Kynect Sells Off Retail Energy and Focuses on Marketing

 

Stream Energy made a name for itself by providing natural gas and electricity to customers in several markets. The deregulated markets allowed the company to deliver energy at competitive prices. Things will likely not change much for customers, but, at Stream, things now move in a completely different direction. The company intends to change its name to Kynect following the sale of its retail energy division.

NRG Retail, a well-established top energy company, now takes over Stream’s retail energy duties. Upon rebranding itself as Kynect, Stream won’t wholly divorce itself from the division. The company intends to handle marketing duties. Stream/Kynect signed an agreement to serve as the exclusive marketing agent for NRG once it takes over the retail energy component.

Regulators, however, have their say in how whether the sale goes through. Everything pends the approval of both the Federal Energy Regulatory Commission and the Georgia Public Service Commission. So far, few think there will be any problems with the permissions going through. Find Related Information Here.

The founder of Stream, Rob Snyder, mentioned that the company delivers service to hundreds of thousands of clients. So, the acquisition made by NRG could propel that company to even great heights in the energy industry.

Kynect also intends to market wireless services. So, the company has no intention of scaling back entirely. Instead, the enterprise seems intent to focus on a particular service, marketing, and maximize its ability to promote energy and wireless communications. NRG could greatly benefit from Kynect’s promotional strategies.

Although the retail division goes to NRG as part of a sale, Snyder mentions they are “partners.” Kynect won’t make any managerial decisions since marketing involves only sales, promotions, and advertising. However, marketing services do become vital to moving product. NRG does need to sell energy, and Kynect intends to make sure they do. See Related Link for additional information.

 

Additional reference: https://www.businesswire.com/news/home/20190807005400/en/Stream-Completes-Sale-Retail-Energy-Business-NRG