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StarTex Looks to National Expansion After Constellation Acquisition
May 30, 2011
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StarTex Power hopes to quickly expand nationally after its acquisition by Constellation Energy, which closed last Friday, StarTex CEO Bob Zlotnik told Matters.
As first reported by Matters, StarTex was acquired by Constellation for $142.5 million on Friday (see 5/27)
Zlotnik said that StarTex's broker and indirect sales channels have been asking for service in other states in addition to Texas, describing the request as a "roar" in recent months as conditions in several markets have become more favorable for competitive energy supply.
While Zlotnik would like to be in new markets tomorrow, he said that a measured approach would be taken, although he still hopes to see the initial expansion occur within the next month.
Zlotnik said that specific markets have not been selected yet, and would be chosen in concert with Constellation over the next week or so.
National expansion would be for both residential and small commercial service, in addition to serving national accounts of current StarTex Power customers in ERCOT, Zlotnik said. An open question is how much the StarTex brand works outside of ERCOT, Zlotnik noted.
Zlotnik confirmed that StarTex management will remain in place after the acquisition, and that StarTex will continue its current strategy and segmentation (particularly its nodal protection products and high-touch customer service). As indicated Friday, the StarTex brand name will continue as well.
Zlotnik said that no definitive decision has been made yet in terms of integrating any Constellation generation into StarTex's retail book.
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