Stream Energy expanded its direct selling energy services to Delaware in December. The expansion provided Delaware customers with competitive energy rates. At the launch, prices were 2 percent below market price for the six-month plan and competitive rates were offered for the 12-month plan.
This expansion is the second expansion for Stream Energy in 2017. The first was in Illinois. The Delaware market marks the eighth state that Stream Energy provides services in. Stream Energy already offered services in Maryland, Pennsylvania, Texas, New York, New Jersey, Georgia, Illinois, and the District of Columbia.
Stream Energy started in 2005 as a simple idea to direct sell energy by word of mouth (Mystream). In 2014, Stream Energy integrated multi-level marketing into its business plan to help generate more customers. Stream Energy’s success came from the deregulation of utilities in Texas, which provided a free marketplace for Stream to compete. Many states have enacted legislation similar to Texas to deregulate utilities. The deregulation statutes allowed Stream Energy the ability to compete with public utilities by offering lower and competitive rates.
Stream Energy is now one of the largest direct selling company in the energy market. It has produced over $8 billion in revenue in the last decade. To help maintain its growth, Stream Energy appointed David Faranetta as its new Executive Vice President and Chief Financial Officer. He will oversee the financial operations of Stream. Faranetta has a history of leadership in the energy sector. He was the Senior Vice President and CFO for TXU Energy where profits increased by $30 million under his leadership. Stream Energy has chosen a strong leader to solidify its place in the market.
Stream Energy has grown to offer wireless phone service, virtual medical care, and home services. These services help customers stay connected while on the go. Although Stream Energy’s utility services are located in specific states, its other services can be accessed throughout the nation.