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ConEd Solutions heading to Texas

Another big player is coming to the Texas power market.
       ConEdison Solutions -- Consolidated Edison's competitive marketer -- has started selling power to C&I customers in the Houston area (CenterPoint Energy's footprint).
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Call 800-486-8201 or click here to learn more, see a free sample issue and subscribe today!        It's part of a three-year strategy to grow ConEd from a regional to national player in competitive power, Jorge Lopez, the marketer's vice president of retail commodity and energy services, told us.
       ConEd Solutions plans to start selling in the Dallas area (TXU footprint) by the third quarter.
       The marketer actually got its retail license from the PUC back in April.
       Why the wait?
       ConEd Solutions wanted to make sure it got everything lined up --such as back-office operations -- before entering the market, Lopez said.
       Despite its expertise, ConEd Solutions won't initially schedule its own power in ERCOT, he added.
       The marketer didn't want its entry into the market to get held up by the qualification process.
       Plenty of stable firms offer scheduling services, Lopez explained.
       ConEd Solutions is going to focus on medium C&Is 50 kw and above, he added, offering fixed-price and indexed products.
       Lopez sees a big opportunity for ConEd Solutions to use its energy management and consulting services to attract customers -- most of whom are already shopping.
       He touted ConEd Solutions' experience in demand-management programs as another valued-added product.
       Working with aggregators, brokers and consultants is to be a key part of its strategy too.
       Lopez knows that the Texas marketplace is a tough place to do business.
       Nearly all the big national players have entered the market that boasts a wealth of homegrown, niche marketers too.
       WPS Energy Services joined the market in January (RT, 1/23) while Pepco Energy Services is just waiting for the right opportunity to move in (RT, 12/21).
       Meanwhile, the market has seen some consolidation as seven marketers have exited in the past few months, Lopez observed.
       They either couldn't manage the volatility or just didn't have any more capital to grow, he said.
       Lopez thinks that Texans are looking for the financial stability that bigger names can provide after seeing the spate of exits.
       Originally published in Restructuring Today on March 21, 2006

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