IRVINE, Calif., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (OTCMarkets:UBRG), a publicly traded independent diversified energy company, in its plans for growth and expansion, announced that its subsidiary NDR Energy Group, is in the final stages of organization to open and launch its new electric power division. This new division is projected to generate $96 to $384 million in annual revenues, greater margins and profits for the Company.
The company is waiting for the final approval for its "power marketers" license from the Federal Energy Regulatory Commission (FERC), to become an electricity "Power Marketer", in a move that would position the company to engage in the buying and selling of electricity. FERC is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. NDR Energy Group would not own any generating or transmission facilities. However, as a "Power Marketer", it would take ownership of the electricity and would be involved in the interstate trade of electric power.
NDR Energy Group's President and CEO Ken Harris says, "The Power Division will operate from our offices in Houston. Our Houston staff has already done a remarkable job in leading the charge to make this division fully operational. We have already initiated discussions with a very large electric power company to obtain our supplies of electric power. Additionally, several of our electric utility partners are prepared for our entrance into this vertical. Immediately upon our approval and receipt of the FERC "Power Marketer" license, we will be fully operational, and ready to sell electric power. As I have stated repeatedly, diversifying our product offerings, while valuing the strength of our customer base, will provide us the platform for accelerated growth in sales volume and margins. In addition, we are progressing rapidly towards becoming a full-service energy company. This will provide us tremendous advantages as our country advances towards more diverse energy consumption in the coming years. We continue to position ourselves as a potential long-term player in the energy marketplace."
Vince M. Guest, Universal's President, states, We are very excited about the launching of the new electric power division. We will market and distribute bulk wholesale electric power to some of our electric utility customers, and our expanding customer base, including federal and state agencies, the U.S. military, municipalities and large commercial and industrial companies. NDR Energy will be able to offer integrated energy solutions that will assist its growing customer base to buy, manage and use electricity and natural gas. We believe, based on our preliminary sales forecasts, we may initially sell 100,000 MW per month, and then increase that to 300,000 to 400,000 MW per month. The current prices of electric power are $60 to $80 per MW. Based on sales of power at $80 per MW, this could potentially result in additional revenues of $96 to $384 million annually from the sales of electric power alone. Electric power sales could position us to generate greater margins, and solid earnings for the Company and create an energy powerhouse."
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
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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Source:Universal Bioenergy Inc.