Today we announced that we have signed a definitive merger agreement to acquire StarTex Power, an acclaimed Houston energy retail electric provider with approximately 170,000 residential and small commercial customers in Texas.
We’re thrilled to share this news. StarTex brings a strong customer-focused platform in Texas, the most active of all residential markets in the country, and is the second retail acquisition we have announced in the past two weeks. As we recently posted on this blog, we are planning to acquire MXenergy, a Connecticut-based supplier of natural gas and electricity with operations in Texas and Maryland, adding more than 540,000 customers when that transaction closes in the third quarter.
Both acquisitions build on our commercial, industrial and public sector expertise, and position Constellation Energy to deliver more products and services to all segments in a wide geographic footprint.
Further, the StarTex Power acquisition gives Constellation a leading presence in the most vibrant competitive market in the nation — Texas. Approximately 5.4 million residential customers in the Texas ERCOT market shop for an electricity provider, the highest in the nation, and we are proud to begin serving customers in one of the nation’s leading competitive energy markets.
Stay tuned for future updates.
