Website mystream.com Founded 2004 Type of business Privately held | CEO Mark Schiro (Dec 2011–) Number of employees 245 (October 2012) | |
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Industry Retail electricity provision Key people Larry Mondry, CEO (2016) Headquarters Dallas, Texas, United States Profiles | ||
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Stream (Stream Energy) is a provider of energy, wireless, protective and home services. Stream was founded in 2005 as an American retail electricity and natural gas firm. The Company is headquarted within the Infomart building in Dallas. Stream Energy uses multi-level marketing as its primary sales channel. Initially the company recruited through its separate multi-level marketing division, Ignite, which was merged into the Stream brand in 2014. The majority of Stream's services are available across the United States, with the exception of energy, which is available in select deregulated energy markets.
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History
Stream Gas & Electric Ltd. (d/b/a Stream Energy) was founded in August 2005 after the deregulation of the Texas electricity market. Stream was licensed as a retail electrical provider by the Public Utilities Commission of Texas on 21 January 2005 and formally began operations through the initial enrollment of Texas electricity customers on 7 March 2005. The company has since expanded to sell energy in Georgia (2008), Pennsylvania (2010), Maryland (2011), New Jersey (2011), New York (2012), and Washington, D.C. (2012).
Multi-level marketing
In 2014 Stream merged its separately-branded multi-level marketing arm, Ignite, into the Stream brand. Substantively employing the same model as Excel Communications, Stream associates earn commission through the gathering of energy customers. They also earn income when the sales agents they recruit into the business gather a required number of energy customers. All money paid through the Stream sales organization is solely attributed to customer gathering activities.
Local meetings known as "Business Presentations" are held to promote the concept. Sales associates also maintain internet-based "homesites" that serve as informational web forums for recruits.
In 2010, the sign-up cost in Georgia was $300, with a $25 monthly fee to maintain a website. Associates typically received between $0.50 and $3 a month for each customer they recruited.
According to Stream Energy's income disclosure statement, among sales associates who maintained their position qualifications throughout calendar year 2013 and earned at least one commission or bonus payment (representing 84.5% of all sales associates), the average annual income was $686.90; for the majority (81.9%) of those associates, the average annual income was $117.12.
In 2016, Stream announced that Larry Mondry has been selected by the firm’s board of managers as its new president and chief executive officer, a role which he assumes immediately.