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Goldman Sachs-backed firm applies to sell U.S. retail electricity contracts

Published 11/01/2023, 05:01 PM
Updated 11/02/2023, 12:35 AM
© Reuters. FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo
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(This Nov. 1 story has been corrected to remove inaccurate information and change sourcing from Public Citizen to Federal Energy Regulatory Commission, in paragraph 1)

(Reuters) - A company owned by Goldman Sachs' private equity arm, Rhythm Energy, petitioned the U.S. Federal Energy Regulatory Commission (FERC) in October to sell electricity, according to a filing with the regulatory agency.

If approved, Rhythm Energy, which is owned by Goldman Sachs’ West Street Capital Partners VII fund, would offer retail electricity contracts, according to the filing dated Oct. 16.

© Reuters. FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo

On Oct. 24, the FERC approved applications by Goldman Sachs-owned J. Aron & Company LLC to control GenOn's fleet of fossil fuel power facilities out of bankruptcy, according to a FERC filing.

Both of the public filings were cited in a Nov. 1 press release by consumer rights group Public Citizen.

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