May 9, 2012 | last updated June 1, 2012 2:26 pm

CT power retailer sells 30% of biz for $1M

New Haven electricity retailer Aequitas Energy will sell 30 percent of its business to a Detroit clean energy firm.

Viper Networks of Detroit signed a letter of intent with Aequitas in May to purchase nearly one-third of its business.

As part of Connecticut's deregulated market, Aequitas sells electricity to utility ratepayers who want to contract with a business other than the utility, such as Connecticut Light & Power, for the generation portion of their bill.

Aequitas plans to expand to other deregulated markets in other Northeast states and also plans to enter the deregulated natural gas market in the near future.

Viper Networks, which sells energy efficiency technology, wanted to buy part of Aequitas to create synergies with its suite of products, as well as enter the energy retail market.

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