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Recent Entrant Texas REP, Affiliate Of Mexican Energy Marketer, Staffing Up Business Development & Expanding Use Of Channel Partners, Seeks Authority To Collect Customers Deposits
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Texas retail electric provider Ammper Power, LLC recently made several hires for its business development team, is expanding its channel partner strategy, and has now sought authority to collect deposits from customers
Specifically, Ammper Power, LLC filed for an amendment to its Option 1 Texas retail electric provider certificate in order to receive authorization to collect customer deposits
In a narrative description of the REP certificate amendment, Ammper Power said that it sought the amendment in order to, "be allowed to obtain customer deposits."
However, Ammper Power in the amendment filing selected the option for authority to collect "customer deposits AND prepayments." [emphasis in original certification form]
The REP certification form does include an option for authority to collect only customer deposits, and this option was not selected by Ammper Power
As exclusively first reported by EnergyChoiceMatters.com, Ammper is a Mexican diversified energy provider and marketer that entered the Texas market in 2022
In its initial marketing in Texas, Ammper had served larger C&I customers, with its website now stating it serves, "industrial and commercial" customers
While application for authority to collect deposits (or prepayments) is not dispositive of any future market plans (especially in this economy), the application for deposit collection authority is notable because many REPs exclusively focused on serving large C&I customers do not seek authority to collect deposits
In contrast, speaking generally of the Texas retail market, deposit authority (and actually charging deposits once authority is granted) is more typical in (though certainly not exclusive to) the small C&I and/or mass and residential markets.
On the other hand, authority to collect deposits does impose certain higher regulatory requirements on REPs (such as a required letter of credit or segregated cash account or escrow account) which may take time and expense to obtain. It is not unusual for a REP, eager to get its initial certification, to initially not seek to collect customer deposits, and to instead establish a base of business without deposit authority, and then seek deposit collection authority at a later date
To be clear, whether Ammper is now seeking deposit collection authority as part of a market segment expansion is not known at this time
Ammper earlier this year had posted a job posting for a business development manager whose responsibilities included, among other things, development and implementation of a comprehensive channel sales strategy and creating relationships with new channel partners, including brokers and agents, which again could indicate, but not necessarily indicate, expansion to a market segment where such relationships are more important
Melanie Villarreal, a veteran of retail energy channel sales, recently joined Ammper as a business development manager. Villarreal, with over a decade of retail energy experience, previously served as Channel Sales Manager at Mantis Innovation, and has held indirect or commercial sales positions at several retail suppliers
Gino Mendoza, with nearly 20 years of retail energy experience, also recently joined Ammper as a business development manager. Mendoza previously served as Director of Business Development at an energy procurement consultant, and spent a decade at Spark Energy and affiliates in business development
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August 20, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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