North American Power

North American Power
North American Power
Industry Retail electricity and natural gas supplier
Founder Kerry Breitbart
Carey Turnbull
Headquarters Norwalk, Connecticut, United States
Area served
 63 different utility territories across 12 states
Key people
 Kerry Breitbart (Chairman)
Carey Turnbull (Co-Founder)
Deryl Brown (CEO)
Revenue $250-500 Million [1]
Number of employees
 70+[2]
Website napower.com

North American Power is a retail energy supplier based in Norwalk, Connecticut.

The company provides electricity and natural gas to residential and commercial customers in 12 deregulated states: Connecticut, Georgia, Illinois, Maine, Maryland, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Texas.

Business model

North American Power formerly used a multi-level marketing model to sell utilities,[3][4] On January 2015, the company announced that it would be terminating the network marketing division of its company.

In January 2011, the Maryland Public Service Commission (MPSC) began an investigation of the company for misleading sales practices.[3] On June 9, 2011, the company was fined $100,000 by the MPSC.[5][6] On August 16, 2013, the commission closed the file after finding that the company had completed the required remedial measures it had agreed to.[7] In a statement, founder Kerry Breitbart attributed the problems to rapid growth, and stated that the company was improved by its re-examined practices.[8]

The company also sold Renewable Energy Certificates (RECs) through their American Wind program.[9][10] A 2014 report by environmental watchdog group EcoRI said that the company did not specify if these certificates were from the older class of RECs, or from the substantially more expensive and efficient newer class. North American Power said that the RECs were certified by ISO New England, although that organization said they do not certify RECs.[11]

North American Power was placed at #57 on Forbes' list of "America's Most Promising Companies" in 2011.[12]

In 2014, North American Power was listed as one of "America's Fastest Growing Private Companies" by Inc. magazine.[13]

References

  1. ↑ http://www.energydigital.com/company/139/North-American-Power. Missing or empty |title= (help)
  2. ↑ "North American Power opens Norwalk HQ". Hartford Business. 22 May 2013. Retrieved 9 January 2014.
  3. 1 2 Hancock, Jay (February 6, 2011). "Misleading electric ads make case for reregulation". The Baltimore Sun. Retrieved November 4, 2014.
  4. ↑ Hincha-Ownby, Melissa (July 21, 2011). "Renewable energy, network marketing and regulatory woes". Mother Nature Network. Retrieved 4 November 2014.
  5. ↑ Mook, Ben (June 13, 2011). "PSC fines energy seller $100K for deceptive practices". Daily Record. Baltimore, Maryland.
  6. ↑ "Case Number: 9253 IN THE MATTER OF THE COMPLAINT OF THE STAFF OF THE PUBLIC SERVICE COMMISSION AGAINST NORTH AMERICAN POWER AND GAS, LLC". Maryland Public Service Commission. Retrieved September 21, 2013.
  7. ↑ "Order No. 85794" (PDF). Maryland Public Service Commission. August 16, 2013. Retrieved September 21, 2013.
  8. ↑ Mook, Ben (13 June 2011). "PSC fines energy seller $100K for deceptive practices". The Daily Record. Retrieved 31 October 2013. While the fine is significant, we are grateful to the PSC staff for bringing our attention to these matters and for acknowledging that this was not intentional — it was the result of an early stage company experiencing rapid growth. This process has caused us to re-examine our practices and hire some of the best compliance and energy experts in the business — we are a better company because of it.
  9. ↑ Lee, Richard (August 9, 2011). "North American Power launches wind energy offering". Stamford Advocate.
  10. ↑ Maykuth, Andrew (December 27, 2010). "Choosing renewable energy can now save money as well as power". The Inquirer. Philadelphia.
  11. ↑ Faulkner, Tim (February 10, 2014). "Is North American Power Green?". EcoRI News. Retrieved October 20, 2016.
  12. ↑ "Forbes - North American Power". Forbes. Retrieved 31 October 2013.
  13. ↑ "North American Power: Number 476 on the 2014 Inc. 5000". Inc.com. Retrieved 2015-12-29.
This article is issued from Wikipedia - version of the 10/25/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.