This news is classified in: Sustainable Energy Power Generation
Feb 13, 2017
Premier Holding Corporation (OTCQB: PRHL), announces that, as a result of the previously announced approval from FERC, it has completed the transaction to acquire a FERC-licensed supplier of deregulated energy from WWCD, an Illinois LLC. The name of the new wholly-owned supplier is American Illuminating Company, or AIC.
The newly acquired supplier will soon begin supplying power to PRHL's customers, and will recruit additional resellers of deregulated power and provide them with its proprietary sales tool, the Energy Services Portal ("ESP") which is a web-based platform that will streamline sales efforts, enforce compliance, and increase productivity.
The addition of an energy supplier has been an integral part of the overall strategy of Premier and is intended to create dramatically more revenue from the same effort previously being expended on "commission-only" sales. Now the company will capture the entire electricity bill to the client as revenue, as opposed to just the commission, with a commensurate increase to profitability.
PRHL's President and CEO, Randall Letcavage, stated, "The acquisition of an energy supplier serves as the 'anchor' for PRHLs business plan to increase revenue and generate more profits. Our database of past and present customers has grown to well over 200,000 purchasers, and grows by over 5,000 contracts per month due to our more efficient call centers, which contributes to the sales made by our door-to-door sales force. As we begin supplying them power, we can now start directly offering them additional products and services that we could not before, including smart home and smart building technologies. And for our commercial/industrial clients we have even more financing and funding options for them. Altogether, with this completed transaction, we have completed the corporate strategic plan and our mission to provide 'everything energy' to our nationwide clientele."
As previously reported, the company expects to use this acquisition as a platform to expand operations and open additional sales offices to support this supplier as it increases its presence in New York, Pennsylvania, Ohio and Connecticut and then expand into the remaining deregulated states as they open up to deregulation.
