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Calpine, LS Power Among Notable Players for First Choice Power Book
July 8, 2011
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Calpine and LS Power, as well as several usual suspects, are reportedly among the parties providing indications of interest for the first round of the auction of First Choice Power by PNM Resources (see 6/10).
A source familiar with process spoke with Matters regarding interested parties confidentially, due to the proprietary nature of the process.
As expected, given their statements about seeking retail acquisition opportunities, both Centrica and Constellation Energy are reportedly participating in the First Choice Power auction process. NRG Energy, which has already acquired two books in ERCOT, is also among the players in the auction.
Additionally, Calpine is also reportedly a serious contender for the book. Calpine is the largest ERCOT generator without its own retail load obligations, with 7,200 MW of capacity across 12 power plants.
LS Power, another generator which also has no retail obligations in ERCOT, is another reported player. LS Power, through an affiliate, recently took a minority stake in Twin Eagle Resource Management, LLC, which is currently seeking a Texas REP certificate (see 6/24) and is engaged in wholesale pwoer and gas marketing.
Several major utilities as well as private equity firms, some of which have no prior involvement in competitive retail markets nationally, are also seen as expressing interest, though our source could not definitively identify these parties.
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