“North American Power is the most perfect reflection of everything that is important to me.”
- Kerry Breitbart (Co-Founder & CEO)
Mid-market company of the Week: North American Power
Kerry Breitbart started as a crude oil broker and worked his way up to President and CEO of United Companies. Breitbart departed corporate life, yet retirement did not mesh with his soul. Breitbart saw potential in the retail utility industry and, at age 59, he created North American Power.
North American Power supplies electricity (a percentage of which is generated using renewable sources such as wind and water) along the eastern coast of the United States. The company buys power in the wholesale market while delivering it at lower cost using the same utility’s own infrastructure. By combining customer referrals with direct sales, Breitbart created a vanguard concept in the retail electricity space. This “Network Marketing” allows customers switching to North American Power the ability to earn cash rewards through referrals. Today, North American Power has 260-thousand customers in nine states and growth prospects remain strong.
Breitbart says he has gone through a series of spiritual awakenings that formed the foundation for North American Power and his success as a CEO. Through these awakenings Breitbart came to realize that there was more to life than simply “getting back more than you put in.”
As for leadership, Breitbart says he has no ego because he is not foolish enough to believe it is “all me.” He states that he is not humble, but he is a very self-aware CEO. Breitbart says his duty is “enrolling people in my vision.” That vision, according to Breitbart, is to do business in a life supporting way.
Going forward, Breitbart sees continued opportunities for growth. Breitbart says that North American Power’s growth will be fueled by increasing consumer awareness of the retail electrical industry and on people’s desire to take their individual energy matters into their own hands.
This innovative approach to retail energy has resulted in triple digit growth for Breitbart and North American Power. Breitbart was named a finalist in for the Ernst & Young Entrepreneur of the Year Award 2013 (New York Region) and won the 2012 Gold Stevie from the American Business Awards for Energy & Utilities Executive of the Year.