Premier Holding Corporation (OTCQB: PRHL) today announces the following additional details regarding its 80% owned subsidiary The Power Company, USA, LLC (TPC) at www.ThePowerCompany.com, and to provide more clarity from its announcement last Wednesday:
- TPC achieved record sales to commercials clients. On the commercial side, industry sales and growth are measured by the number of Kilowatt hours. Therefore, in last Wednesday's press release it was announced that The Power Company sold a new company record 50 million Kilowatt hours in electricity to commercial clients that included a number of world renowned company accounts. TPC has over 1,500 commercial accounts. Analysts commonly measure valuation of a Company's commercial accounts 5 to 10 times a residential account.
- The Power Company (TPC) contracted about 3,000 new households in May bringing the total number of residential contracts as of the end of May to about 45,000 accounts; the highest number in its history. TPC comfortably projects over 70,000 household accounts by the end of calendar 2014. Industry comparables and analysts have shown that companies have sold for a valuation based on $800 to $1,200 per residential contract.
- TPC services customers as a reseller of utilities in nearly all of the states that are deregulated. States that currently have a deregulated utility market include Illinois, New York, Connecticut, Texas, Delaware, Massachusetts, Maryland, New Jersey, Ohio, Pennsylvania, and Rhode Island. On the residential side, TPC draws from a total of about 40 different power suppliers to help provide its customers low rates.
- On the commercial side, TPC enlisted the services of eight different power suppliers in the latest month which further demonstrates the flexibility and strength of its supplier relationships resulting in providing its clients with the best rates possible. In addition, TPC provided lower cost natural gas for a national chain of rehabilitation clinics which shows how the Company is a complete answer for all energy savings. It also was successful in landing new accounts in May to power the common areas for a group of marquee NYC high rises.
- TPC remains on the cutting edge of innovation in this industry in part to its sophisticated sales portal NEST (National Energy Sales Transactor) which enables rapid, efficient and secure sales transactions of deregulated power. This portal enables sales staff, whether from a computer terminal, a smart phone, or any web browser to access pertinent information on a particular prospect, including their energy profile, and quickly access the energy options available to them. Then after selecting the best power provider, sales agents can process the paperwork online in real-time which enables client acquisition in minutes.
- Premier Holding Corp's 100% owned subsidiary Energy Efficiency Experts (E3) and TPC sales teams have begun to contact TPC's commercial accounts to offer its proprietary lighting solutions and other energy efficiency strategies to further lower utility bills. E3's E-Series Controllers reduce energy consumption of existing lighting systems by up to 36%, extends lamp life up to 40% and ballast life up to 200% reducing stress on landfills, and is 95% recyclable by weight. This lighting solution is considered an upgrade, not a retrofit.
- Premier Holding still plans to become a power provider once it gains approval from the Federal Energy Regulatory Commission (FERC) anticipated later this year. As a supplier, it would book the customers entire energy supply bill as revenue (estimated to be 8 to 12 times higher than the commission). In addition to the current revenue to TPC, as the supplier it would also gain the difference between the wholesale and retail cost of energy so net profit would be expected to grow 2 to 3 times what is currently earned.
PRHL's President and CEO Randall Letcavage stated, "Management at Premier Holding Corp. is focused intently on successfully managing its growth and improving shareholder value. We welcome shareholders, interested investors, and industry analysts to contact us if they have any questions." He added, "We expect to achieve several milestone developments over the near-term that will truly show how far we have come over the past year and where we are headed."
About Premier Holding Corporation
The Company provides financial support and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company's mission is to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated and utilize the overall economics of such products and services for the benefit of its customers. Through subsidiaries we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit PRHL Investors Relations: www.prhlcorp.com.
About The Power Company (TPC)
The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information visit: www.thepowercompany.com
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE: Premier Holding Corporation