M&A Deal Summary

NRG Acquires Dominion Resources - Retail Electric Business

On March 11, 2014, NRG acquired utilities company Dominion Resources - Retail Electric Business from Dominion Energy

Acquisition Highlights
  • This is NRG’s 6th transaction in the Utilities sector.
  • This is NRG’s 10th transaction in the United States.
  • This is NRG’s 6th transaction in Texas.

M&A Deal Summary
Date 2014-03-11
Target Dominion Resources - Retail Electric Business
Sector Utilities
Buyer(s) NRG
Sellers(s) Dominion Energy
Deal Type Divestiture

Target

Dominion Resources - Retail Electric Business

Plano, Texas, United States
Dominion's retail electric business serves more than 600,000 customers in northern states from Illinois to New York, while its Cirro Energy brand is focused on Texas. A regulated electric utility that serves nearly 2.4 million customers in the state.

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Buyer(S) 1

Buyer

NRG

Houston, Texas, United States
Category Company
Founded 1989
Sector Utilities
Employees18,131
Revenue 28.8B USD (2023)
DESCRIPTION
Entrance to an NRG office in downtown Houston, Texas.
Entrance to an NRG office in downtown Houston, Texas.

NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas.

DEAL STATS #
Overall 10 of 16
Sector (Utilities) 6 of 7
Type (Divestiture) 3 of 4
State (Texas) 6 of 7
Country (United States) 10 of 15
Year (2014) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-22 Energy Curtailment Specialists

Buffalo, New York, United States

Energy Curtailment Specialists, Inc. (ECS) is the private demand response provider in North America, offering turnkey, administrative and a la carte demand response services. ECS understands what it takes for a business to become involved and the preparation necessary to make energy reductions.Founded in Buffalo, New York, in 2001, ECS had the goal of helping to ensure reliable electricity supply in New York State.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-12 Edison Mission Energy

Santa Ana, California, United States

EME's assets include four coal-fired plants in Illinois, about 10 gas-fired plants in California and more than 30 wind projects in 11 states. It also has a trading and asset management platform.

Buy $2.6B

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States
Category Company
Founded 1983
Sector Utilities
Employees17,700
Revenue 14.4B USD (2023)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.

DEAL STATS #
Overall 6 of 12
Sector (Utilities) 3 of 5
Type (Divestiture) 6 of 12
State (Texas) 1 of 1
Country (United States) 6 of 12
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-22 Kyocera - Solar Project in Somers

Somers,, Connecticut, United States

Kyocera - Solar Project in Somers, comprises a solar project producing approximately 5 megawatts (AC) of electricity spread over an area of approximately 90 leased acres.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Recurrent Energy - Six Solar Projects

United States

A developer of utility scale solar projects.

Buy -
Mergr

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