FOR IMMEDIATE RELEASE
Gas marketer Nordic Energy to start selling power in Illinois November 5, 2008
Nordic Energy, a player in the Illinois natural gas market -- is now jumping into the retail power game.
The firm was granted a certification of authority from the Illinois Commerce Commission (ICC) to become an alternative retail electric provider (ARES). The timing couldn't be better. "Just looking at the general regulatory landscape, there's about 250,000 customers that will be pushed off of ComEd. Eventually all of the smaller customers will be pushed into the open market over the next couple of years and we view that as a really big opportunity to grow our presence in that market," Nordic President James Deering told us yesterday.
There have been moves recently to declare C&I's in the Prairie State competitive, and Nordic wants to take advantage of that. Nordic's goal will be to service C&I customers with an annual use of more than 15,000 kw annually in the ComEd territory. The firm will use its natural gas experience to help guide it through the power landscape. Its natural gas territory touches on four utilities in Illinois and Indiana, including Peoples Gas, Northshore and NICOR, territories in Illinois and the NIPSCO territory in Indiana. "We know the region, we know the challenges and we have the industry experience to excel in the electric market," said Deering.