November 1, 2011
World Energy Solutions Acquires GSE Consulting
World Energy Solutions, Inc. announced this morning that it has purchased GSE Consulting, LP for approximately $8.6 million at closing plus a potential earn-out.
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Mergers, Acquisitions & Finance
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October 31, 2011
Constellation Enjoying Higher Margins from Wholesale Business as Retail Space Becomes Crowded
Constellation's NewEnergy segment reported adjusted earnings of $46 million for the third quarter, reversing a year-ago loss of $14 million, on strong results from wholesale load serving contracts, and the absence of year-ago charges.
October 24, 2011
Entergy to Purchase Rhode Island State Energy Center from NextEra
Entergy Corporation announced this morning that it has reached an agreement with a subsidiary of NextEra Energy Resources, LLC to acquire the Rhode Island State Energy Center, a 550-megawatt power plant located in Johnston, Rhode Island, for approximately $346 million, subject to closing adjustments…
October 17, 2011
Briefly
World Energy Solutions Purchases Northeast Energy Solutions
October 13, 2011
Exelon, Constellation Oppose Additional Maryland Renewable Obligations as Condition of Merger
Exelon and Constellation Energy rejected several conditions sought by intervenors in their merger proceeding before the Maryland PSC, including proposed requirements that the merged company's Maryland sales be subject to a higher in-state renewable energy obligation, and proposals to limit the…
October 12, 2011
Algonquin Power & Utilities Expresses Interest in Acquiring Western Wind
Algonquin Power & Utilities Corp. has expressed interest in acquiring Western Wind, a renewable energy developer with assets in California and Arizona, though the two companies now dispute whether Algonquin has made a formal offer.
October 7, 2011
IDT Energy Continues Customer Growth, Posts Loss on Acquisition Costs, Tax Accrual
IDT Energy continued to post net customer growth for the quarter ending July 31 (fourth fiscal quarter of 2011), with a net gain of 27,000 meters, its parent disclosed in reporting earnings yesterday.
October 3, 2011
Exelon, NextEra Acquire Projects from First Solar
Exelon Corporation announced its acquisition of Antelope Valley Solar Ranch One, a 230-megawatt (MW) solar photovoltaic (PV) project under development in northern Los Angeles County, Calif., from First Solar, which developed and will build, operate, and maintain the project.
October 3, 2011
TruSmart Energy Holdings Agrees to Acquire dPi Energy
TruSmart Energy Holdings, LLC has entered into an agreement to purchase dPi Energy, LLC.
September 28, 2011
Hiko Energy, Alpha Gas and Electric Enter Partnership; Unnamed ESCO "Shell" for Sale
Alpha Gas and Electric has entered into a "partnership" with Hiko Energy, Hiko confirmed today.
September 26, 2011
Direct Energy to Maintain First Choice Power Brand
Direct Energy will maintain the First Choice Power brand after its previously announced acquisition closes (9/23) , Steven Murray, President of Direct Energy Residential, told Matters.
September 26, 2011
Testimony: Constellation-Exelon Market Power Could Lead to Retail Supplier Defaults
The Maryland PSC should, "ensure that as much retail load as possible it covered by fixed-price forward contract obligations signed far in advance of delivery (at least two years)," to mitigate market power impacts from the Constellation-Exelon merger, the Maryland Energy Administration said in…
September 23, 2011
Direct Energy to Acquire First Choice Power
Direct Energy confirmed this morning that it has agreed to acquire First Choice Power from PNM Resources for $270 million in cash, plus additional working capital.
September 22, 2011
Satori Energy Acquires Select Energy Partners
Satori Energy has acquired broker Select Energy Partners, LLC, based in Chicago, Illinois.
September 19, 2011
Updated Market Power Analysis By IMM Does Not Change Concerns Regarding Exelon-Constellation Merger
Late Friday, Monitoring Analytics, LLC, filed with FERC as well as the Maryland PSC an updated market power analysis regarding the proposed merger of Constellation Energy and Exelon, but which does not materially alter the PJM independent market monitor's conclusions regarding the merger.
September 19, 2011
Md. PSC Staff Analysis Shows Benefits from Constellation-Exelon Merger Potentially Negated by Even Small Impact from Market Power
The proposed merger of Exelon and Constellation Energy is, as filed, not consistent with the public interest, Maryland PSC Staff said in testimony to the PSC (9271), with Staff's analysis incomplete due to a later deadline for filing testimony relating to market power issues.
September 14, 2011
World Energy Solutions Acquires Energy Procurement Business of Co-eXprise
World Energy Solutions, Inc. announced this morning that it has purchased the energy procurement business of Co-eXprise, Inc., for $4 million in an all cash transaction.
September 14, 2011
Wireless Age Communications to Acquire Apollo Power & Light; Apollo Recently Acquired Pocket Power Customers
Vertility Energy Corp. said yesterday that it plans to acquire Apollo Power & Light, which serves a mix of prepaid, post-paid, and commercial customers in ERCOT.
September 2, 2011
NextEra Subsidiary to Sell Four Generating Assets
A NextEra Energy Resources, LLC, subsidiary has entered into an agreement to sell its ownership interest in a portfolio of natural gas-fired generating assets to an affiliate of LS Power for $1.05 billion, subject to working capital and other adjustments.
September 2, 2011
Briefly
NUS Consulting Group Acquires Viking Energy Management
August 30, 2011
IDT Corp. Files Registration Statement to Spin-Off Unit Holding Retail Supplier IDT Energy
IDT Corporation, through its Genie Energy Ltd. subsidiary, has filed an initial registration statement, including an information statement, related to the previously reported anticipated spin-off of Genie Energy to IDT stockholders.
August 25, 2011
Just Energy to Acquire Fulcrum Retail Holdings
Just Energy Group Inc. has entered into a Purchase and Sale Agreement pursuant to which it has agreed to acquire all of the issued and outstanding membership units of Fulcrum Retail Holdings LLC for approximately $79.4 million (all amounts in US $), subject to customary working capital adjustments.
August 16, 2011
NRG Energy to Acquire Energy Plus Holdings, LLC
NRG Energy, Inc. announced this morning a definitive agreement to acquire Energy Plus Holdings, LLC for $190 million in cash.
August 3, 2011
Constellation's NewEnergy Segment Reports Higher Earnings
Constellation's NewEnergy segment reported higher adjusted earnings of $52 million for the second quarter, versus $44 million a year ago.
July 28, 2011
Direct Energy Reports Higher Profits, Lists Top Markets for Residential Entry
Direct Energy reported a 32% increase in profit for the first six months of 2011, from US$212 million to US$279 million, due to strong sales performance of Direct Energy Business as well as the acquisitions of Clockwork Home Services and the Wildcat Hills gas assets.