NextEra Acquires Another Retail Supplier
November 2NextEra Acquires Another Retail Supplier8, 2023
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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Fireside Natural Gas, LLC ('FireSide') reported that it will undergo a change in corporate ownership resulting from a Membership Interest Purchase Agreement (the 'Agreement') entered into among NextEra Energy Services Georgia, LLC ('NextEra Energy Services') as buyer and FireSide Holdings Inc. ('FireSide Holdings'), Michael J. Davis ('Davis') and Michael J. Davis Irrevocable Trust (the 'Trust') as sellers
On November 13, 2023, NextEra Energy Services entered into the Agreement referenced above, pursuant to which NextEra Energy Services will acquire all of the issued and outstanding membership interest of Fireside Natural Gas, LLC
In the Georgia natural gas market, FireSide serves solely commercial (non-residential) customers
"[T]he team behind FireSide will remain substantially unchanged as virtually all of the FireSide staff have agreed to be retained by NextEra Energy Services after the close of the sale outlined in the Agreement," FireSide and NextEra said
"Consistent with its retention of the existing FireSide team, NextEra Energy Services has no current plans to change the organizational structure or operations of the business as a result of the Agreement and customers will not be impacted in any negative fashion. All existing customer contracts will be honored in full, appropriate notice will be provided to each customer, and the overall customer experience will be enhanced through expanded product offerings and extensive customer service resources," FireSide and NextEra said
In an application before the Georgia PSC, NextEra also provided details on certain of its other retail natural gas suppliers, listing as follows (gas only):
• Vanguard Energy Services (Illinois): This recently acquired entity has 20 years of experience serving 1,200 commercial and industrial customers across 4 local distribution companies. [ECM note: confirming NextEra's recent Vanguard acquisition included the retail gas supply business as well as the broker business]
• FPL Energy Services (Florida): Has 20 years of experience serving 7,000 commercial and industrial customers across 5 local distribution companies.
• Frontier Utilities (Illinois, New Jersey, Pennsylvania, and Ohio, referencing gas operations only): Has 5 years of experience serving 7,000 residential customers across 7 local distribution companies
Additionally, wholesaler NextEra Energy Marketing (NEM) is active in Georgia, and supplies natural gas to marketers, municipalities, and large industrial customers. NEM currently transports over 10 billion cubic feet of natural gas per year in Georgia
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