Agera Energy and its affiliates have filed for chapter 11 bankruptcy protection and is facilitating an asset sale to Constellation, a subsidiary of Exelon Corporation, subject to bankruptcy court approval. If approved by the bankruptcy court, the majority of Agera’s existing customers will be transferred to Constellation upon completion of the sale.
In a statement, Mark Linzenbold, CFO of Agera Energy said, “Due to unforeseen circumstances impacting the viability of Agera Energy’s business and its objectives, the company’s management team has made the decision to facilitate a sale under chapter 11 to minimize disruptions to our customers. While we are deeply disappointed to be filing bankruptcy, we’re excited that a market-leading energy company will be able to continue serving our customers’ needs.”
Established in 2014 and headquartered in New York, Agera Energy provides retail electricity and natural gas to commercial, industrial, and residential customers. According to its website, Agera Energy provides services to customers 1.8 million contracted Residential Customer Equivalents (RCEs) in sixteen markets: California, Connecticut, Delaware, District of Columbia, Illinois, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas and Virginia.
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