NRG Buys Retail Electric Business of Dominion, Assets of Edison Mission Energy
NRG Energy has entered into agreements with Dominion Resources to acquire its retail electric business. Dominion currently serves more than 600,000 customer accounts in Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio and Pennsylvania, and through its Cirro Energy brand in Texas.
Once completed, the acquisition will support NRG’s ongoing efforts to expand the company’s retail footprint in the Northeast and to grow its retail position in Texas.
NRG says customers should expect a seamless transition and no change in their service. The transaction is expected to close by the end of March.
In addition, the US Bankruptcy Court has approved Edison Mission Energy’s (EME) Plan of Reorganization and the related sale of substantially all of EME’s assets, including the equity interests in EME’s subsidiaries, to NRG Energy.
NRG says the acquisition of EME’s portfolio of renewable and conventional generation assets will make NRG the largest competitive US power company with about 53,600 MW of generating capacity.
NRG expects to close the transaction by the end of the Q1 2014, following FERC approval.
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