Overview, company details, product information, news, events, rankings and Associate listings for Stream Energy.
Original Npros business profile for Stream Energy, preserved below for archival purposes:
Stream (Stream Energy, Ignite Energy) was founded in 2004 by entrepreneurs Rob Snyder and Pierre Koshakji, as a retail energy provider offering electricity and natural gas service in deregulated energy markets. The company sold residential and business energy plans, including fixed-rate, variable-rate, and renewable energy options, and used MyStream.com as its customer-facing website for service enrollment, account access, billing, payments, renewals, and customer support.
Stream Energy's business became closely associated with Ignite, its direct-selling and network-marketing sales channel. Ignite used Independent Associates who could enroll energy customers and recruit other Independent Associates into the sales organization. The opportunity was built around marketing electricity and natural gas service rather than a conventional consumer product, with representatives earning from customer enrollments and sales activity within their organization.
In 2019, NRG Energy agreed to acquire Stream Energy's retail electricity and natural gas business for $300 million plus working capital in an all-cash transaction. NRG later reported the completed acquisition price as $329 million, including approximately $29 million in working-capital and other adjustments. The acquisition added approximately 450,000 customers and more than 600,000 Residential Customer Equivalents to NRG's retail energy business.
After the NRG transaction, Stream's direct-selling business was separated from the retail energy business and rebranded as Kynect. Kynect continued as an independent sales organization marketing energy, wireless, and other essential services. In 2021, ACN announced an agreement to acquire the assets of Kynect, which was described as formerly known as Stream Energy, and to combine Kynect Independent Associates with ACN's independent business-owner organization.
Stream Energy and Ignite were also the subject of major litigation over the direct-selling model. In the Torres v. SGE Management litigation, plaintiffs alleged that Stream and Ignite operated an illegal pyramid scheme in violation of RICO. The case produced significant appellate rulings over class certification and settlement issues, and a later Fifth Circuit decision noted that the settled class action involved approximately $10 million in attorneys' fees. The settlement resolved the litigation without a trial ruling that Stream or Ignite was an illegal pyramid scheme.
Stream has also faced utility regulatory scrutiny. In 2019, Stream SPE Ltd. agreed to pay an $85,000 administrative penalty in Texas after Public Utility Commission staff alleged violations involving payment-plan rules and nearly 4,000 improperly applied switch-holds on customer accounts between January 1, 2016 and October 9, 2017. The company agreed to cease the practice and release affected customers from similar holds.
The current MyStream.com site remains active for Stream Energy customers and offers electricity, natural gas, and renewable energy plans for homes and businesses. The current Stream retail energy business operates under the NRG Energy umbrella, while the former Stream/Ignite direct-selling opportunity continued separately as Kynect and was later absorbed into ACN's direct-selling organization.
Larry Mondry, CEO
Renée Hornbaker, CFO
Dan O'Malley, COO
Kelly Habbas, CIO
Rob Snyder, Co-Founder
Pierre Koshakji, Co-Founder
January 15, 2018 DALLAS--Stream (formerly Stream Energy), a leading direct selling company and provider of connected life services, celebrated the launch of one of its latest energy markets, Illinois, at Navy Pier in Chicago this weekend. Its salesforce of Independent Associates enjoyed a day of fun, personal development, business training and company updates, one of the biggest being the announce...
December 05, 2017 DALLAS--Stream (Stream Energy), a leading direct selling company and provider of connected life services, officially launched their line of Energy Services, in addition to Wireless, Protective and Home Services, in Delaware on Tuesday. This is the company's second energy expansion in 2017, following the opening of the Illinois market in September.
Delaware is the eighth st...
When we review a company, look for the Npros Business Certification. We add our certification only to companies we review that meet stringent criteria for reliability, experienced management, quality products, and what we believe to be a credible business model with a high probability of success for the company and company reps, distributors or associates.
Contact us for more information on having a home business certified by Npros.com.