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TruSmart Energy Holdings Agrees to Acquire dPi Energy
October 3, 2011
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TruSmart Energy Holdings, LLC has entered into an agreement to purchase dPi Energy, LLC.
The sale is subject to approval by the Public Utility Commission of Texas.
The sale was required under a prior Public Utility Commission of Texas order which allows dPi Energy to retain its REP certificate provided that ownership was sold due to the current ownership's prior involvement in a REP that experienced a mass transition (see 9/2).
Terms of the sale were filed under seal in Docket 37917. As of June, dPi had approximately 25,000 customers.
According to Texas Secretary of State records, TruSmart Energy Holdings, LLC was formed in January 2011. The listed Managing Member is Dennis Benevides, former Vice President of U.S. Power for Direct Energy.
Additional public information indicates that Anoush Farhangi is also a principal at TruSmart Energy Holdings. Farhangi is SME at SunGard Consulting Services and was formerly Vice President of Risk Management at BlueStar Energy Services, with former positions in risk management, analysis, forecasting, and operations at Wal-Mart, Texas Retail Energy, and Direct Energy.
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