Commerce Energy Provides Update on ACN Arbitration
May 16 2007 - 6:47PM
Business Wire
Commerce Energy Group, Inc. (AMEX:EGR), a leading U.S. electricity
and natural gas marketing company, said today that a panel of
arbitrators has ruled in favor of American Communications Network,
Inc. (ACN) on its breach of contract claim related to commissions
owed to ACN sales agents under the sales agency agreement between
ACN and Commerce Energy, Inc., a wholly owned subsidiary of
Commerce Energy Group. The panel ruled that ACN is entitled to
commissions payable to its sales agents under the contract accruing
from and after its termination in February 2006. The hearing of
this arbitration has been bifurcated into two phases: a
determination of liability phase, which has now concluded, and a
damages phase, which is scheduled to occur on July 9, 2007. �While
we disagree with the panel�s ruling, we are pleased to have this
dispute drawing to a close,� said Steven S. Boss, chief executive
officer. �As we put this chapter behind us, we look forward to
Commerce Energy�s continuing growth and prosperity.� About Commerce
Energy Group, Inc. Commerce Energy Group, Inc. is a leading
independent U.S. electricity and natural gas marketing company,
operating through its wholly-owned subsidiaries, Commerce Energy,
Inc. and Skipping Stone Inc. Commerce is publicly traded on the
American Stock Exchange (AMEX) under the symbol: EGR. Commerce
Energy, Inc. is licensed by the Federal Energy Regulatory
Commission and by state regulatory agencies as an unregulated
retail marketer of natural gas and electricity to homeowners,
commercial and industrial consumers and institutional customers.
Headquartered in Orange County, California, the company also has an
office in Dallas, Texas, as well as several area offices located
around the U.S. For nearly a decade, customers have relied on
Commerce to deliver competitive pricing, innovative product
offerings and personalized customer care in addition to quality gas
and electric services. For more information, visit
www.CommerceEnergy.com.
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