Ambit Energy

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Ambit Energy
Industry Energy
Genre Retail electricity and natural gas provider
Founded 2006
Headquarters Dallas, Texas, United States
Area served TX, IL, NY, MD, PA, NJ, CT, MA, CA, DE, RI, NH, VA and Washington D.C.
Key people Jere Thompson Jr. (Co-Founder & CEO), Chris Chambless (Co-Founder & CMO), John Burke (CIO), Laurie Rodriguez (CFO)[1]
Revenue USD $ 1 Billion (2013)[2]
Employees 492 (2013)[3]
Website ww2.ambitenergy.com

Ambit Energy is a United States multi-level marketing[4] company that provides electricity and natural gas services in energy markets in the U.S. that have been deregulated.[5] The company's corporate headquarters are located in Dallas, Texas, and its operations/call center headquarters are located in Plano, Texas. Ambit Energy was founded in 2006 in Addison, Texas by Jere Thompson Jr. and Chris Chambless.[6]

Business model[edit]

Ambit Energy obtains customers through a network of independent consultants who work directly with the customers. Ambit Energy uses a multilevel marketing model and is a member of the Direct Selling Association of America, a public relations and lobby organization that represents the interests of multilevel marketing companies is the United States.[7]

Ambit Energy was named 2010’s Fastest Growing Privately Held Company by Inc. Magazine.[6] The company placed 390 in 2011,[3] and 1,996 in 2013.[8]

Criticism from consumer advocates[edit]

Ambit Energy came under scrutiny from regulators and consumer advocates. In New York, state officials and consumer groups have claimed that sales representatives, who are paid by commission, have misrepresented contracts, exaggerated financial benefits of membership, and been excessively aggressive in recruiting vulnerable groups such as the elderly and non-native English speakers.[4]

Carol Biedrzycki, of the consumer organization Texas ROSE, has said that Ambit Energy representatives are more focused on marketing than on providing service.[9] Biedrzycki has also criticized Ambit and some other Texas energy providers for charging excessive connection and disconnection fees.[10]

Markets[edit]

Ambit Energy provides energy in 14 areas, all of which have deregulated energy markets. Ambit operates in California, Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Texas, Virginia and Washington, D.C..[11]

References[edit]

  1. ^ Ambit Energy. "Ambit’s Leaders | Ambit Energy". Ww2.ambitenergy.com. Retrieved 2014-05-17. 
  2. ^ "The Road to $1 Billion — Direct Selling News". Directsellingnews.com. 2014-04-01. Retrieved 2014-05-17. 
  3. ^ a b Ambit Energy - Dallas, TX Inc.com
  4. ^ a b Belson, Ken (31 August 2008). "An Alternative to Con Ed Revs Up Its Sales Force". The New York Times. Retrieved 4 February 2014. 
  5. ^ Ambit Energy. "About Ambit Energy | Ambit Energy". Ww2.ambitenergy.com. Retrieved 2014-05-17. 
  6. ^ a b As told to Darren Dahl (2010-09-01). "Meet America's Fastest-Growing Company: Ambit Energy | Inc. 5000". Inc.com. Retrieved 2014-05-17. 
  7. ^ Ambit Energy public profile - Direct Selling Association
  8. ^ "Ambit Energy - Dallas, TX". Inc.com. Retrieved 2014-05-17. 
  9. ^ Gearino, Dan (21 June 2010). "Energy marketing is suspect, critics say". Columbus Dispatch. Retrieved 1 March 2014. 
  10. ^ Lieber, Dave (10 August 2013). "The Watchdog: Texas electricity companies profit from fees that some call ‘money for nothing’". Dallas Morning News. Retrieved 1 March 2014. 
  11. ^ "Service Areas". Ambit Energy. Retrieved 1 March 2014. 

External links[edit]