IRVINE, Calif., July 2, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, in its plans for growth and expansion, announced today that its subsidiary NDR Energy Group, has established a new division to market and distribute wholesale electricity throughout the U.S. to generate increased revenues and profits. Universal already markets and distributes natural gas, propane, petroleum and coal, and now it will expand into electric power.
The new division will market and distribute bulk wholesale electric power to its current electric utility customer base and its expanding customer base which will include federal and state agencies, U.S. military, cities, municipalities and large commercial and industrial companies. NDR Energy Group will be able to offer integrated energy solutions that will assist its growing customer base to buy, manage and use electricity and natural gas.
Electricity is often generated by an electric power utility that will not deliver it to the ultimate end user or customer. A single megawatt (MW) of electricity can typically provide enough power to light 750 to 1,000 homes. Electricity is a commodity like oil, gas, coal, and coffee, and it is often bought, traded and re-sold many times before it is finally consumed by the end user. These transactions make up the wholesale electricity market and are considered "sales for re-sale".
The U.S. Congress passed laws in the 1980's to make it possible for independent companies and power marketers to engage in wholesale power sales and energy trading, as electric utilities began to share grids and buy and sell electricity from one another. Due to the interstate nature of the sales, the wholesale market is regulated across the country by the Federal Energy Regulatory Commission (FERC).
NDR Energy Group's President Ken Harris says, "I am happy to announce our development of a new power division at NDR. Mike Duvall, who now manages our Houston office, is an expert concerning power and electric transactions. Mike is a perfect partner as we leverage our current relationships with some of the largest utility companies in the country to engage in power and electric marketing and sales. As we increase our volume and sales concerning base load natural gas transactions, it is critical that we have the vision to diversify and exploit new opportunities as they present. It is a natural progression for NDR to move into power and electric sales."
Universal's President Vince M. Guest states, "Universal is constantly exploring new ways to be innovative, and develop new products and services to generate more revenues and profits. This new electric power division is a direct result of our intent to improve our business model, expand the Company and bring more value to our shareholders. The new electric power division will be run out of NDR Energy Group's new offices in Houston. Our goal is to be one of the largest independent diversified energy companies in the U.S. We believe this is another major step in our efforts to meet that objective."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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