NRG’s $3.6B deal for Direct Energy worries consumer advocates
Houston Chronicle, 7/25/2020, by L.M. Sixel
NRG Energy, one of the biggest electricity sellers in Texas, said Friday that it bought British-owned Direct Energy for $3.6 billion in cash, a move that if approved by regulators would further consolidate Texas’ retail electricity market under the banner of NRG, raising concerns that prices will rise.
Direct Energy, which is owned by U.K.-based Centrica, is the third-largest seller of electricity in Texas and controls about 10 percent of the market. The deal would add 3 million retail customers to NRG in the United States and Canada, nearly doubling its footprint, and would open a new market for retail natural gas sales in the East.
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