VPER News .0018 VIPER NETWORKS INC
Symbol U : VPER
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Aequitas Energy and Viper Networks Featured in Energy Industry Story Reporting on Application for Market-Based Rate Authority at FERC
2012-06-25 07:55 ET - News Release
DETROIT, June 25, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), a minority owner of Aequitas Energy, is pleased to announce that Aequitas Energy, Inc. has applied for market-based rate authority at the Federal Energy Regulatory Commission (FERC) as part of its establishment of a retail energy supply operation.
As reported by Energy Choice Matters, two entities currently share ownership of Aequitas, with Aequitas Energy's president holding ninety (90%) ownership and Viper Networks, Inc. (the company), with ten percent (10%).
Viper Networks holds first right of refusal for additional investments that would likely increase its ownership percentage later in 2012 and beyond.
An earlier Viper Networks news release stated that, "Aequitas Energy's highest priority is to complete all licensing requirements and connection testing in an expedient manner, which is estimated to take approximately 4 to 5 months."
Projected retail market entry is December 2012.
As stated in a previous Viper Networks' press release, Aequitas Energy is gearing up for rapid growth in the residential and commercial markets in Connecticut and Massachusetts, and also expects to expand to natural gas in the near future.
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