CHICAGO, Aug. 5, 2014 /PRNewswire/ -- PowerOne is now licensed in California to sell natural gas to business customers. This is a new and potentially very lucrative market for the company, which maintains sales and marketing offices in Costa Mesa, California.
"It's very exciting," stated George Wahbeh, CEO of PowerOne. "Breaking into the California market has been something that we have anticipated since the inception of our company. Although the state is not fully deregulated yet, expanding our business into the commercial gas market will give us the necessary foothold to conduct business more successfully in the future. With a population of over 38 million, it's extremely important that we build a rapport with consumers in California."
PowerOne is working with a number of natural gas suppliers who service California to create a competitive environment that benefits customers with lower rates and better terms. Businesses will be able to choose either competitive fixed rates to drive down budget uncertainty or low variable rates for maximum savings.
As PowerOne builds lasting relationships with gas customers, it will be better positioned to include electricity in its offerings as the state continues to increase the amount of electric supply available on the competitive market. Fully deregulated, California could increase the national competitive energy market by 25 percent or more.
SOURCE PowerOne Corporation