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Spark Energy has its ‘best year’

Natural gas prices hit a near 20-year low in 2016, a plunge that allowed the retail electric company, which buys electricity contracts, to buy cheap energy and keep supply costs low.

CEO Nathan Kroeker said last year “was the best year we ever had. When commodity prices are low, that’s our opportunity to grow.”

The 18-year-old company went public in 2014, when it posted a loss of around $4.3 million. But since then, the company has completed 10 acquisitions to help manage its debt. By 2015, it reported a profit of nearly $26 million; in 2016, its net income was nearly $65.7 million.Spark is eighth on the Houston Chronicle’s 2017 list of top-performing Houston companies. Its earnings per share more than doubled and overall. Spark’s revenue grew by nearly 53 percent. Kroeker expects the company’s revenue to grow by a similar magnitude in 2017, driven by at least three more acquisitions.

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*Certain Terms and Conditions apply. This offer is available to first-time customers only. Customers must sign up for a fixed-rate energy plan. The plan may include a monthly service fee depending on the product. Use promo code which is showing above to qualify. Rate expires at the end of the term. Canceling or changing supply service prior to the end of the fixed-rate term may subject the customer to an early termination fee based on the product details. To be eligible to receive Spark Energy rewards, customers must enroll in a fixed term plan and maintain an active Spark Energy account in good standing (no past-due balance owed) for 45 days after the beginning of service. May not be redeemed for cash. This offer is subject to change or cancellation without notice prior to customer acceptance. This offer is nontransferable and cannot be combined with any other offers. This offer applies to services areas where Spark Energy LLC is active. The offer expires on 12/31/2020. See the Terms of Service and Electricity Facts Label (applicable only for TX) at www. SparkEnergy.com for more details.
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