared ownership or investors at the two REPs; however, the two REPs seem closely aligned and would fit the nature of the Milagro transaction in which the book was carved up by two REPs.

To date, there has not yet been a filing at the PUCT to update or transfer the Milagro REP certificate as originally contemplated to be filed by April 14, and True Electric's filing yesterday was limited only to adding the Milagro trade name to its own existing REP certificate.

Milagro had been serving 3,200 customers before selling the book. Revocation of the Milagro certificate was pending after the Commission found Milagro did not meet both technical and financial certification requirements, in part due to an agreed disciplinary order by the Securities and Exchange Commission against Milagro principal William Wydler (see 2/9 for more details).

Email This Story

HOME

Copyright 2010-11 Energy Choice Matters.  If you wish to share this story, please email or post the website link; unauthorized copying, retransmission, or republication prohibited.

 

Be Seen By Energy Professionals in Retail and Wholesale Marketing

Run Ads with Energy Choice Matters

Call Paul Ring

954-205-1738

 

 

 

 

 

Energy Choice
                            

Matters