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Spark Energy asks FERC to approve purchase of retail energy supplier HIKO

Spark Energy Inc. has filed an application with the Federal Energy Regulatory Commission to approve the purchase of retail energy supplier HIKO Energy LLC.

Under the transaction, completed March 1, Spark HoldCo LLC purchased a 100% ownership interest in HIKO Energy. The holdco is 62% owned by TxEx Energy Investment LLC and 38% owned by Spark Energy.

HIKO Energy serves retail load in states that have adopted retail electric choice. On rare occasions, HIKO Energy said in the March 13 application, it may sell power at wholesale when its supplier provides more energy than is needed to serve load. Spark Energy disclosed March 9, along with its release of quarterly earnings, that it acquired a retail electric provider with 29,000 residential customers equivalent, though it did not name HIKO at the time.

Spark Energy said in the filing that FERC approval was not obtained prior to closing due to an "oversight." The applicants have requested the commission's approval by May 12. (FERC docket EC18-69)