October 12, 2011 DonnyE

DPI Energy a Prepaid Electric Provider Requests Permission to Sell to TruSmart Energy Holdings

DPI Energy is one of the popular prepaid electric companies in Texas but like many prepay companies there are often challenges with staying within PUCT rules and regulations to operate as a licensed Texas electric provider. DPI Energy’s owner, Amvensys Capital Group LLC. has requested PUCT approval to sell all of DPI’s units to TruSmart Energy Holdings LLC.

One of the PUCT points when a change of ownership is made is that it is not used to get around a rule or regulation while yet still maintaining similar management or ownership however behind the scenes and hidden they may be. From the PUCT research they conclude that the sale appears to consistent with the terms if the settlement agreement from Sept 15th 2011 as written about on the PUCT website.

Once the PUCT staff have received all exhibits and schedules of the sale agreement they will be able to make final recommendations to the commission of the sale and proceed with allowing it to take place. The change of ownership application was received on October 6th and is being reviewed. The staff has until October 24th to file recommendations regarding this sale. So long as the commission finds that the sale agreement complies with the terms of the settlement previously established by the commission and DPI they sale and change of ownership should go through.

There will be a change in ownership and control as well as technical and managerial qualifications. TruSmart will show proof of shareholder equity in TruSmart no less than $1 million dollars and a stand by letter of credit payable to the PUCT commission of $500,000. These requirements insure that the electric customers and ERCOT are protected against possible bad execution, default, and bankruptcy of the electric provider. TruSmart currently has Texas electric customers and is in compliance with all PUCT rules and has no history of default with their load servicing company.

This sale should be a big positive in an industry that has seen its fair share of prepaid electric companies keep prepayments and true-ups of their customers and close down business leaving the state with huge profits instead of selling when it was expedient and right to do so.

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About the Author

DonnyE Donny owns Electricitybid.com and started the website back in 2007 to help energy consumers in Texas and the U.S. shop for electric rates from multiple vetted electric companies. In his spare time he enjoys wrestling with his 6 year old son, 3 year old son and our new 20 month old son. He also likes softball, kickboxing, and doing fun excursions and activities with his wife Melody.

Comment (1)

  1. christina garcia

    how can i become a dpi agent from home self employed with a small business?

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