LAGUNA BEACH, CA and SANTO DOMINGO, DOMINICAN REPUBLIC--(Marketwired - Jun 14, 2013) - Greg Michaels, Chairman of SCT&E, and CEO of its subsidiary North Energy Central (NEC), spent the last week in the Dominican Republic on a highly fruitful business trip where he met with investors and financiers to discuss the US$2 billion vertically integrated energy projects. During the same trip, Mr. Michaels attended a Gas Summit and Round Table for the present and future needs of Natural Gas in the Dominican Republic and Latin America. NEC was featured in an article on the cover of "GAS Magazine Latinoamérica," a well-known industry magazine presented at the Gas Summit.
Mr. Michaels' vision of a vertically integrated gas solution was welcomed as a "breath of fresh air" by many government officials and business leaders seeking relief from the pending energy crisis facing the Dominican Republic. Recently, the cost of energy has risen dramatically for the country and the Caribbean in general. With LNG contracts secured, SCT&E has provided the Dominican Government with a real solution, answering the need for greater access to cheaper energy. Additionally, Michaels is in negotiations with various gas generation and distribution companies in the region for the purchase of the LNG contracts the company controls.
While in the Dominican Republic, Michaels had prosperous discussions with financial organizations interested in the development of the vertical integration of: a US LNG Export Terminal, shipping of US LNG to the Dominican Republic, an LNG storage terminal, and a 400 MW LNG power plant to be located in the northwest corner of the Dominican Republic near Manzanillo. The integration of these projects is expected to exceed an investment of USD$2 billion. Michaels was asked on Thursday about the vertical integration solution and stated, "Vertically integrating these projects creates a control of the LNG supply chain through generation delivering energy at prices that are predictable, stable, and reliable over 20 years or longer."
About North Energy Central (NEC):
NEC is a spinoff of ESA Associates Inc., a Design, Engineering, and Development firm of medium-to-large energy generation facilities. SCT&E acquired a majority interest in NEC that accelerated SCT&E plans to build electric generation in both the United States and abroad. With over forty years of expertise and operation of eighty power generation projects to the world's electric power markets, NEC is a perfect fit. A subsidiary of SCT&E, NEC engineers have completed, designed and retrofitted old and built new power projects totaling 8,800 megawatts valued at about USD$5 billion.
About Southern California Telephone & Energy (SCT&E):
Southern California Telephone Company, dba Southern California Telephone & Energy, is a spin-off of Wholesale Airtime, Inc. established in 1994 by Founder and CEO, Greg Michaels. In simple terms, SCT&E is a vertically integrated Telephone and Energy Company, offering discounted Legacy Voice, Data, Wi-Fi, VoIP, SIP, Cable Telephone, and Telephone Services. The company also provides renewable energy and energy efficiency solutions, thus blending the world of utility mediums. Additionally, SCT&E is involved in international energy generation and oil and gas projects.
Subsequent to the 1996 deregulation of the telecom industry in the United States, SCT&E took advantage of the opportunity to become a privately held, facility-based Competitive Local Exchange Carrier (CLEC) and utility under the CPUC. In addition to its CLEC status, SCT&E is also a Certified Long Distance Carrier (IXC), and a Wireless Internet Service Provider (WISP). SCT&E has one of the largest privately-held, fixed wireless, or Wi-Max, networks in California. The company has multiple locations, with its corporate office located in Temecula, California. SCT&E owns and operates a redundant telecommunications network with switches and facilities on both coasts of the United States.
SCT&E is a California Electric Service Provider (ESP) and has Federal Energy Regulatory (FERC) Authority allowing the company to buy and sell energy nationwide in both the wholesale and retail markets in the USA. Its Energy Division affords consumers the ability to invest in renewable energy systems to include PV Solar and its US non-provisional patent Virtual Power Plant® and US provisional patent-pending Battery Energy Reservoir™.