The competitive electricity supplier, which served 14 states, is undergoing Chapter 11 bankruptcy.

Liberty Power penalized by RIPUC for failing to meet clean energy goals

Florida electricity retailer faces $250K penalty for failing to meet R.I. renewable energy requirements
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THE R.I. PUBLIC UTILITIES COMMISION on Friday voted to collect a $250,000 bond from electricity company Liberty Power Holdings LLC for failing to meet the state's renewable energy credit requirements. PROVIDENCE – Declaring bankruptcy does not exempt an electricity company from facing penalties for failing to meet Rhode Island’s renewable energy requirements, state utility regulators said on Friday. The R.I. Public Utilities Commission voted 3-0 to force Florida-based Liberty Power Holdings LLC to give up the $250,000 bond – which had already been posted – for not buying the mandated amount of renewable energy credits. The state under its Renewable Energy Standard requires all energy carriers to buy a certain amount of renewable energy credits, or certificates, each year or else pay into a fund run by R.I. Commerce Corp. In 2020, Liberty Power Holdings was supposed to have bought more than 11,000 renewable energy certificates – each equivalent to 1 megawatt-hour of clean energy – or pay $808,000, according to filings with the PUC. The company had until June 2021 to submit records to the commission proving it met the requirement but such proof was never received, according to filings. When questioned by state regulators, Liberty Power tried to beg off meeting the mandate because it had filed for bankruptcy, according to a Sept. 14 letter from an attorney for the company. The Florida-based electricity provider file for Chapter 11 bankruptcy in April 2021, which it said was due to the rate hikes stemming from the historic winter storm in Texas, one of 14 states where it operates. - Advertisement -
Rhode Island regulators appealed to U.S. Bankruptcy Court in the South District of Florida to let them recoup payments or other penalties despite Liberty’s bankruptcy status. On Feb. 3, the bankruptcy court judge granted the R.I. Public Utilities Commission the right to recoup the $250,000 bond Liberty had posted, though the ruling does not let the state impose any other penalties such as collecting the $808,000 payment in lieu of the energy credits. Earlier this week, the PUC issued a warning to Liberty Power, giving the company one last chance to meet with the requirements by 4 p.m. Thursday or else give up the bond. As of Friday morning, the company had not complied, according to Commission Chairman Ronald Gerwatowski. Liberty Power did not immediately respond to inquiries for comment Friday afternoon. In a prior letter to the commission, Liberty Power said it intended to “wind up” its business in Rhode Island by the end of 2021, but it was unclear whether that happened, or how many Rhode Island customers bought electricity from Liberty Power previously. The company was still advertising quotes for Rhode Island rates on its website as of Friday. Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com. Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber. TAGS

Florida electricity retailer faces $250K penalty for failing to meet R.I. renewable energy requirements

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(Bloomberg) -- Liberty Power, an electricity retailer that serves customers in about a dozen states, fired all its employees after suffering deep losses in the Texas freeze. (Bloomberg) -- Liberty Power, an electricity retailer that serves customers in about a dozen states, fired all its employees after suffering deep losses in the Texas freeze. The company was unable to give employees a 60-day notice because of “events which are outside our control that impacted our ability to predict future revenues to support continued operations,” President Derik Viner told staff late Sunday night in an email seen by Bloomberg News. Liberty Power is the latest power company to take a hit from the cold blast in February that left millions without power and killed more than 100 people. It follows Griddy Energy LLC, which exposed consumers to volatile power prices and quickly went out of business. The main Texas grid operator is still short almost $3 billion in payments from market participants. Viner and Liberty Power didn’t immediately respond to requests for comment. Fort Lauderdale, Florida-based Liberty Power had about 100 employees and operates in 11 states and Washington D.C. Between 20% and 25% of its roughly 100,000 customers are from Texas, the people said. Liberty Power was founded by  David Hernandez and  Alberto Daire in 2001, according to its website. Hernandez was a finance manager at Enron for two years before becoming CEO of the retailer, according to his LinkedIn profile. He previously worked at Nortel Networks along with Daire, their profiles said. The two founders also didn’t immediately respond to request for comments. ©2021 Bloomberg L.P.

