EDF Energy Services to Acquire TransCanada’s Northeast Retail Power Book
EDF Energy Services, LLC (“EDF Energy Services”), a subsidiary of the EDF Group is pleased to announce the signing of a definitive agreement with TransCanada Power Marketing. Ltd. (“TCPM”), a subsidiary of TransCanada Corporation, for EDF Energy Services to acquire TCPM’s Northeast retail power book comprising of commercial customer contracts and other assets.
TCPM has been one of the leading U.S. Northeast energy solutions providers to large commercial and industrial customers for the last 16 years. TCPM announced earlier this year that it would exit this business to pursue other initiatives.
EDF Energy Services is part of the EDF Group, the world’s biggest electricity generator which continues to expand its footprint in the North American energy markets. This acquisition accelerates EDF Energy Services’ growth plan into the Northeast retail power markets and significantly increases its regional market share. EDF Energy Services will focus on preserving the long-standing commercial customer base that TCPM has built over the years as well as retaining key talent to ensure a smooth transition to EDF Energy Services.
“This is an important acquisition for us as it expands our customer footprint in the northeast and provides an additional vehicle for driving long-term, sustainable growth,” said Mary Anne Brelinsky, President of EDF Energy Services. “We look forward to welcoming TCPM’s customers to EDF Energy Services. Our team will ensure that these customers get the benefits of our digital integrated platform and products which provide innovative solutions in a quickly evolving energy marketplace,” she continued.
The transaction is expected to close in the first quarter of 2018, subject to customary closing conditions.
Financial details are not being disclosed.
For further information, please contact:
EDF Energy Services
Lindsey Greenwood, Director of Marketing and Communications
About EDF Energy Services
EDF Energy Services provides a wide range of energy products and services for commercial and industrial consumers, power generators and retail energy providers. Ranked one of the top retail suppliers in North America, it structures a blend of electricity, natural gas, environmental, hedging and risk management products across all deregulated markets to help companies meet their energy goals. Additionally, with its generation services group, it can provide on-site generation and demand response management. EDF Energy Services has a digital integrated platform which offers technology solutions to give customers a transparent look into their energy portfolio. Its customer portal, EDGi, offers asset monitoring, market prices, customer invoices, weather and news updates for desktop, mobile devices and the Apple Watch.
EDF Energy Services is part of the EDF Group, the world’s biggest electricity generator with over 40 million customers globally.
For more information, please visit www.edfenergyservices.com.