Baltimore, July 5, 2011 — Constellation Energy has closed its acquisition of MXenergy, a Connecticut-based supplier of natural gas and electricity with about 540,000 customers in North America.
The $175 million transaction (subject to normal adjustments), announced May 12, broadens Constellation Energy's mass-market presence to include the 15 states and two Canadian provinces where MXenergy supplies gas and electricity to residential and small commercial customers. The acquisition gives Constellation Energy about 900,000 residential customers, doubling its previous total.
MXenergy has more than 200 employees and is headquartered in Stamford, Conn., with a major operational office in Houston, Texas, and call-center operations in Annapolis Junction, Md.
The transaction is the company's second mass markets acquisition in the past month; on May 27, Constellation Energy closed its purchase of StarTex Power, an award-winning Houston retail electric provider acclaimed for its service to about 170,000 customers.
Constellation Energy has been steadily growing its residential base by offering customers a choice in electric, gas and energy services in Maryland, and electricity supply to customers in Washington, D.C., and parts of New Jersey, Illinois and Pennsylvania.