NRG Energy Acquiring Yet Another Book Of Texas Electric Customers
Third Reported Book Acquisition Since Late May (In Addition To Stream Transaction)
September 24, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Updated: 6:05 pm Sept. 24
NRG confirmed that it has purchased the customer accounts of Circular Energy
NRG told EnergyChoiceMatters.com that residential customers will be served by Discount Power. Small business customers will transition to Cirro.
Cirro Energy, an NRG Energy company, has purchased a book of retail electricity customers from Pro Power Providers, LLC d/b/a Circular Energy.
Cirro Energy will honor all current customer contracts and agreements with Circular Energy. There are no changes to the customer’s current contract or electricity service plan. The customer's current rate, term, and terms of service will remain the same
A letter from Cirro and Circular Energy to brokers states, "Circular Energy will not transact any new customer sales or deals."
Circular Energy will continue to participate in renewal opportunities for customers until Cirro Energy begins serving the customers.
Customer transfers are anticipated to occur in October.
EnergyChoiceMatters reached out to market veteran Preston Ochsner of Ochsner Interests, Inc., who is active in retail energy M&A, concerning the transaction. Ochsner confirmed that he did represent Circular Energy but referred all inquiries to NRG.
The acquisition of the Circular Energy book is at least the third book purchase for NRG since late May, following the purchase of customer books from LifeEnergy (story here) and American Light & Power (story here), both of which had been exclusively first reported by EnergyChoiceMatters.com
NRG also closed on its previously reported acquisition of Stream's retail energy business on August 1.