PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE: NRG) has completed its previously announced acquisition of Energy Plus Holdings LLC, adding a unique and compelling sales channel to the Company’s retail portfolio.
“Through Energy Plus, NRG’s retail business now has the exclusive loyalty program partnerships, marketing partnerships and direct marketing expertise that enable us to offer a unique value proposition to potential retail electricity customers,” said David Crane, NRG President and Chief Executive Officer.
Energy Plus currently serves more than 180,000 customers, principally in New York, Connecticut, Pennsylvania, New Jersey, Maryland and Illinois. Energy Plus also sells electricity to retail customers in Texas and natural gas in New York and New Jersey.
Energy Plus has been one of the fastest-growing energy companies in the United States since it was founded in 2007, driven by its successful rewards programs offered through the company’s rapidly growing network of almost 100 industry-leading partners and associations.
NRG Energy, Inc. is a Fortune 500 and S&P 500 Index company that owns and operates one of the country’s largest and most diverse power generation portfolios. Headquartered in Princeton, N.J., the Company’s power plants provide 25,000 megawatts of generation capacity—enough to supply approximately 20 million homes. NRG’s retail businesses serve nearly 1.9 million residential, business, commercial and industrial customers. With major investments in solar and wind power, as well as electric vehicle infrastructure, NRG is working to help America transition to a clean energy economy. More information is available at www.nrgenergy.com.
About Energy Plus Holdings LLC
Energy Plus® is one of the nation’s fastest-growing energy companies, supplying electricity services to customers in seven competitive energy states. Energy Plus also offers electricity services through its subsidiary Independence Energy as well as natural gas services in New York and New Jersey through its affiliate Energy Plus Natural Gas LP. As the only company to offer energy choice, superior service, green energy options and an ongoing rewards program to every customer, Energy Plus is becoming the preferred energy company for an increasing number of homes and small businesses. Energy Plus enables consumers to benefit from the money they already spend each month on electricity through a unique rewards program featuring cash back, airline miles, hotel and retail points, and college savings from almost 100 industry-leading partners and associations. Additionally, the company is committed to supporting the environment and offers customers a certified green option. With a focus on the customer, Energy Plus’ reliable services are supported by an in-house call center and customer-friendly policies. Headquartered in Philadelphia, Energy Plus serves Connecticut, Illinois, Maryland, New Jersey, New York, Texas and most of Pennsylvania. For more information, visit www.energypluscompany.com.
Safe Harbor Disclosure
Certain statements contained herein may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions that include, but are not limited to, the expected synergies of our retail business and other benefits of the acquisition described herein, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, weather conditions, competition in retail power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, the condition of capital markets generally, our ability to access capital markets, unanticipated outages at our generation facilities, adverse results in current and future litigation, and the inability to implement value enhancing improvements to plant and retail operations and companywide processes.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the Securities and Exchange Commission at www.sec.gov.