March 8, 2012
Connecticut-Based Supplier Community Power & Utility LLC to be Sold
Community Power & Utility LLC, a retail electric supplier based in Brookfield, Conn., informed FERC that it is in the process of selling itself.
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Mergers, Acquisitions & Finance
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March 5, 2012
Briefly
Direct Energy Cites Cross-Sell Potential in Completing Acquisition of Home Warranty of America
March 5, 2012
Constellation Energy Statement: MXenergy Transfer of Post-Pay Accounts to StarTex "Completely Unrelated" to PUCT Audit
In response to Matter's March 2 story concerning MXenergy's decision to transfer post-pay customers in ERCOT to affiliate StarTex Power, and an audit settlement at the PUCT which made reference to the transfer, Constellation Energy issued the following statement to Matters:
March 1, 2012
Choice Energy Services Acquires Equus Retail
Choice Energy Services announced that it has acquired Equus Retail.
February 27, 2012
PPL Acquiring Combined Cycle Plant from AES
PPL Corporation announced this morning that PPL Generation, LLC, its competitive generation subsidiary, agreed to acquire AES Ironwood, L.L.C. and AES Prescott, L.L.C., which together own and operate the 705-megawatt AES Ironwood combined-cycle natural gas-fired power plant in Lebanon, Pa., from a…
February 21, 2012
Fortis to Acquire Central Hudson Gas & Electric, Parent
CH Energy Group, Inc., the parent of Central Hudson Gas & Electric, announced this morning that it has entered into a definitive merger agreement with Fortis Inc., under which Fortis will acquire CH Energy Group for an aggregate purchase price of approximately $1.5 billion, including the assumption…
February 20, 2012
Maryland PSC Adds Market Power Conditions in Approving Exelon-Constellation Merger
The Maryland PSC conditionally approved the merger of Exelon and Constellation Energy on Friday, with additional provisions relating to market power.
February 16, 2012
Nstar, NU Reach Merger Agreement with DOER, Attorney General
Nstar and Northeast Utilities said yesterday that they have reached separate, comprehensive merger-related agreements with both the Massachusetts Department of Energy Resources (DOER) and the Massachusetts Attorney General (AG).
February 10, 2012
Just Energy Reports Higher Gross Margin
Just Energy reported a 5% increase in gross margin from retail energy marketing, which helped grow company-wide Adjusted EBITDA for the quarter ending December 31, 2011 to $88.5 million, versus $76.8 million a year ago (all figures Canadian).
February 10, 2012
M&A Team of AEG Affiliated Energy Group Closes 3 M&A Deals in Past 9 Months; Expects More in Coming Quarters
AEG Affiliated Energy Group has closed three mergers and acquisition deals specifically in the retail energy space in the past nine months, and expects more deals to close in the next two quarters.
February 1, 2012
Frontier Utilities Acquired by Group Led by Quintana Infrastructure & Development, Targets Growth
Frontier Utilities, LLC, has been acquired by a group of independent Texas-based investors led by Quintana Infrastructure & Development LLC and Jay D. Hellums, an industry veteran.
January 30, 2012
Algonquin Power & Utilities to Withdraw from First Wind Holdings Investment
Algonquin Power & Utilities Corp. said that it plans not to proceed with the previously announced investment in First Wind Holdings, LLC's wind portfolio in the Northeast United States, citing the ongoing regulatory review in Maine.
January 30, 2012
NextEra Customer Supply, Trading Business Reports Lower Earnings
The contribution from NextEra Energy's customer supply businesses and proprietary power & gas trading activity to parent-level adjusted earnings was down by approximately $4 million for the fourth quarter of 2011, versus the year-ago quarter, NextEra said in reporting earnings Friday.
January 30, 2012
Enova Energy Group Acquires American New Energy
Enova Energy Group, an independent power producer of clean energy projects, has acquired a majority interest in American New Energy, an energy procurement and management consultant, Enova Energy Group confirmed Friday.
January 25, 2012
Guest Commentary: Stephens' Justin Courtney on Retail Supplier M&A, Capital Markets
The following commentary is provided by Stephens Inc. Investment Banker Justin Courtney on the state of the REP capital markets. All views and opinions expressed herein are solely those of the author
January 20, 2012
Md. PSC Staff: Exelon-Constellation Settlement with State Addresses Market Power Concerns
A settlement among Exelon, Constellation, and Gov. Martin O'Malley, which includes requirements for Exelon to build up to 300 MW of new in-state generation (see 12/12) , "adequately address all of the market power concerns," raised in prior PSC Staff testimony, Staff said in supplemental testimony…
January 20, 2012
Twin Eagle Resource Management Acquires Energy Marketer Enserco
Twin Eagle Resource Management, LLC, which is engaged in various marketing activities including retail supply, has announced a definitive agreement to purchase all of the outstanding stock of Enserco Energy, Inc., a natural gas, power, coal, and crude oil marketing company, from Black Hills Corp.
January 19, 2012
Conn. Rules NU-Nstar Merger Requires PURA Approval
Northeast Utilities shall not consummate its proposed merger with Nstar unless and until the Connecticut PURA has issued a final decision approving the merger, PURA ordered yesterday.
January 17, 2012
Briefly
EDF Withdraws Opposition to Merger Under Agreement with Constellation-Exelon
January 10, 2012
Cirro Energy Acquires Assets of Kinetic Energy
Cirro Energy has acquired the assets of Texas retail electric provider Kinetic Energy.
January 5, 2012
AEP Retail Energy to Acquire BlueStar Energy Solutions
AEP Retail Energy announced this morning that the company has reached an agreement to acquire BlueStar Energy Holdings Inc. and its independent retail electric supplier BlueStar Energy Solutions.
January 5, 2012
Ecova to Acquire LPB Energy Management
Ecova, f/k/a Advantage IQ, today announced the planned acquisition of LPB Energy Management (LPB), a privately held energy management company headquartered in Dallas, Texas.
January 4, 2012
Siemens Expands to Energy Procurement with Pace Global Acquisition
Siemens Industry, Inc. announced today that it has completed the acquisition of Pace Global Energy Services, LLC in Fairfax, Va.
January 3, 2012
AES Eastern Energy Limited Partnership Declares Bankruptcy
AES Eastern Energy Limited Partnership (AES Eastern Energy) and 13 affiliated entities have filed petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware.
January 3, 2012
Direct Energy Acquires Vectren Source
Direct Energy has acquired Vectren Source from Vectren Corporation for $39 million in cash, plus additional working capital.