XOOM Energy (ACN) Announces International Expansion Into Japan
by Ted Nuyten on January 12, 2017
The XOOM Energy family of energy retail companies, providing natural gas and electricity services to homes and businesses across North America, announced further efforts in their international expansion with the entry into the Japanese energy market.
XOOM Energy Japan, GK, an affiliate of XOOM Energy, LLC, will be offering electric services to residential and small business consumers in the Tokyo Electric Power Company (TEPCO) market.
In April 2016, Japan’s consumer electric energy market became fully liberalized, which now allows low-voltage consumers to choose their preferred electric power company and electricity pricing plan. “With the recent liberalization of the consumer energy market in Japan, there is a tremendous opportunity to educate and enable consumers to take control of their energy cost,” states Thomas Ulry, Chief Executive Officer of XOOM Energy.
Japan’s Ministry of Economy, Trade and Industry (METI) registered XOOM Energy Japan as an Electricity Retailer in November 2016, making XOOM Energy the first foreign company to receive such registration in Japan.
“With our retail background and experience in North America, we look forward to offering Japanese consumers innovative products and competitive rates as the newly competitive market evolves in the coming months and years,” explains Ulry. "We have recently established an office in Tokyo and have assembled an experienced team to oversee operations directly in Japan,” he adds.
XOOM Energy Japan will begin servicing TEPCO residential customers in early 2017 with plans to expand into additional markets throughout the year. With the liberalization of energy in Japan, XOOM Energy Japan has positioned itself to be at the forefront of Japan’s emerging energy market.
About XOOM Energy, LLC
Based in Huntersville, North Carolina, XOOM Energy is a progressive, independent energy retailer that supplies natural gas, electricity and renewable energy to residential, small business and mid-market commercial customers in deregulated energy markets. XOOM Energy offers service through its wholly owned subsidiaries in 18 states, the District of Columbia, and Alberta, Canada, in 92+ utility markets across North America. To find out more, visit xoomenergy.com. For other inquiries, please contact [email protected].
About XOOM Energy Japan, GK
Based in Minatoku Hamamatsucho, Japan, XOOM Energy Japan, is a progressive, independent energy retailer that supplies electricity to residential customers in the liberalized energy market. XOOM Energy Japan offers service in the TEPCO utility market and has plans for further expansion in the Japanese market. To find out more, visit xoomenergy.co.jp.