Costa Mesa, CA-based Commerce Energy Group Inc., which bills itself as the nation’s largest independent retail energy provider, announced Tuesday it has signed a major natural gas supply agreement with the Los Angeles Unified School District (LAUSD), the nation’s second largest public school system. Commerce officials refused to give any details on the volumes or terms of the gas supply deal, which starts in July. The agreement covers 217 campuses within the LAUSD.
“We look forward to helping the school district mitigate and manage the significant price volatility that energy markets have recently experienced,” said Steven Boss, Commerce Energy’s CEO. “For nearly a decade, we have successfully brought energy choices, such as this one made by LAUSD, to California customers and customers in eight other states.”
Commerce recently reported nine-month results as of April 30 that showed a net loss of $2.9 million, or 9 cents/share, compared to a net loss of $3.7 million, or 12 cents/share, for the same period in 2005. For the most recent three-month period that ended April 30, Commerce showed a net profit of $1 million, or 3 cents/share, compared to a net loss of $1.3 million, or 4 cents/share, for the same period in 2005.
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