Update: Crius Acquisition of TriEagle Adds Geographic, Customer Diversity

Crius Energy, which as first reported yesterday is acquiring TriEagle Energy for $22.2 million, has provided details of how the TriEagle acquisition, which will give Crius entry into the Texas market, will diversify its customer book.

Specifically, Crius reported a comparison of its customer book composition in terms of geography, customer type, and contract type, pre- and post-acquisition.

Service Areas
          Pre-Acquisition       Post-Closing
ISO-NE           34%                23%
NYISO            20%                14%
PJM              45%                45%
MISO              1%                 1%
ERCOT             0%                17%


Customer Type
          Pre-Acquisition       Post-Closing
Residential      72%                65%
Commercial       28%                35%


Contract Type
          Pre-Acquisition       Post-Closing
Variable         53%                40%
Fixed            47%                60%

The acquisition of TriEagle's 200,000 residential customer equivalents (RCEs) in Texas, Pennsylvania, and New Jersey will bring Crius' total RCEs to more than 800,000