There are quite a few things going on in the the Texas electricity market these days. News came today that NRG Energy has agreed to buy Reliant Energy’s retail electricity business in Texas for $287.5 million. This is obviously big news since Reliant Energy is one of the largest players (2nd behind Energy Future Holdings/ TXU Energy) in the Texas electric market with over 1.8 million customers. What's quite intersting is that Exelon has been trying to purchase NRG the past several months and they also recently stated that 51% of the shareholders of NRG have agreed in principal to the Exelon offer.
I believe this is solid show of support for the Texas electric market and an important move for Reliant Energy - especially since they released earnings today and lost over $437 million in the 4th quarter - that was compared to net income of $227 million in that same quarter a year ago.
A lot has changed in the Texas electric landscape in the past couple of years...
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