Power Supplier Burned by Texas Freeze Fires Its Entire Staff

After a year-long RFP process, Direct Energy Business has been chosen as WSSC Water’s renewable retail electric service provider. To accommodate WSSC Water’s internal greenhouse gas emissions reduction plan (GHG emissions), Direct Energy Business has entered into a transaction to purchase energy and Renewable Energy Certificates associated with such energy from Sandy Ridge Wind, a 50MW wind generation facility located in Blair and Centre Counties, Pennsylvania and owned by Liberty Power (“Sandy Ridge”). That purchase will be integrated in with a previously won retail supply agreement and used to offset WSSC Water’s energy usage through 2030. Pursuant to the transaction, Liberty Power has made a commitment to generate up to 70,000 MWh/ year of electricity and associated renewable attributes. This wind generated energy will allow WSSC Water to offset their electricity use by an additional 30% when paired with the commission’s existing solar and wind efforts. “Producing safe, reliable drinking water to 1.8 million customers and returning clean to our environment requires energy – a lot of energy,” said WSSC Water’s Energy Manager Rob Taylor. “As one of Maryland’s largest energy consumers, and an agency dedicated to environmental stewardship, WSSC Water is constantly examining how we can be cleaner and greener in our energy use. This partnership will help us accomplish these goals by reducing GHG emissions by 10% every five years through 2050.”
 
Patrick Taylor, Director of Energy Services for Algonquin Power & Utilities Corp., the parent company of Liberty Power, said, “We are pleased to have been able to partner with both WSSC Water and Direct Energy Business in supplying locally generated, wind energy and the associated RECs to run essential services in the DC region. Our goal is to continue to partner with customers in finding creative solutions and bringing more wind generated energy to market.”
 
Direct Energy Business Manager of Wholesale Origination, Ray Polakowski, explains how the Renewable Services team navigated the unique agreement. “My job is to listen to the customer’s goals and needs and determine how we can help. Working with Algonquin’s Liberty Power team to accomplish WSSC Water’s goals, allowed three parties to step toward a greener, more sustainable future.”
Direct Energy is one of North America’s largest retail providers of electricity, natural gas and energy-related services to over three million homes and business. It is part of Centrica plc (LSE: CNA), a leading international energy services and solutions provider that is founded on a 200-year heritage of serving people. Direct Energy, its subsidiaries and/or affiliates, operate in 50 U.S. states plus the District of Columbia and 8 provinces in Canada. We are focused on satisfying the changing needs of our customers, enabling them to transition to a lower carbon future. Our aim is to reduce emissions in line with Paris goals by 2030 and develop a path to net zero by 2050.

Direct Energy | Washington Suburban Sanitary Commission Increases Green Efforts with Direct Energy Business and Liberty Power

