Star Energy Partners receives investment to expand in Ohio and give more competitive rates

March 1
1:32 PM 2014

Star Energy Partners Llc has secured an investment that will enable it to bring its operations further in its service territories in AEP Ohio and FirstEnergy Ohio, a statement about the funding said. As a result of the investment, Star Energy will also be able to provide more competitive energy rates to its clients. The name of the investor and the investment amount were not mentioned in the release about the capital infusion.

Star Energy Partners Chief Executive Officer Tony C. Banks said in the statement, "With this influx of capital, Star Energy Partners can now expand its operations to offer highly competitive energy rates in the AEP Ohio and FirstEnergy Ohio service territories. We will continue to expand our existing business in Ohio and to other competitive retail energy markets."

From providing electricity to residents and businesses in the Duke Ohio and Dayton Power & Light service territories that encompass Cincinnati and Dayton, Star Energy now looks forward to extending its service to Akron, Columbus, Canton, Toledo, Cleveland and Youngstown come June this year. The new financing will also allow Star Energy Partners to come up with more unique products and services. Among these innovations that the funding will make possible is providing customers with an exclusive eCAP or Energy Cost Awareness Program membership as well as giving customers with a "carbon footprint analysis" of the measures they will take to conserve energy, the statement said.

Information from its website showed that eCAP program provides Star Energy's clients with products, services and other information that will enable them to lower their energy usage and save a significant amount of money. Among the solutions offered under the eCAP are programmable thermostat, energy-efficient hot tubs and LED lighting solutions.

By the summer of this year, all customers of Star Energy Partners will be given a complimentary eCAP membership, the statement said.

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