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Ambit Energy Enters Multi-Year Supplier Agreement with Shell Trading Affiliate Coral Energy - Ambit Energy, a Retail Electricity Provider based in Dallas, announced today that it has entered into a multi-year electric supplier agreement with Coral Power, LLC (“Coral”), a member of the Royal Dutch Shell plc group of companies
Ambit Energy Enters Multi-Year Supplier Agreement with Shell Trading Affiliate Coral Energy

 

PRZOOM - /newswire/ - Dallas, TX, United States, 2007/06/10 - Ambit Energy, a Retail Electricity Provider based in Dallas, announced today that it has entered into a multi-year electric supplier agreement with Coral Power, LLC (“Coral”), a member of the Royal Dutch Shell plc group of companies.

   
 
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Under the new multi-year contract, Coral will supply electricity to Ambit Energy to serve residential customers in Texas, New York and other targeted expansion markets.

“In line with our vision to become the finest and most respected energy services provider in the country, this agreement with Coral positions us for tremendous growth and stability as we expand our business in Texas, New York and soon other deregulated markets,” said Ambit Co-founder and CEO Jere Thompson, Jr. “Our business relationship with Coral is yet another step towards realizing our corporate vision."

“Ambit is now strategically positioned to provide our rapidly growing base of customers in Texas and New York with competitive rates and incredible value for years to come,” said Chris Chambless, Ambit Co-founder and Chief Marketing Officer. “We believe that by partnering with one of the largest suppliers of electricity and natural gas in North America, we have enhanced our ability to enter new markets, which in turn expands growth opportunities for our Consultants as we continue to educate consumers about the benefits of deregulation in the markets we serve.”

About Ambit Energy

Based in Dallas, Texas, Ambit Energy, L.P. (ambitenergy.com), is a Retail Electric Provider (REP) in Texas, and an Energy Services Company (ESCO) in New York. Ambit provides electricity services to residential customers in deregulated Texas and New York markets. Ambit acquires customers through a network of independent consultants.

About Coral

Shell Trading is a global business network integrating the worldwide energy trading activities of the Royal Dutch Shell group of companies, of which Coral Energy Holding L.P. and its subsidiaries are an integral part. With headquarters in Houston, Texas, and trading and marketing offices located across North America, Coral Energy offers a comprehensive portfolio of energy-related products and services associated with natural gas and power marketing and trading. Coral Energy markets and trades natural gas, wholesale power and risk products with counterparties and customers across North America. Its customers include commercial and industrial end users, utilities, producers, generators and aggregators.

 
 
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Agency / Source: Ambit Energy

 
 

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Ambit Energy Enters Multi-Year Supplier Agreement with Shell Trading Affiliate Coral Energy

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Contact: Brian McClure - AmbitEnergy.com 
512-413-5577 brm[.]austin.rr.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Ambit Energy securities in any jurisdiction including any other companies listed or named in this release.

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