Ambit Energy's ambition is to sell more and more energy and take market share from major US utilities. Taking advantage of industry deregulation and employing direct selling techniques, Ambit sells electricity and natural gas to customers. The retail energy provider purchases energy at wholesale prices and resells it via a 500,000-member multilevel marketing system to 850,000 customers in half a dozen states in the MidAtlantic, Midwest, Southwest, and Northeast. It keeps costs low by using BlueNet, a proprietary automatic customer management system to manage accounts and process energy switching transactions.
Ambit provides retail residential and small commercial energy to specific markets in deregulated states.
It provides electricity-only in Maryland and Texas, and power and natural gas in Illinois, New Jersey, New York, and Pennsylvania.
Ambit uses direct selling techniques, the promise of lower bills, and green energy options to pull customers away from big utilities in states in which deregulation allows for competition. The company is eyeing expansion across all deregulated markets.
The company expanded into Pennsylvania Electric Company and PPL Electric Utilities territories in 2011, giving it access to more than 3 million residents in Central and Eastern Pennsylvania.
Ambit moved into Maryland in 2010, gaining access to Baltimore Gas and Electric's 1.2 million business and residential customers across Baltimore City and all or part of 10 central Maryland counties.
In 2010 Ambit also expanded its service into upstate New York's New York State Electric & Gas territory. The move gave it access to more than 870,000 electric and about 255,000 gas customers.
CEO Jere Thompson, grandson of 7-Eleven founder Joe Thompson, formed Ambit in 2006. Thompson brought a background in the deregulated telecom industry and other entrepreneurial adventures to the table. Chief marketing officer Chris Chambless co-founded the company with Thompson. – less
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