Shell Energy North America (US), L.P., closes MP2 Energy llc Acquisition Deal
Sep 13, 2017
Houston – Shell Energy North America (US), L.P. (SENA), announced today that it has formally closed the MP2 Energy LLC (MP2) acquisition deal previously announced on 29 June, 2017.
MP2 is an energy leader in Demand Response Solutions and is developing new and innovative approaches to on-site generation management. These strengths now combined with SENA’s trading capabilities, market knowledge and balance sheet result is an entity that can compete with the largest and most sophisticated energy providers delivering electricity across the U.S.
“We are proud to bring MP2 into the Shell Energy North America family,” said Glenn Wright, VP, SENA. “MP2 has established itself as a significant player in the large end-user electricity market, and achieved its position by combining optimally designed energy solutions and exceptional customer service.”
MP2 will continue to be managed by the existing MP2 management team as a wholly-owned subsidiary of Shell Energy North America. From its offices in The Woodlands, Texas, MP2 will utilize the additional resources that Shell provides to further develop and enhance the leading-edge services and products MP2 is built upon.
Note to editors
SENA and its subsidiaries operate as an integral part of the global Shell Trading network. The company and its subsidiaries trade and market natural gas, wholesale power, environmental and risk management products with counterparties and customers throughout the region. Its customers include large commercial and industrial users, retail energy companies, local gas distribution companies, electric utilities, independent power producers, oil and gas producers, municipalities, and rural electric cooperatives. SENA consistently ranks within the top three gas and power marketers in North America according to Platts. Capabilities include marketing natural gas within the U.S. and Canada, with a sales volume of 10 billion cubic feet per day; marketing wholesale and retail power, with sales topping 270 million megawatt hours annually; and participating in nearly all organized power markets, with access to over 9,500 megawatts of generating capacity across North America.
MP2 Energy is a top-tier power company that manages power plants, delivers retail power to end-use customers, and masters all other aspects of the power markets like asset management, commodity hedging, solar installation and offtake, wind and distributed generation.
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