., Liberty Utilities, Liberty Power
APUC is a diversified international generation, transmission and distribution utility with approximately U.S. $11 billion of total assets. Through its two business groups, Liberty Utilities and Liberty Power, APUC is committed to providing safe, reliable and cost effective rate-regulated natural gas, water, and electricity generation, transmission and distribution utility services to over 1 million connections largely in the United States and Canada. APUC is a global leader in renewable energy through its portfolio of long-term contracted wind, solar and hydroelectric generating facilities representing over 2 GW of installed capacity and more than 1.6 GW of incremental renewable energy capacity under construction. APUC strives to deliver continuing growth and the pursuit of operational excellence in a sustainable manner through an expanding global pipeline of renewable energy, electric transmission, and water infrastructure development projects, organic growth within its rate-regulated generation, distribution and transmission businesses, and the pursuit of accretive acquisitions. APUC’s common shares, Series A preferred shares, and Series D preferred shares are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. APUC’s common shares, Series 2018-A subordinated notes and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN, AQNA and AQNB, respectively. Visit APUC at  www.algonquinpowerandutilities.com  and follow us on Twitter @AQN_Utilities. SOURCE Algonquin Power & Utilities Corp.
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DENVER, Oct. 20, 2020 /PRNewswire/ — Hycroft Mining Holding Corporation (Nasdaq: HYMC ) (“Hycroft” or the “Company”), is pleased to announce the appointment of Stanton Rideout as the Company’s Executive Vice President & Chief Financial Officer, effective October 20, 2020. Mr. Rideout is a seasoned financial executive and has more than 30 years of senior executive experience in the mining and manufacturing industries, including Romarco Minerals Inc. (“Romarco”) and Phelps Dodge Corporation (“Phelps Dodge“). Mr. Rideout served as Senior Vice President, Chief Financial Officer of Romarco from 2010 to 2015 where he arranged the project debt financing for the Haile Gold Mine in South Carolina. Since Romarco was acquired by OceanaGold Corporation, he has been providing debt and equity consulting services for a number of mining companies in addition to being Chairman and consulting CEO of Carolina Gold Resources Inc. (“CGR”), a Canadian precious and base metals project-generator company. From January 2008 until May 2008, Mr. Rideout was Executive Vice President and Chief Financial Officer for Swift Transportation Corporation (“Swift”), a large North American truckload carrier. Prior to Swift, Mr. Rideout held various senior finance and accounting positions over 25 years with Phelps Dodge, a publicly traded mining and manufacturing company. Those roles included Vice President and Treasurer, Vice President and Controller, and Investor Relations Officer and Chief Financial Officer of Phelps Dodge International Corporation. Mr. Rideout earned his Master’s in Business Administration from the University of Evansville and his Bachelor of Science, Business/Finance, from Western Kentucky University. Mr. Rideout is a Certified Public Accountant. Dr. Diane Garrett, the Company’s President and Chief Executive Officer, and a member of the board of directors, said “on behalf of Hycroft, I want to welcome Stan to the Company. He and I worked together at Romarco developing, permitting, financing and initiating construction at the Haile Gold Mine in South Carolina. I believe Stan’s deep knowledge of, and experience and connections in, the mining industry, coupled with his strong finance and accounting acumen, position our Company well as it heads toward its future.”
Effective upon Mr. Rideout’s appointment as Executive Vice President & CFO, on October 20, 2020, Mr. Jeffrey Stieber will step down from his position as Vice President and Interim Chief Financial Officer and will become Senior Vice President of Finance and Treasurer, reporting to Mr. Rideout. Mr. Stieber will remain an executive officer of the Company. “I want to sincerely thank Jeff for all his outstanding work as our Interim CFO. He is an important member of Hycroft and I look forward to continuing to work with him as we drive our company forward,” said Dr. Garrett. About Hycroft Mining Holding Corporation
Hycroft Mining is a US-based, gold and silver producer operating the Hycroft mine located in the world-class mining region of Northern Nevada. The Hycroft mine features one of the largest gold/silver deposits in the world with a low-capital, low-cost process and a 34-year mine life. Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the Unites States Securities Exchange Act of 1934, as amended, or the Unites States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included herein and public statements by our officers or representatives, that address activities, events or developments that our management expects or anticipates will or may occur in the future, are forward-looking statements, including but not limited to such things as future business strategy, plans and goals, competitive strengths and expansion and growth of our business. The words “estimate”, “plan”, “anticipate”, “expect”, “intend”, “believe” “target”, “budget”, “may”, “can”, “will”, “would”, “could”, “should”, “seeks”, or “scheduled to” and similar words or expressions, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intention identify forward-looking statements. Forward-looking statements address activities, events or developments that the Company expects or anticipates will or may occur in the future and are based on current expectations and assumptions. These statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause our actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. These risks may include the following and the occurrence of one or more of the events or circumstances alone or in combination with other events or circumstances, may have a material adverse effect on the Company’s business, cash flows, financial condition and results of operations. Forward-looking statements include, but are not limited to: industry related risks including: fluctuations in the price of gold and silver; uncertainties concerning estimates of reserves and mineralized material; uncertainties relating to the ongoing COVID-19 pandemic; the intense competition within the mining industry and state of Nevada; the inherently hazardous nature of mining activities, including environmental risks; our insurance may not be adequate to cover all risks associated with our business, or cover the replacement costs of our assets; potential effects on our operations of U.S. federal and state governmental regulations, including environmental regulation and permitting requirements; cost of compliance with current and future government regulations; uncertainties relating to obtaining or retaining approvals and permits from governmental regulatory authorities; potential challenges to title in our mineral properties; risks associated with proposed legislation in Nevada that could significantly increase the costs or taxation of our operations; and changes to the climate and regulations and pending legislation regarding climate change; business-related risks including: risks related to our liquidity and going concern considerations; risks related to the heap leaching process at the Hycroft Mine and estimates of production; our ability to achieve our estimated production and sales rates and stay within our estimated operating and production costs and capital expenditure projections; risks related to our limited experience with a largely untested process of oxidizing and heap leaching sulfide ores; the decline of our gold and silver production; risks related to our reliance on one mine with a new process; uncertainties and risks related to our reliance on contractors and consultants; uncertainties related to our ability to replace and expand our ore reserves; the costs related to our land reclamation requirements; availability and cost of equipment, supplies, energy, or commodities; the