Texas, US-based direct energy seller Ambit Energy has expanded its presence to the Japanese market, as part of its international expansion plans.
Japan had fully deregulated its retail electricity market as on April, last year. This move from the government was considered as one of the largest single market deregulation in history.
The country has about 84 million residential and small commercial customers who represent a market of more than $70bn in annual revenue opportunity for Ambit.
For the new market, Ambit stated that it will offers its services in nine utility areas throughout Japan including Tokyo, Kansai, Chugoku, Chubu, Kyushu, Shikoku, Tohoku, Hokkaido and Hokuriku.
Ambit Energy co-founder and CEO Jere Thompson Jr. said: “Our expansion into Japan represents an unprecedented growth opportunity for Ambit. We are excited to introduce millions of new customers to our quality electricity services at attractive prices.”
Ambit Energy co-founder and chief marketing officer and Ambit Energy president Japan Chris Chambless, said: “When we founded Ambit more than a decade ago, we set out to become the finest and most-respected retail energy provider in America, and we are thrilled to bring that same commitment to excellence and customer service to Japan.”
The company was founded in 2006 and it provides electricity and natural gas services in deregulated markets in 16 states and Washington D.C.. The company has more than 12 million customers in the US and more than 400,000 independent consultants. It earned a revenue of more than $1.2bn last year.