Update On Retail Supplier's Recent Customer Book Acquisition

January 4, 2024

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Energo, f/k/a Marathon Power, has confirmed that its active electricity accounts began to be transferred to Constellation NewEnergy Inc. on or about January 1st, 2024

Previously, Constellation's acquisition of Energo's retail electric customers in certain states had been reported, but it had not been previously confirmed that all of Energo's electric accounts were being acquired specifically by Constellation

Furthermore, Energo has generally informed customers that, "As per its assignment rights in Energo’s contract with you, your account must be transferred," and that customers may not opt out of this assignment and change suppliers or go back to the utility

"Should customers violate their contractual obligations, customers will be penalized for an Early Termination Charge, which varies according to the length of term remaining on contract," Energo states in an FAQ concerning the transfer

There will be no change in the price, terms, or conditions of service for the remaining term of the customer's electricity contract as a result of the transfer

If the customer has an active natural gas contract with Energo, there will be no change. Energo will continue to serve as the customer's natural gas provider

Energo will continue to offer heating oil, natural gas, diesel, gasoline and propane. "Energo remains strongly committed to its natural gas, petroleum and mechanical business," the company said

Energo informed brokers that, "If you have an existing broker agreement with Constellation in place, there should be no lapse in payments however, please contact your representative at Constellation for questions pertaining to pending commissions on contracts transferring to them from Energo."

"If you do not have a broker agreement in place with Constellation, please contact them directly so that you can become enrolled with them, and they can continue your commissions for existing Energo contracts," Energo told brokers

Energo also told brokers that, "If you are aware a customer has a block on their account, please work to remove the block by January 2, 2024."

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