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PRESS RELEASE: NextVolt Texas, LLC Files for Load Serving Entity in ERCOT Market

by | Jun 14, 2024 | P1EC News

June 14, 2024 – Houston, TX – NextVolt Texas, LLC, a subsidiary of The Power One Energy Company (P1EC), has taken a significant step forward by filing for a Load Serving Entity (LSE) in the ERCOT market. This strategic move signifies P1EC’s commitment to expanding its presence and service offerings in the Texas energy market.

Currently, P1EC operates as a successful retail electric supplier in the PJM markets of Illinois, Ohio, and Delaware under the brand ResCom Energy, LLC. This expansion into the ERCOT market represents a pivotal moment for the company as it continues to grow its footprint and deliver reliable energy solutions to a broader customer base.

Accompanying this exciting expansion are notable leadership changes within P1EC. The company is thrilled to announce the appointment of industry veteran Richard Rathvon as the new CEO, succeeding Ed Jenks. Rathvon brings over 30 years of legal and executive management experience in the energy services industry, with a focus on customer-facing energy businesses. He has led all aspects of growing and managing retail electric and gas businesses for notable national energy companies and has had overall P&L responsibility for business units with over $1.2 billion in revenue. Additionally, Rathvon has managed business development, sales, and operations in technology, renewables, and sustainability initiatives.

P1EC is also excited to announce that Cullen Hay, a longtime retail energy veteran, as the President of ResCom Energy, LLC and NextVolt Texas, LLC. Cullen has over 26 years of energy experience spanning trading, consulting, and retail energy across all deregulated markets in the U.S. He has worked for many of the industry’s largest companies, overseeing mergers and acquisitions, portfolio management, and the P&L delivery of one of the nation’s largest residential providers.

Furthermore, David Draper, has been appointed as the CFO of P1EC. David Draper graduated from Texas A&M University with a B.B.A. in Accounting and holds an M.B.A. from the University of Houston. He is a Texas Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). David Draper began his career in public accounting at Deloitte and Touche and has over 25 years in the energy industry.

“We are incredibly excited about the opportunities this expansion into the ERCOT market presents,” said Richard Rathvon, CEO of P1EC. “With the combined expertise of our new leadership team and our established success in the PJM markets, we are well-positioned to provide exceptional service and innovative energy solutions to our new customers in Texas.”

Cullen Hay, President of ResCom Energy, LLC and NextVolt Texas, LLC, added, “I couldn’t be more excited to lead the retail energy expansion for Power One Energy Company and deliver on the promise of producing fair and trustworthy products and services to customers throughout the state of Texas as well as across the PJM landscape”.

P1EC’s expansion into the ERCOT market underscores its commitment to delivering sustainable, reliable, and customer-focused energy solutions across multiple regions. The company remains dedicated to fostering strong community relationships and driving forward the future of energy.

For more information, please contact:
Daniel Jenks
Chief Marketing and Growth Officer, P1EC