NRG Energy signs definitive agreement to acquire Energy Plus

18 August 2011 (Last Updated August 18th, 2011 18:30)

NRG Energy has signed a definitive agreement to acquire Energy Plus for $190m in cash. The acquisition will provide NRG with an effective retail platform to expand its customer services and products in multiple retail markets. Philadelphia-based Energy Plus is a retail company

NRG Energy has signed a definitive agreement to acquire Energy Plus for $190m in cash.

The acquisition will provide NRG with an effective retail platform to expand its customer services and products in multiple retail markets.

Philadelphia-based Energy Plus is a retail company selling electricity in Texas and natural gas in New York and New Jersey, US.

Closure of this transaction is expected to take place in October, subject to the receipt of regulatory approvals from the US Department of Justice and the Federal Energy Regulatory Commission.