All Transition Milestones on Schedule for a Fully Integrated Company
TUSTIN, CA / ACCESSWIRE / November 17, 2014 / Premier Holding Corporation (PRHL), an energy seller and reseller in deregulated markets, announces that its 85% owned subsidiary Lexington Power and Light, LLC (LP&L) is aggressively expanding its operations as a supplier of energy (electricity and natural gas) in the first of nine planned deregulated markets. In addition, the coordinated marketing strategy for the New York residential market with Premier's other subsidiary, The Power Company, is ahead of schedule with an important marketing program to be announced before year end. Further, initial funding and credit facilities for power purchases are on pace to meet the company's aggressive growth plan for near-term and beyond.
Premier has authorized Lexington to increase its lease space to 7,500 square feet at its New York headquarters to accommodate the anticipated addition of new employees; the majority being inside sales/energy advisors for the commercial & industrial markets who are knowledgeable and passionate about working with valued outside resellers. This represents the initiation of its more comprehensive plan to handle the eight states and 23 utilities that Lexington plans to enter and work with over the next 18 months.
In a coordinated effort with the leadership at The Power Company, LP&L and TPC aim to release their new New York residential marketing campaign with an expected launch date of December 15th. The plan is to alert New York residential energy customers of their new program. Premier Holding has integrated its subsidiaries to optimize the efficiencies of the combined companies and pass on greater savings to its future clients.
PRHL's President and CEO Randall Letcavage stated, "Our transition and expansion strategy is a key element of our overall business plan and we could not be happier with how well it is going. The acquisition of LP&L was extremely smooth, and the post-acquisition efforts are going even better." Mr. Letcavage continued, "The vision we had almost two years ago is becoming a reality and these achievements show we continue to develop a model we expect will bring us success. It appears that 2015 could be our breakout year."
Lexington Power and Light is a major part of Premier's larger plan to provide "Everything Energy" to its thousands of clients and the massive potential energy market. This new subsidiary allows Premier to leverage the marketing success of energy brokers such as its subsidiary, The Power Company (TPC), and create new energy efficiency prospects for its other subsidiary, Energy Efficiency Experts (E3), allowing Premier to further its plan of integration in this sector.
As previously reported, with this new supplier, Premier will book their energy customer's entire energy supply bill as revenue (estimated to be 8 to 12 times higher than the commission). For example, in addition to the current revenue to a reseller like TPC, as the supplier Premier would also gain the difference between the wholesale and retail cost of energy thereby net revenue is expected to grow 2 to 3 times over what is currently earned.
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, 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.
About Lexington Power and Light, LLC (LP&L)
LP&L is an independent energy services company (ESCO) that sells electricity and natural gas to commercial and residential consumers. Under deregulation, energy consumers have the right to purchase energy supply from an independent ESCO like LP&L. As a direct supplier, our purpose at LP&L is to provide superior customer service in conjunction with the supply of discount electricity and natural gas, while promoting energy conservation. Currently LP&L services the New York Market in four (4) utility areas. Our expansion plans include a nine (9) State presence in twenty three (23) utility areas. Our mission is to educate all energy consumers of the benefits of deregulation and the positive impact it has on them. Built on the principles of saving energy consumers money, honesty and integrity our goal is to make a difference one home, one business, and one neighborhood at a time. Visit www.lexpl.com for more information.
About The Power Company (TPC)
The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information visit: www.thepowercompany.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