May 12, 2011
Constellation to Acquire MXenergy
Constellation Energy announced this morning a definitive agreement to acquire 100 percent of MXenergy, which serves more than half a million customers in 15 states and two Canadian provinces.
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Mergers, Acquisitions & Finance
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May 11, 2011
Conservice Acquires Iluminar Energy
Conservice LLC has acquired Texas retail electric provider Iluminar Energy LLC, it disclosed in a filing to update Iluminar's REP certificate.
May 6, 2011
PPL Reports Lower Supply Earnings on Reduced Margins
Ongoing earnings at PPL's Supply segment were lower at $205 million, versus $244 million a year ago, on lower energy margins as higher priced hedges continue to roll off.
May 3, 2011
Briefly
BGE Files Updated Bypassable SOS Transmission Rates
April 28, 2011
Maryland PSC Notes Direct Energy Acquisition of Gateway After Staff Agrees Firms Are Not Public Service Companies
The Maryland PSC noted the acquisition of Gateway Energy Services Corporation by Direct Energy, after Staff modified its recommendation and agreed that the suppliers are not public service companies, and that the transaction should not be evaluated under the public interest standard of Public…
April 28, 2011
Exelon, Constellation Announce Definitive Merger Agreement Further Matching Generation, Load Obligations
Exelon and Constellation Energy announced this morning that they have signed a definitive merger agreement to combine the two companies in a stock-for-stock transaction.
April 26, 2011
Md. Staff Treats Suppliers as Public Service Companies in Merger Review
Competitive suppliers are not "public service companies" under Maryland law and their combination should not be subject to the public interest standard, Direct Energy Services said in comments to the Maryland PSC.
April 21, 2011
AES to Acquire DPL Inc.
The AES Corporation has executed a definitive agreement to acquire DPL Inc. in a transaction with an enterprise value of $4.7 billion, including a total equity value of $3.5 billion.
April 6, 2011
Switching Process for Sold Milagro Customers Begins As Deal Restructured
Updated 11:00 EST with info from Open Meeting, see last two grafs
April 1, 2011
Milagro Power Enters Executed Agreement for Sale of Assets
Milagro Power Company (TexRep3, LLC) informed the PUCT yesterday that it has entered into an executed agreement with an undisclosed buyer for the sale of several Milagro assets, including the customer book (Docket 37753 et. al.).
March 21, 2011
Direct Energy Services to Acquire Gateway Energy Services
Direct Energy Services, LLC has agreed to acquire Gateway Energy Services Corporation for $90 million in cash (including $13 million of tax assets) plus additional working capital, parent Centrica said this morning.
March 18, 2011
Milagro Power Signs Exclusive Letter of Intent for Customer Book Sale, Seeks Longer Deferral of Proposed Revocation Order
Milagro Power Company (TexRep3) has asked the PUCT to further defer action on a pending proposed order which would revoke its REP certificate to allow for additional time to complete a contemplated purchase of Milagro's customer book.
March 9, 2011
Dynegy Says Likely to Violate Debt Covenants in 2011, May Force Bankruptcy
Dynegy said in a 10-K filing Tuesday that it may be forced to seek bankruptcy protection if it cannot obtain liquidity to replace existing credit agreements, as it is likely that Dynegy will fall out of compliance with existing debt covenants.
March 3, 2011
DPL Energy Resources Acquires MC Squared Energy Services
DPL Energy Resources has purchased MC Squared Energy Services, LLC, which will provide MC Squared Energy Services with a platform to expand from its current market of Commonwealth Edison.
February 25, 2011
Direct Energy Says Texas Churn at Lowest Rate Ever
Despite a 7% decline in total residential energy supply customers year-over-year, Direct Energy said that its Texas residential book saw improved retention, driving churn to its lowest ever level.
February 25, 2011
Pa. PUC Approves FirstEnergy-Allegheny Merger Without Additional Retail Market Conditions, Orders Investigation into Default Service
The Pennsylvania PUC approved, without additional retail market-related conditions, a non-unanimous stipulation authorizing the merger of FirstEnergy Corp. and Allegheny Energy (A-2010-2176520 et. al.).
February 24, 2011
Interstate Gas Supply Acquires Accent Energy, Expanding Electric Service to Illinois, Pennsylvania
Interstate Gas Supply has recently acquired Accent Energy, Interstate Gas Supply disclosed in applying for an Illinois alternative retail electric supplier license.
February 21, 2011
Superior Plus Reports Lower Gross Profit due to Residential Market Exits
Superior Plus' fixed-price energy services business generated gross profit of $7.9 million for the fourth quarter of 2010, down from $8.4 million a year ago, on lower natural gas gross profits due to reduced sales as a result of exiting the direct residential natural gas markets in Ontario and…
February 17, 2011
Dynastar Ventures Acquires My Affordable Energy, LLC
Dynastar Ventures, Inc. said yesterday that it has entered into an agreement to acquire My Affordable Energy, LLC, a Texas-based direct selling company focused on selling energy services.
February 14, 2011
OUR Energy Pursuing Measured Growth, Expansion Outside Texas in Future
OUR Energy, LLC's acquisition of approximately 1,600 customers from Abacus Resources Energy is part of the retail electric provider's measured growth plans and continued expansion into residential service.
February 11, 2011
Spark Energy, Our Energy Acquire Customers of Abacus Resources Energy as Abacus Defaults
Spark Energy and Our Energy have split the customer book of Abacus Resources Energy LLC due to Abacus' default on financial obligations to ERCOT.
February 7, 2011
PPL Supply Unit Earnings Higher on Market Rates
PPL Corp.'s Supply unit reported higher earnings of $281 million for the fourth quarter of 2010 versus $52 million a year ago.
January 20, 2011
Maryland PSC Will Watch Allegheny SOS Procurements "Closely," Imposes No Retail Market Conditions on FirstEnergy Merger
As first reported in a flash on EnergyChoiceMatters.com yesterday morning, the Maryland PSC approved the merger of FirstEnergy Corp. and Allegheny Energy without any conditions related to the competitive wholesale or retail market (Case 9233).
January 19, 2011
BREAKING: Md. PSC Approves FirstEnergy-Allegheny Merger with no Retail Market Conditions
The Maryland PSC published early Wed. morning an order approving the merger of FirstEnergy Corp. and Allegheny Energy with several conditions, but none which relate to the competitive retail or wholesale market. The Commission order can be found here , with conditions listed on p 58-61. More will…
January 19, 2011
Nicor, AGL Say Combination Won't Adversely Impact Illinois Retail Gas Choice
The purchase of Nicor Inc. by AGL Resources, "should have no significant adverse impact on the competitive retail gas markets in Illinois," the joint applicants said in testimony before the Illinois Commerce Commission (Docket 11-0046).