commercial success of, and risks relating to, our development activities; risks related to slope stability; our ability to raise capital on favorable terms or at all; risks related to our substantial indebtedness, including cross acceleration and our ability to generate sufficient cash to service our indebtedness; uncertainties resulting from the possible incurrence of operating and net losses in the future; risks related to disruption of our business due to the historical chapter 11 proceedings; the loss of key personnel or our failure to attract and retain personnel; risks related to technology systems and security breaches; risks related to current and future legal proceedings; our current intention or future decisions whether or not to use streaming or forward-sale arrangements; risks associated with possible future joint ventures; and risks that our principal stockholders will be able to exert significant influence over matters submitted to stockholders for approval; risks related to our securities, including: volatility in the price of our common stock; risks related to a lack of liquidity in the trading of our common stock and warrants; potential declines in the value of our common stock and warrants due to substantial future sales of our common stock and/or warrants; dilution of an investment in our common stock and warrants; we do not intend to pay cash dividends; and anti–takeover provisions could make a third party acquisition of us difficult. These statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause our actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on current expectations. Although our management believes that its expectations are based on reasonable assumptions, we can give no assurance that these expectations will prove correct. Please see our “Risk Factors” set forth in our Annual Report on Form 10-K for the year ended December 31, 2020 and “Risk Factors” set forth in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020, for more information about these and other risks. You are cautioned against attributing undue certainty to forward-looking statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Although these forward-looking statements were based on assumptions that the Company believes are reasonable when made, you are cautioned that forward-looking statements are not guarantees of future performance and that actual results, performance or achievements may differ materially from those made in or suggested by the forward-looking statements contained in this news release. In addition, even if our results, performance, or achievements are consistent with the forward-looking statements contained in this news release, those results, performance or achievements may not be indicative of results, performance or achievements in subsequent periods. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements made in this news release speak only as of the date of those statements, and we undertake no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments. SOURCE Hycroft Mining Holding Corporation
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GWS Tool Group
Located near Asheville, North Carolina STF is a leading manufacturer of precision cutting tools, primarily in the categories of polycrystalline diamond tools (PCD), single-crystal diamond tools (SCD), and Cubic Boron Nitride (CBN). The company’s product capability portfolio includes brazed PCD-rotary tools for non-ferrous materials, PCD 8-facet drills for aerospace composites, PCD grooving inserts for automotive applications, and multi-stepped brazed PCD monoblock tools. The company has the equipment and experience to design, manufacture and regrind tooling for a wide variety of applications, including boring, grooving, turning, and profiling difficult-to-machine materials such as high-silicon aluminum, composites, carbon fiber, and plastics. With the addition of STF, GWS further solidifies its position as the premier multi-disciplinary manufacturer of high-performance cutting tools in the marketplace today. “STF is an ideal fit for our organization,” said Rick McIntyre, GWS’ CEO. “The experience and know-how of the team that we are bolting on, combined with their proprietary manufacturing processes that they have developed over time, will create immense value for GWS customers. Rotary PCD tooling has been a limited category for GWS for some time, and this fills some of those gaps perfectly,” McIntyre continued. “I am very excited for STF Precision to be joining GWS Tool Group,” said Jason Ford, co-owner and President of STF Precision. “We have accomplished a lot at STF, feel strongly about our ability to produce some of the most precise and capable products in the industry, and are incredibly excited about the GWS engine being able to expand our reach.”
Jason Ford will continue with the GWS team as the General Manager for the North Carolina manufacturing operations and co-owner and vice president, David Novak, will be joining the GWS leadership team as Director of Systems and Integration. The continued expansion of GWS by way of acquisitions and constant investment in world-class technology, equipment and most importantly, people, has created an unmatched value proposition for customers operating in advanced machining environments, especially in the area of custom tooling. About GWS Tool Group
GWS Tool Group is a US-based, vertically integrated manufacturer of highly engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive, and medical sectors. GWS Tool Group has acquired multiple businesses in the course of its growth which now serves as the respective manufacturing divisions for the Company. For more information, please visit www.GWSToolGroup.com  or contact Drew Strauchen, EVP of Marketing & Business Development for GWS Tool Group, at [email protected] or 877.497.8665. Related Images
According to the report, the Global Print and Apply Labeling and Labeling Equipment Market is expected to grow at a CAGR of 6.8% during the forecast period. Rise in adoption of automation techniques, increasing demand for security labeling to avoid fraud and theft and technological advancements are the major factors driving the market growth. However, the high cost of automatic labeling machines is restraining the market growth. Print and apply labeling and labeling equipment is used to apply or print-and-apply labels to different products, items, packages or containers. Owing to their multiple usages, various types of labels are capable of adhering to a variety of surfaces including aluminum, fiber drums, plastic, steel, and glass. Labels are applied to every type of product to decorate, brand or to provide information regarding products to consumers. Based on End-user, the food and beverages segment is likely to have a huge demand due to requirement for automation in the food & beverage industry. As consumers are more conscious about the details of the product, the labels play a crucial role in providing information about the product and help boost sales. Manufacturers are now shifting to automated labeling systems to meet the growing demand from the food and beverage industry. By geography, Asia-Pacific is going to have a lucrative growth during the forecast period due to rising urbanized population, increasing demand for packaged food, easy availability of polymer films, and relatively low labor cast. China is a fast-developing market. The adoption of efficient and better-performing technologies to produce high-quality products has resulted in the expansion of the market. Some of the key players profiled in the Print and Apply Labeling and Labeling Equipment Market include Axon LLC, CECLE Machine, Etiquette Network, HERMA GmbH, Heuft SYSTEMTECHNIK GMBH, KHS GmbH, Kunshan bojin Trading Co Ltd., Marchesini Group S.p.A., Novexx Solutions GmbH, PDC International Corporation, Quadrel Labeling Systems, SACMI (Societa Anonima Cooperativa Meccanici Imola), Sidel SPA (Tetra Laval), Weber Marking Systems GmbH, Worldpack Automation Systems and Wuxi Sici Auto Co Ltd.
What the report offers:
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations)
Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc. Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered:

