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Former TXU Vice Chairman, President and COO Invests in Texas Electric Provider - Former TXU Executive, David Biegler, joins Ambit Energy as an investor and advisor to the company's management team
Former TXU Vice Chairman, President and COO Invests in Texas Electric Provider

 

PRZOOM - /newswire/ - Dallas, TX, United States, 2008/08/21 - Former TXU Executive, David Biegler, joins Ambit Energy as an investor and advisor to the company's management team.

   
 
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Ambit Energy, L.P., announced today that former Vice Chairman, President and COO of TXU, David W. Biegler, has joined the company as an investor and advisor to the executive management team.

A 40-year veteran of the energy industry, Mr. Biegler currently serves as Chairman of Estrella Energy, L.P., a natural gas transportation and processing firm. He retired from TXU as Vice Chairman in 2001.

"This is the first time I have invested in a Texas-based electric retail provider. I like Ambit’s experienced management team, its home-grown systems, its expansion into New York and Illinois, and its remarkable business model. The company has had phenomenal growth and has demonstrated its ability to manage that growth very well. Ambit's strategic partnership with Shell Energy Trading speaks a lot about the respect Ambit has earned from the giants in the industry in such a short amount of time. I am excited about the opportunity to play a role in helping Ambit reach its potential and about joining this group of investors," said Mr. Biegler.

"David Biegler's experience in the energy industry is invaluable. He is a perfect addition to our investor group," stated Ambit Energy Co-founder and CEO, Jere Thompson, Jr. "His standing and respect in our industry and our local community is enormous. We look forward to tapping into his expertise and wisdom."

Mr. Biegler joined TXU in 1997 as its President and Chief Operating Officer. He became Vice Chairman of TXU in May 2000. He previously served as Chairman, President and CEO of ENSERCH, the parent of Lone Star Gas Company. He joined ENSERCH in 1966 where he served in a variety of management and executive positions prior to becoming Chairman.

Mr. Biegler has been involved in community and charitable activities throughout his career. He has served as President, Circle Ten Council, of the Boy Scouts of America. He has previously chaired the Greater Dallas Chamber of Commerce, the Dallas Citizens Council, United Way of Metropolitan Dallas and Education is Freedom. He holds a B.S. in Physics from St. Mary's University in San Antonio and completed the Advanced Management Program at Harvard University. Mr. Biegler also serves as a board member of Southwest Airlines Company, Trinity Industries, Inc. and Dynegy, Incorporated.

Ambit Energy, L.P. (ambitenergy.com) is a retail energy provider based in Dallas, Texas. Ambit currently provides electricity service to residential customers in deregulated Texas markets, serves electricity and natural gas customers in the five boroughs of New York City and Westchester County, and provides natural gas service in certain markets in Illinois.

 
 
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Former TXU Vice Chairman, President and COO Invests in Texas Electric Provider

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Contact: Nick LaVecchia - AmbitEnergy.com 
214-270-1782 nlavecchia[.]ambitenergy.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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