Utility Drive: NRG Energy advances retail expansion with $300M Stream Energy acquisition

NRG Energy has agreed to purchase Stream Energy's retail electricity and gas business, a move that will add more than 600,000 residential customer equivalents and expand NRG's market share in Texas, Pennsylvania and other markets. The $300 million all-cash deal is expected to close in the third quarter of this year, though it will require approval from Georgia regulators and the Federal Energy Regulatory Commission, and is subject to other requirements. NRG Energy is continuing to execute a plan to expand its retail business, with announced acquisitions adding almost 1 million customer equivalents to its service (each represents annual consumption of 1,000 therms of gas or 10,000 kWh of electricity). Read More.