Electricity deregulation was designed to increase competition among electricity providers with the hopes that it would improve both prices and service. More evidence has come out suggesting the competitive process has worked, with Forbes naming Connecticut-based North American Power to its list of the most promising companies.
Forbes' list looked at private companies across the country, which can be difficult to find reliable information on since they are not required to issue regular reports the way public companies are. Of these companies, Forbes picked the 100 with the best business models, management or market situation, ultimately the ones that will most likely prove a worthwhile investment.
A full 34 of those 100 companies came from the "Software and Services" category, but sitting at number 57 North American Power represented the only winner from the utilities sector.
"It is an honor to have been recognized by an established and respected publication such as Forbes," Kerry Breitbart, CEO of North American Power, said in a statement. "Our company remains committed to providing consumers a choice to take advantage of affordable and more sustainable Energy Choices, while staying true to our core mission of social entrepreneurship, charitable giving and providing an opportunity to gain financial independence through our rapidly expanding customer referral program."
North American Power has made charitable giving a prominent theme through its Mission to Millions program that allows residents to donate a portion of their electricity bills to organizations of their choice.