NRG Energy announced an agreement to purchase Texas Genco LLC for $5.8 billion, plus assumption of $2.5 billion of debt, writes utility analyst Sandy Cohen. This is the largest combination of Independent Power Producers (IPP's), or Power Merchants (depending on what label you wish to select), in the history of the industry.
There will be a conferecne call at 10 AM EST on Monday, October 3rd, 2005 to provide additional details.
Follow this link to NRG's press release on the acquisition: NRG's Press Release on Texas Genco Acquisition.
Though this transaction is obviously material, it is unconnected to the repeal of PUHCA, and not indicative of any trend towards consoidation in the REGULATED utility industry: Both these companies are unregulated, and Texas Genco is privately owned by private equity firms.
Related:
- All Utility Stock Blog articles on NRG Energy.
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