Back to list Service & repair May 13, 2014 23:00 PowerOptions Inks $325 Million Natural Gas Contract Boston, MA (May 14, 2014) - PowerOptions and Hess Energy Marketing, LLC (HEM), a wholly owned subsidiary of Direct Energy Business, LLC, announced today that they have signed a $325 million, four-year natural gas supply contract providing certainty and predictability to its 500 members who are among the Commonwealth's leading nonprofits and government institutions. The supply agreement begins in May 2015 and extends to November 2019. "This contract is a great opportunity for our customers, with several pricing options. Members can lock in their price for the full term of the contract, creating an ability to better predict their natural gas bills," said PowerOptions President and CEO Cynthia A. Arcate. PowerOptions has been providing nonprofits, state entities, and cities and towns throughout the Commonwealth with affordable energy solutions for over 15 years. This natural gas contract will continue to provide PowerOptions members with dependability and opportunity for predictability on their natural gas bills in the increasingly volatile energy market, according to Arcate. PowerOptions' current natural gas supply program, contracted with Hess Corporation, the previous owner of HEM, in 2011, supplies approximately 13 million dekatherms annually to PowerOptions' members. For comparison, 1 dekatherm is approximately enough to meet the natural gas needs of an average home for four days, according to the American Gas Association. "We are pleased that PowerOptions has again selected us from a strong pool of candidates to continue serving their members for the next several years," said David Gilbert, manager, New England direct sales, Hess Energy Marketing. "This unique offering to the PowerOptions members is another example of Hess Energy Marketing as a total energy management provider." To note, Direct Energy Business signed a similar $175 million electric contract with PowerOptions in October 2013. For further information, please contact: Andrea Romo Direct Energy andrea.romo@directenergy.com 617-428-4250