Houston Chronicle by L.M. Sixel July 24, 2020
NRG Energy, one of the biggest electricity sellers in Texas, said Friday that it will buy Direct Energy from U.K.-based Centrica for $3.6 billion in cash, a move that would further consolidate the retail power market.
Direct Energy is the third-largest seller of electricity in Texas, representing about 10 percent of the market. The deal will add 3 million retail customers to NRG in the United States and Canada.
NRG said the deal will broaden its presence in markets where it doesn't currently operate. It didn't immediately specify where the new markets would be.
NRG, which is headquartered in Houston and Princeton, N.J., has been buying competitors in Texas and jockeying with Vistra Energy to be the No. 1 seller of power. Vistra also has been on a buying spree, snapping up Crius and Ambit last year.
More:
https://www.houstonchronicle.com/business/energy/article/NRG-is-buying-Direct-Energy-in-all-cash-deal-15431324.php
