NewswireToday - /newswire/ - Dallas, TX, United States, 06/10/2007 - Ambit Energy, a Retail Electricity Provider based in Dallas, announced today that it has entered into a multi-year electric supplier agreement with Coral Power, LLC (“Coral”), a member of the Royal Dutch Shell plc group of companies.

Under the new multi-year contract, Coral will supply electricity to Ambit Energy to serve residential customers in Texas, New York and other targeted expansion markets.

“In line with our vision to become the finest and most respected energy services provider in the country, this agreement with Coral positions us for tremendous growth and stability as we expand our business in Texas, New York and soon other deregulated markets,” said Ambit Co-founder and CEO Jere Thompson, Jr. “Our business relationship with Coral is yet another step towards realizing our corporate vision."

“Ambit is now strategically positioned to provide our rapidly growing base of customers in Texas and New York with competitive rates and incredible value for years to come,” said Chris Chambless, Ambit Co-founder and Chief Marketing Officer. “We believe that by partnering with one of the largest suppliers of electricity and natural gas in North America, we have enhanced our ability to enter new markets, which in turn expands growth opportunities for our Consultants as we continue to educate consumers about the benefits of deregulation in the markets we serve.”

About Ambit Energy
Based in Dallas, Texas, Ambit Energy, L.P. is a Retail Electric Provider (REP) in Texas, and an Energy Services Company (ESCO) in New York. Ambit provides electricity services to residential customers in deregulated Texas and New York markets. Ambit acquires customers through a network of independent consultants.

About Coral
Shell Trading is a global business network integrating the worldwide energy trading activities of the Royal Dutch Shell group of companies, of which Coral Energy Holding L.P. and its subsidiaries are an integral part. With headquarters in Houston, Texas, and trading and marketing offices located across North America, Coral Energy offers a comprehensive portfolio of energy-related products and services associated with natural gas and power marketing and trading. Coral Energy markets and trades natural gas, wholesale power and risk products with counterparties and customers across North America. Its customers include commercial and industrial end users, utilities, producers, generators and aggregators.