May 29, 2020
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Reporting by Paul Ring •ring@energychoicematters.com
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US Retailers, LLC, d/b/a Cirro Energy and Discount Power, which are brands of NRG, have acquired the Texas retail energy business of Texans Energy.
“We at Texans Energy believe the time is right to transfer our Texas retail energy business to US Retailers, LLC, which will enhance our customers’ long-term service with expanded product offerings and additional resources,” said Barend VanderHorst, COO of Texans Energy.
“This is a win-win transaction for customers, brokers and team members of Texans Energy and US Retailers, LLC,” continued Javed Meghani, CEO of Texans Energy.
All current contract terms and contract plans will be honored with electricity service continuing uninterrupted.
Texans Energy’s priority is a seamless service experience and expanded service offerings for each of its highly valued customers, continued Texans Energy’s CEO Javed Meghani.
Terms were not disclosed.
The M&A Team of AEG Affiliated Energy Group served as Texans Energy’s (World Power and Gas, LP’s) investment banker in the transaction.
World Power and Gas’s retail electricity business in its six other states will continue unaltered by this transaction, with further growth planned in an additional three states (NJ, PA, and MD) into 2020, noted CEO Javed Meghani.
Earlier today, EnergyChoiceMatters.com reported that NRG, in a separate transaction, has acquired a book of Texas retail electric customers from Windrose Energy (REP certificate 10254)
