The long-term credit and supply agreement with Pacific, a subsidiary of Sumitomo Corporation, is expected to help TriEagle meet all of its current and future needs for remaining a top player in competitive energy markets.
"We are very excited to have the opportunity to work with an industry leader such as PSE and expect this relationship to provide tremendous opportunities and stability for TriEagle into the future," said Daniel Cook, TriEagle CEO. "Our new agreement is the logical next step in our company’s strategic plan to provide the best possible value and service to our customers."
The deal will ultimately help TriEagle improve service to its growing base of industrial, commercial and residential energy customers in Texas and Pennsylvania.
Both of these states have seen a huge influx of independent electric suppliers thanks to their deregulated markets. By encouraging residents to switch from utilities to retail provider, both Texas and Pennsylvania have been able to keep electricity rates manageable while fostering overall economic growth.