The recent approval from FERC allows PRHL to complete the acquisition of this energy supplier and begin ramping up operations
Tustin, CA (Marketwired) - 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.
About Premier Holding Corporation
Under the corporate motto, "Everything Energy," Premier is an energy holding company focused on acquiring and integrating energy companies as synergistic subsidiaries. The Company accumulates residential and commercial clients in deregulated markets from all subsidiaries and cross sells energy and energy efficiency products and services including LED lighting, energy management systems, smart home technology, and more, maximizing profit potential and minimizing cost of client procurement. In addition, Premier Holding provides top line management and financial support, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information, visit PRHL Investors Relations www.prhlcorp.com.
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE: Premier Holding Corporation