Liberty Power CEO Delivers Keynote Address at East Austin Economic Summit.

David Hernandez offers Strategies for Small Business Success

FORT LAUDERDALE, Fla. -- In his keynote appearance in front of business and civic leaders at the 4th Annual East Austin Economic Summit on Saturday, Liberty Power CEO David Hernandez addressed the importance of entrepreneurial spirit in business as well as outlined the importance of competition in the energy sector. Hernandez, co-founder of Liberty Power, the fastest growing, independent, minority-owned retail energy provider in the United States, described how Liberty was able to grow to more than $100 million in revenue in fewer than four years.

The Summit, sponsored by PeopleFund, an organization that strives to promote lasting economic vitality for low-income people by implementing strategies that create jobs, provide safe and affordable homes, and promote good economic policy decisions for communities, brought together business leaders in a forum to discuss the rapidly evolving Texas economy, development initiatives and business opportunities.

Access to capital is a common challenge for many businesses. Small- and medium-sized businesses spend up to 50 percent of their fixed income costs on energy, and often energy expenses amount to one of the highest overhead costs businesses face - second only to leases. Since deregulation began in Texas, some small businesses have saved more than $800 a year by purchasing electricity from an electricity provider other than the utility.

As Texas officially ends the regulated "price to beat" cost structure on January 1, 2007, competition will enter the market and drive down energy costs, potentially by 15 percent. A recent study found that competition in the retail energy sector has brought more than $9.5 billion in total expenditures and has created more than 47,000 jobs in Texas. Additionally, since Texas deregulated, more than 2,000 megawatts of wind power generation have been added.

"Competition is vital to all markets, driving competitive pricing, reliability and better customer service. Competition in the energy sector will help the environment by creating an incentive for alternative forms of energy," Hernandez said. "But most importantly, competition creates choice in the market. Small businesses have historically been an underserved segment of the energy market. Liberty Power specializes in the specific needs of this group and helps our customers develop strategies that result in low-cost energy consumption."

Hernandez shared his own experience as a small business owner, launching Liberty Power after the fall of Enron and while the country was recovering from the attacks on September 11, 2001. Hernandez said that he saw an opportunity to sell low-cost energy to the underserved small business market. The company began selling power door to door in New York City and has since expanded into Texas, Maryland and the District of Columbia. Liberty now supplies power to more than 20,000 small- and medium-sized businesses.

Hernandez attributes Liberty's success to the strength of its management team. Founded by Hernandez, his brother, Eliezer, and Alberto Daire, Liberty Power's mission has been to solidify the team by hiring people who are "humble, hungry and smart" - a strategy that has yielded a highly motivated core of employees committed to the success of the company. The team is striving to achieve Liberty's next goal - reaching the $1 billion mark in gross revenues.

For more information on Liberty Power, please visit: http://www.libertypowercorp.com/mediakit.htm.

About Liberty Power

Liberty Power is the fastest growing independent energy retailer focused on business consumers in the United States. Enterprises, entrepreneurs and emerging businesses in high growth markets rely on Liberty for low-cost electricity and the best customer service. Liberty, the only national, minority-owned energy provider, has a singular focus on understanding the specific needs of business consumers and providing the electricity and services they need to succeed. Headquartered in Fort Lauderdale, Florida, Liberty services more than 20,000 business customers and numerous large enterprises in New York, Texas, Maryland and Washington, D.C, including Linens 'n Things and New York Life.

Liberty Power is certified and licensed by the Public Utilities Commission of Texas, the New York State Public Service Commission, the Maryland Public Service Commission, the District of Columbia Public Service Commission and by the Federal Energy Regulatory Commission. The company is also GSA, SBA, and SBA-8A certified.

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