I Squared Capital

I Squared Capital Enters Into Exclusive, Strategic Partnership With Twenty First Century Utilities

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Charlie Rose interview

Twenty First Century Utilities

Larry Kellerman and Peter Corsell, the founders and managing partners of Twenty First Century Utilities, talk about their company’s business model and clean energy.

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Reinvigorating a Century Old Business Model

The Power of Efficient Capital
By Larry Kellerman

From Pearl Street Station to the solar array deployed on your roof. Th e common theme and challenge that the electric power industry has faced over the years is how to deploy massive volumes of capital to efficiently supply affordable energy to society… Read more

Industry Pioneer: The Road To Electric Utility Of The Future Is Paved With Prosumer Technology

In 2009, the U.S. government made the single largest investment ever in modernizing the U.S. power system. Nearly seven years and more than five billion in federal tax dollars later, the electric grid is technically a lot smarter than it used to be. So why do utility rates seem to be getting more – not less – stupid?

The smart grid was supposed to prevent – not promote – the use of mandatory fixed fees and non-bypassable charges in utility rates. According to a new report for the Consumers Union, utilities are asking regulators to approve precisely such dumb rate designs at the very moment that everyone expected them to be asking regulators to approve something closer to the opposite.

So what gives? Some folks say we need new utility business models. Other folks say we need new regulatory models. Still others say we should pay utilities more. There are even a few folks who think we need still more research. And then there is Larry Kellerman… Read More


NRG Proved How Tough It Is to Change. So Who’s Poised to Become the Utility of the Future?

After major changes at NRG, a reflection on who’s poised to radically change the electricity business
by Katherine Tweed

Less than a year ago, NRG laid the groundwork to be the Apple or Google of energy services. But CEO David Crane left the company last December amidst investor pressure — and Steve McBee, CEO of NRG Home, wasn’t far behind… Read more 


Tom Friedman Leads Panel On Impact of Paris Accords On Electric Utilities

Larry Kellerman participates in Pulitzer Prize winner and best selling author, Thomas Friedman’s, panel discussion on the impact of the recent UN Climate Conference in Paris and what it will mean for the U.S. Electric Utility industry and their customers. This program is sponsored by the National Press Club.

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Larry Kellerman: How to Make It Easy for Customers to Say Yes and Enable Great Energy Technologies to Make Sustainable Contributions to Society

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New York Is the Latest State to Join Worldwide War on Coal

Jennifer A Dlouhy & Jim Polson

Coal already has plenty of enemies, from global climate negotiators to market forces. Add New York to the list.

Governor Andrew Cuomo vowed this week to shut down all the state’s coal-fired power plants by 2020. The Empire State isn’t the biggest to make such a commitment — that would be California, where a mixture of legislation and lawsuits adds up to a timetable for phasing out coal. But Cuomo became the first governor to move out of the coal-generation business by administrative fiat.

“Regulation is working hand-in-glove with good old Adam Smithian economics to produce the right outcomes for our country,” Larry Kellerman, managing partner at Twenty First Century Utilities, a Washington-based energy investment firm, told a National Press Club panel in the capital. “King Coal is no longer King Coal.”

The once-dominant source of U.S. electricity is being edged out as a shale drilling boom makes domestic natural gas cheaper. It’s also more appealing to policy makers heeding calls for cleaner fuels. Last April was a turning point: For the first time, gas replaced coal… Read More


Twenty First Century Utilities Buys GridPoint

William Pentland

A 10-month old company just bought the erstwhile golden child of green technology as part of a plan to reinvent the 100-year-old utility business model.

On Friday, Twenty First Century Utilities, a company founded earlier this year by power industry veterans, acquired GridPoint, a data-driven energy management solutions provider based in Arlington, VA. The terms of the deal have not been disclosed publicly, but a press release stated that GridPoint would operate as a subsidiary of TFC Utilities going forward.

A few years ago, GridPoint was the hottest startup company in the cleantech stable.

