Puleo Energy granted PUC license.
Leoco Financial LLC d/b/a Puleo Energy was granted an Electric Generation Supplier license and a Natural Gas Supplier license to be a broker/marketer by the Pennsylvania Public Utility Commission.
Philadelphia, PA, June 19, 2020 - Puleo Energy, a Fort Washington-based energy firm, announced today that it was awarded with both an electricity and natural gas broker/marketer license by the Pennsylvania Public Utility Commission. The licenses allow Puleo Energy to negotiate the purchase of electricity and natural gas on behalf of small commercial, large commercial, and industrial clients in the PECO and Philadelphia Gas Works territories.
“This is a big step in the right direction for our company. After my previous legal troubles, I was granted approval to operate as a sub-contractor of a licensed brokerage company, and we have been doing so successfully since early 2016. Although we will continue to operate in this fashion, being granted a license allows us to market under the Puleo Energy brand and gives the company more credibility in the marketplace,” says Samuel Puleo, President of Puleo Energy.
Mr. Puleo started his energy career in 2010 at 23 years of age. In 2011, he co-founded Coastal Energy Consultants, a national energy consulting and brokerage firm, where he experienced a lot of growth, and with that growth came troubles. In 2013, he was federally indicted for his role in an energy pricing fraud where Mr. Puleo was ordered to serve prison time and repay $819,000 in restitution.
“I am very remorseful for my past actions. I lost my moral compass in my early twenties and spend every day trying to rebuild my reputation. I have been upfront about my past with my new customers since re-entering the energy business, and that has produced some very authentic relationships. Getting this license is a good step towards redeeming myself, but it is a small step. I still have a significant amount of restitution to pay and I am hoping I can satisfy that in the near future with the profits from Puleo Energy,” said Puleo.
Puleo Energy will actively operate in the Philadelphia region. The company plans on expanding to the PPL and Met-Ed service territories by the end of 2020.