Industry consolidation: ENGIE Resources acquires Plymouth Rock Energy

ENGIE Resources has closed on its acquisition of Plymouth Rock Energy, adding more than 20,000 electricity and natural gas accounts to its customer book in seven states. “Plymouth’s customers will join our portfolio of over 25,000 commercial and industrial power and natural gas customers, expanding our market share in metropolitan New York,” said Graham Leith, head of retail for ENGIE Resources. The company expects the combined entity to benefit from complementary products, geographies, and systems in addition to shared information technology and billing and service economies. The acquisition also affords the company the opportunity to triple the natural gas service territories in which it operates. “Plymouth Rock and its customer base will benefit from joining a global energy leader with scale and financial backing to support credit and risk management,” the company said in a press release. “Equally important, Plymouth Rock customers will have direct access to ENGIE’s growing portfolio of energy products and services.”