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Twin Eagle Resource Management Seeks Pa. License, to Start Offering Service in Texas for October Delivery
August 18, 2011
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Twin Eagle Resource Management, LLC has received a Texas REP certificate and will quickly begin active marketing, while a subsidiary has applied for a Pennsylvania electric supplier license.
In Pennsylvania, Twin Eagle subsidiary TERM Power & Gas, LLC, d/b/a TERM Energy, is seeking an electric supplier license to serve all customer classes, including residential customers, in all service areas.
As only reported in Matters (7/19), TERM Power & Gas, LLC is also seeking an electric supplier license in Illinois.
In Texas, Twin Eagle Resource Management received a REP certificate after the Commission approved, without modification, an agreed proposed order between the company and Staff (39392).
The agreed proposed order was first reported by Matters, and requires Twin Eagle CFO Robert Doty to not serve as officer, director, or principal of the Twin Eagle Texas REP, which will be accomplished by creating a new subsidiary REP, due to a prior settlement between Doty and the SEC. Additional details can be found in our 8/12 story
In Texas, Twin Eagle will market retail electric service as TERM Power, TERM Energy, and TERM Power & Gas. Twin Eagle will pursue residential and commercial & industrial sales at the retail level in Texas.
Twin Eagle is participating in ERCOT Retail Market Qualification Test Flight 0611, and is scheduled to complete testing on September 8, 2011.
Twin Eagle said that it planned to begin offering products to Texas customers for October delivery as soon as possible after PUCT approval of its certificate was granted.
As previously reported, many of the Twin Eagle principals previously led Champion Energy and Eagle Energy Partners, and before that, Dynegy (see 5/11).
Aside from the new retail marketing business, Twin Eagle Resource Management is active in ERCOT and several FERC-jurisdictional organized wholesale power markets, in optimization and trading, transmission rights management, and operations and risk management. Twin Eagle manages more than 2,000 MW in ERCOT on behalf of its clients, and also offers a variety of marketing and optimization services in the wholesale natural gas market.
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