Algonquin Power & Utilities Corp. Announces Dates for Third Quarter 2020 Financial Results and Conference Call

Boston Energy Trading and Marketing, the Boston office of Edison Mission Energy, companies own, operate and lease a portfolio of electric generating facilities that are powered by wind, natural gas and coal, as well as an energy marketing and trading operation.

Edison Mission Energy - Boston Energy Trading and Marketing

`` Now with new capital and the Boston Energy Trading and Marketing LLC power supply agreement in place , Liberty Power Corp. is well-positioned to continue to grow .

Liberty Power signs new multi-year energy supply agreement with Mitsubishi subsidiary

Mitsubishi Corporation (TYO: 8058) (LSE: MBC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, living essentials, and environmental business. MC's activities are expanding beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products, and manufacturing of industrial goods.

Mitsubishi Corporation

FT. LAUDERDALE , Fla. , July 13 , 2020 / PRNewswire / -- Liberty Power Corp. , one of the nation 's largest and longest tenured independent retail electricity suppliers , today announced its new multi-year supply agreement with Boston Energy Trading and Marketing LLC .

United States Hispanic Chamber of Commerce Foundation (USHCC Foundation) enriches the experiences of future leaders in the world of business through lifelong learning and support. The USHCC Foundation seeks to equip prospective entrepreneurs with the skills and resources needed to build businesses, enrich their communities, and reach their full potential as professionals. It was founded in 1979 and is based in Washington, DC.

United States Hispanic Chamber of Commerce Foundation

`` This program has also strengthened the partnership between the Chamber of Commerce Foundation and Liberty Power Corp. as we watch our shared venture bear fruit year after year . ''

Liberty Power and the United States Hispanic Chamber of Commerce Foundation Partner Again for Fourth Annual Liberty Power Bright Horizons Scholarship Awards

United States Hispanic Chamber of Commerce (USHCC) actively promotes the economic growth, development, and interests of Hispanic-owned businesses, that combined, contribute over $700 billion to the American economy every year.

United States Hispanic Chamber of Commerce

Shell Energy Solutions is an energy company. It provides energy solutions in all aspects of the power market. It serves as a risk manager, balancing the energy supply and demand equation for its clients. It is a retail electricity provider and a qualified scheduling entity (QSE) in ERCOT and a curtailment service provider (CSP) in PJM, providing the full range of demand response services in all areas of those markets. It also partners with its clients and guides them step by step when enrolling in a DR program. Shell Energy Solutions was founded in 2009 and is based in The Woodlands, Texas.

Shell Energy Solutions

Spirit Airlines

Direct Energy

Miller Thomson

Liberty Power is a private retail electricity supplier operating in eight states and the District of Columbia.

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