NRG Energy's U.S. customer base expands by 30 pct with Dominion deal
HOUSTON, March 11
HOUSTON, March 11 (Reuters) - NRG Energy Inc's said its retail electric U.S. customer base will grow by 30 percent with Tuesday's agreement to acquire the retail power business of Dominion Resources Inc for an undisclosed amount.
Princeton, New Jersey-based NRG has about 2 million residential and commercial customers and will add more than 600,000 customer accounts served by Dominion and its Cirro Energy unit, a spokeswoman said.
Dominion's retail customers are in Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio and Pennsylvania.
Cirro Energy, which was purchased in 2008 by Dominion Retail, serves residential and business customers in Texas.
About 80 percent of Dominion's customer base is in the Northeast with the remainder in Texas, according to a spokeswoman.
"We are working to ensure that when the deal closes, the transition of Dominion customers to NRG is smooth and that it paves the way for our special brand of customized electricity plans," said Jim Steffes, president of NRG's Northeast retail business.
In Texas, NRG will continue to operate Cirro Energy under the Cirro name, which joins NRG's Reliant Energy and Green Mountain units, said Elizabeth Killinger, president of NRG Retail Texas.
Terms of the Dominion deal, expected to close by the end of March, were not disclosed.
Also on Tuesday, a U.S. bankruptcy court approved Edison International's plan of reorganization for Edison Mission Energy, a merchant generating unit, with power plants across the country.
Court approval will allow NRG to buy nearly 8,000 megawatts of coal, gas and wind generation from Edison Mission for $2.64 billion.
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