NRG and GenOn merger receives FERC approval

Source: NRG Energy, Inc.

NRG Energy, Inc. (NYSE: NRG) and GenOn Energy, Inc. (NYSE: GEN) today jointly announced that the Federal Energy Regulatory Commission (FERC) and New York Public Service Commission (N.Y. PSC) have approved the previously announced merger of NRG and GenOn.

The combination of NRG and GenOn will create the nation's largest competitive generator of electricity, with about 47,000 megawatts of generating capacity. The combined company's diverse portfolio of both conventional and renewable generation facilities can power nearly 40 million American homes.

The FERC and N.Y. PSC approvals represent the final regulatory authorizations required to close the transaction. The N.Y. PSC approved the merger at an open meeting today. NRG and GenOn expect the written order memorializing the N.Y. PSC approval of the merger will be issued before the end of the week and the companies will close the transaction promptly after receiving the written order.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs