IRVINE, Calif., Feb. 14, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (UBRG), a publicly traded independent diversified energy company, announced today that its subsidiary NDR Energy Group's new Electric Power Division is now fully operational and is preparing to start marketing electric power. On February 12, 2013, the Company announced NDR Energy received final approval for its "Power Marketing License" from the Federal Energy Regulatory Commission (FERC). With that approval NDR Energy could begin selling electric power immediately. Universal Bioenergy, forecasts that the sales of electricity is projected to generate an estimated $96 to $384 million in additional revenue for the Company.
The Electric Power Division will market and distribute wholesale electric power to its current electric utility customer base, and retail power to 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.
NDR Energy Group's President, Ken Harris says, "I'm very excited to announce that with the approval of the FERC Power Marketers License, NDR Energy's Electric Power Division could begin selling electric power within thirty days to our customers. Our sales team is prepared to engage in the marketing and sales of electric power to some of the largest utility companies in the country. Based on our preliminary forecasts, we believe we could initially sell an estimated 100,000 MW per month, and that could later increase to an estimated 300,000, to 400,000 MW per month. Electric power prices are presently in the range of $60 to $80 per MW. This division will allow us to diversify our energy product offerings and provide us with a foundation to rapidly accelerate our growth and increase our margins. NDR signed a Master Power Purchase and Sale Agreement with an electric power company to purchase wholesale electric power. We are in contract negotiations with two of the largest electric power utilities on the west coast to sell them electricity. We are working to consummate those agreements to begin our power sales. The Electric Power Division is fully operational and ready to sell power."
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