Stream Energy has announced the addition of David Faranetta as the new CFO. Faranetta has proven his knowledge and experience over the years in the energy field. The new CFO knows how to align personnel to best suit their strengths and the needs of a company and will bring that energy and motivation to Stream.
Stream’s finances, economic growth, and operations will be under the leadership of David Faranetta (GazetteDay). The CFO’s understanding of how finances, treasury, and management of financial operations are merged with knowledge of mergers, risk management processes, acquisitions, and regulations make him a valuable asset to the Stream executive team.
Stream is a direct-selling energy company. The Dallas-based energy provider was founded in 2005. The business operations model included direct-selling of energy. They work with consumers to give them connectivity that suits their lifestyles.
Stream Services (involving energy, wireless, protective and home services) offers energy to several states including Texas, Pennsylvania, New Jersey, Washington D.C., New York and Illinois. The rest of Stream’s services are available across the nation.
Stream uses clean energy utilizing solar, wind, and natural gas instead of coal. Their model is to go into the future as an environmentally conscious company that will meet the energy needs of the United States without harming the environment (https://thenewsversion.com/2018/01/stream-energy-making-a-difference/). With the deregulation of utility companies in 2001, companies like Stream have been given the opportunity to spread their wings and find innovation that will help both consumers with inexpensive energy and the environment by reducing carbon footprint. With David Faranetta in the position of CFO, Stream will be better suited to continue efficient operations and provide affordable and clean energy to their consumers.
The direct-selling model has provided Stream with an opportunity to develop new technology and sources of clean energy. With the vast open areas in west Texas, wind turbines, the sun, and natural gas have begun to power up many homes in Texas and beyond.
Clean energy is thriving because of its affordability. Since deregulation, natural gas sources have shown a 70% reduction, wind has declined by 58% and solar, considered the most expensive, still shows a 26% reduction from wind energy.