15 Nov NRG acquires customer book from Volterra Energy Holdings
NRG acquisition pads customer book of largest retail supplier in Texas. Slim margins and scarcity-driven pricing are driving consolidation in the Texas competitive retail power market, long touted for the many different competing suppliers and the diversity of their offerings. Most recently, NRG Energy, the state’s largest retail supplier, acquired Discount Power and two other brands from Volterra Energy Holdings, adding to its stable of retail suppliers, which include Cirro Energy, Green Mountain Energy, Pennywise Power and Reliant Energy. NRG said it will fold its Pennywise Power brand into Discount Power. While most economists would deem consolidation in the retail supply sector as a necessary thing, reflecting economic realities, some observers are questioning whether fewer providers in the market will translate to higher prices for consumers. NRG serves about a third of the Texas market, and the top three suppliers in the state have two-thirds of the market, according to a company presentation to analysts earlier this year.
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