About ONEnergy
ONEnergy Inc. engages in the gas and power, and energy efficiency businesses in Canada and the United States. The company’s wholly-owned subsidiaries include Sunwave Gas & Power Inc. (Sunwave), Sunwave USA Holdings Inc., Sunwave Gas & Power New York Inc., Sunwave Gas & Power Illinois Inc., Sunwave Gas & Power Massachusetts Inc., Sunwave Gas & Power Connecticut Inc., Sunwave Gas & Power Pennsylvania Inc. and Sunwave Gas & Power Ohio Inc. (collectively referred to as ‘Gas & Power’); and 0867893 B.C. Ltd. operating as PVL Projects (PVL). Business The company operates its business under two primary brand names, Sunwave Gas & Power, for natural gas and electricity for both residential and commercial customers; and since April 2016, ONEnergy, for energy efficiency products and services. Gas & Power The company’s energy retailing business engages in the sale of electricity to residential and commercial customers in Connecticut, Pennsylvania and Massachusetts; and the sale of electricity and natural gas to commercial customers only in Ontario under long-term fixed-price or variable-priced contracts under the brand name, Sunwave Gas & Power. It also provides its customers with the option of purchasing environmentally-friendly ‘green’ energy, in addition to conventionally-produced energy. The company purchases its energy requirements from various wholesale energy markets, including both physical and financial markets, and purchases its wholesale energy requirements at various city gates for natural gas and various utility load zones for electricity. Marketing and Customers The company markets its energy commodity products through various sales channels. Gas & Power markets energy commodity to commercial customers in both the U.S. and Canada through a network of direct sales agents, who provide customers with a customized sales process. In U.S. residential markets, Gas & Power markets and sells to both residential and commercial customers through the company’s www.gosunwave.com Website, as well as through state-operated energy shopping Websites, such as www.energizeCT.com in Connecticut and www.PApowerswitch.com in Pennsylvania. Strategy Gas & Power’s strategy is to focus on markets that provide a value proposition for its customers. Seasonality In Ontario, the natural gas volumes delivered from Gas & Power’s wholesale suppliers remain constant throughout the year as required by the local natural gas distribution companies (LDCs). During the winter, gas is consumed at a rate that is greater than delivery and, in the summer, deliveries to LDCs on Gas & Power’s behalf exceed customer consumption. Energy Efficiency The company sells commercial energy efficiency products and services business under the ONEnergy and PVL Projects brands. ONEnergy offers commercial, industrial, manufacturing, retail and institutional clients a range of energy efficiency products and services, including high efficiency lighting, commercial HVAC (furnaces, air conditioners, boilers and ancillary equipment) products and services, energy storage (battery) products and services, energy auditing services, energy management software products and services, and commercial solar photovoltaic design and construction. Marketing and Customers ONEnergy markets its products and services through employee salespersons, who focus on larger enterprise accounts, as well as through a network of independent commission-based salespeople. Discontinued Operations In December 2015, the company discontinued its Home Comfort business, which owned and operated a portfolio of HVAC equipment and water heaters, rented to residential customers in Ontario and Alberta, under long-term water heater and HVAC rental programs. History The company was formerly known as Look Communications Inc. and changed its name to ONEnergy Inc. in July 2013.