GridPoint’s founder and Chairman, Peter Corsell, is also a founder and managing partner at TFC Utilities. Corsell served as the Chief Executive Officer of GridPoint from 2003 to 2010. The GridPoint acquisition is an opening salvo in TFC Utilities’ campaign to transform regulated utilities and facilitate wide-scale adoption of emerging energy technologies, including distributed energy and other behind the meter applications…. Read More

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GridPoint’s Buyer Has a Plan to Transform the Utility Industry

Andy Medici

Larry Kellerman wants to transform the energy utility industry — and he is raising $3.5 billion for the task.

Kellerman, a former Goldman Sachs executive, energy industry CEO, and current managing partner at the D.C.-based energy investment company Twenty First Century Utilities LLC, has already secured $500 million in equity to build the energy utility of the future.

To further that mission, Kellerman’s company bought the Arlington-based energy management company GridPoint in a deal that closed Oct. 28. He declined to disclose details of the transaction, citing a confidentiality agreement, but described the transaction as “a good deal” for TFC Utilities.

Kellerman and his partner at TFC Utilities, Peter Corsell, are intimately familiar with GridPoint. Kellerman was a GridPoint board member from 2006 to 2010. Corsell founded and led GridPoint as CEO from 2003 to 2010. Kellerman plans on incorporating GridPoint into the products and services his future utility will offer its clients….  Read More


In a Bid to Reimagine Power Delivery, TFC Utilities Buys GridPoint 

Robert Walton

Dive Brief:
  • A new entrant into the utility space has purchased GridPoint, a supplier of data-driven energy management solutions, in a first strategic step aimed at revamping the utility space, Greentech Media reports.
  • Twenty First Century Utilities LLC, which formed earlier this year, has plans to purchase a pair of regulated utilities with a goal of growing the use of clean, innovative demand management resources and renewable power.
  • TFC sees its business model as a “commercial accelerator” that will speed the acceptance of clean energy technologies through market use and acceptance.
Dive Insight:

Larry Kellerman, who Argus describes as a “power industry innovator,” launched TFC earlier this year. While his investing background is largely in merchant generation, Twenty First Century Utilities marks a new direction: Pushing the adoption of clean energy and demand management strategies.

In the company’s first acquisition, it has now purchased energy data company GridPoint in a move TFC said represents its commitment to behind the meter technologies…. Read More


Kellerman Lines Up Energy Management Acquisition

Twenty First Century Utilities, LLC, the company founded by former Quantum Utility Generation CEO Larry Kellerman, has agreed to acquire an energy management company.

The proposed deal, for GridPoint, marks the first acquisition by Twenty First Century Utilities, which Kellerman launched earlier this year.

Officials at GridPoint and Twenty First Century Utilities could not immediately be reached.

GridPoint provides energy management services to retailers, restaurants and commercial & industrial enterprises, as well as government and educational institutions…. Read More

Larry Kellerman: How to Make It Easy for Customers to Say Yes and Enable Great Energy Technologies to Make Sustainable Contributions to Society

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Q&A: Larry Kellerman, Twenty First Century Utilities

In his latest chapter in the power industry, Larry Kellerman is looking to wed utilities to the latest technology “It is something that, frankly, I have wanted to do for an extended period of time, which is to raise the capital and acquire one or more regulated utilities and optimize those utilities, as the name of the company suggests, by using state of the art technologies and commercial models,” Kellerman tells PFR in his first interview since launching Twenty- First Century Utilities in January. Senior Reporter Olivia Feld spoke to Kellerman about the company’s plans for acquisitions and his take on the future of the utility model in this exclusive. PFR: What is your plan for Twenty-First Century Utilities? Kellerman: The plan is simple. It is something that, frankly, I have wanted to do for an extended… Read More


The Battle Between Utilities and IPPs

Larry Kellerman, a veteran in the power sector’s world of asset acquisition and contract negotiation, spoke his mind about utilities and independent power producers, during a session at the Platts Global Power Markets Conference in Las Vegas on Wednesday, The focus of the Q&A was on what Kellerman called the “resurgence of the integrated utility model.” His primary argument was that there are today two diametrically opposed business models—regulated utility and IPP— and those two models are in running battles in virtually all of the 51 jurisdictions across the country. Kellerman began his career negotiating qualifying facility, or QF contracts for Southern California Edison in the late 1970’s. He was president of Citizens Power, and…  Read More

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