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June 02, 2015 6:25 AM ET

Electric Utilities

Company Overview of Stream Gas & Electric, Ltd.

Company Overview

Stream Gas & Electric, Ltd., doing business as Stream Energy, engages in the retail of energy products. It provides electricity and gas for homes and business customers in Georgia, Maryland, New Jersey, New York, Pennsylvania, and Texas. The company was founded in 2004 and is based in Dallas, Texas.

1950 North Stemmons Freeway

Suite 3000

Dallas, TX 75207

United States

Founded in 2004

Phone:

214-800-4400

Fax:

214-800-4440

Key Executives for Stream Gas & Electric, Ltd.

Chief Executive Officer and Director
Co-Founder and Chairman
Co-Founder
Co-Founder and Senior Managing Director of National Expansion
Age: 52
Chief Financial Officer
Age: 62
Compensation as of Fiscal Year 2014.

Stream Gas & Electric, Ltd. Key Developments

Stream Secures Temporary Restraining Order Prohibiting Solavei from Disparaging the Company

Stream has secured a temporary restraining order (TRO) from the 192nd District Court prohibiting Solavei from disparaging Stream. As announced, Stream has moved forward with its planned nationwide launch of Mobile Services by Stream, and Associates are already eagerly signing on new customers.

Dallas District Court Blocks Stream Energy from Using Proprietary Technology and Information to Launch a New Mobile Phone Service

Dallas District Court judge blocked Stream Energy from using proprietary technology and information to launch a new mobile phone service after Solavei sued Stream for stealing trade secrets gathered during extensive merger talks. Solavei sought the injunction to halt Stream and its marketing arm, Ignite, from using trade secrets and other intellectual property in launching a mobile phone service sold through an online direct-marketing platform - exactly the type of social commerce business pioneered and continuously innovated upon by Solavei. Stream's mobile business was set to launch on Jan. 24, 2015, at an event in Las Vegas. In May 2013, the companies entered merger discussions under a mutually agreed-upon confidentiality agreement. A letter of intent to combine the companies was signed in November 2013, pending due diligence by both sides. From February 2014 to April 2014, Solavei shared its most confidential and proprietary information with Stream, including its technology, social marketing strategies, go-to-market plan and customer lists. Shortly before the transaction was set to close, Stream terminated the deal. The lawsuit states: 'Three months later, in September 2014, Stream announced its plans to roll out a mobile phone direct marketing business in its own right, within a matter of months'.

Stream Energy Launches Northeast Expansion

Stream Energy launched its expansion on June 22, 2013. The firm now offers residential and commercial energy services across New York, New Jersey and Maryland with 5.1 million meters available in the Con Edison (Con Ed) service area of New York alone. This expansion of services includes 10 new territories totaling 5.7 million new meters. Residential service is now offered in Con Ed for electricity and natural gas, as well as in the New Jersey Natural Gas area of New Jersey for natural gas only. In addition to the aforementioned residential areas, commercial service is also offered in the Rochester Gas and Electric area of New York for electricity and natural gas, as well as in the Delmarva and Baltimore Gas and Electric areas of Maryland for electricity and natural gas, respectively.

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