Exelon Corporation completes acquisition of Integrys Energy Services

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Exelon Corporation completes acquisition of Integrys Energy Services

Constellation, a subsidiary of Exelon Corporation has completed its acquisition of Integrys Energy Services, a subsidiary of Integrys Energy Group, Inc.

Integrys Energy Services is a competitive retail electricity and natural gas subsidiary serving approximately 1.2 million commercial, industrial, public sector and residential customers across 22 Midwest, mid-Atlantic and Northeastern states and the District of Columbia.

Integrys Energy Services is now part of Constellation, strengthening its retail power and gas business, which together serve more than 2.5 million residential and business customers across the continental United States.

Exelon will pay about US$60 million for the Integrys retail operations. Integrys Energy Services had adjusted working capital of about US$183 million as of May 31, 2014. The transaction does not include Integrys’ energy assets — primarily solar — which will remain a part of Integrys Energy Group, Inc.

Mark Huston, president of Constellation Retail stated:

“This combination creates a stronger, more diverse business that is well positioned to vie for customers in increasingly competitive retail electricity and gas markets across the country. The combined strengths of the two companies will allow Constellation to reach more customers and continue to grow the business, particularly in areas where Exelon already owns significant generation assets.”

Within the next 30 days, the combined company will begin transitioning Integrys to the Constellation brand. However, customers may see both Integrys and Constellation operating independently in the marketplace until the businesses are integrated. Customers of Integrys will experience no disruption to service as a result of the combination, and all existing customer contracts will be honored. This includes Integrys’ municipal electricity aggregation contract with the City of Chicago, which is currently scheduled to expire in May 2015.

The transaction was approved by the Federal Energy Regulatory Commission and the U.S. Department of Justice.

List of country news

Country news

  • November 13, 2014

    DTE Energy announces plan to purchase natural gas generation facility

    DTE Energy has announced its plan to purchase the Renaissance Power Plant, a 732 MW simple-cycle natural gas facility located in Carson City, Michigan. Read more
  • November 14, 2014

    Dominion acquires Solar Energy Project In Utah from Juwi

    Dominion has acquired Pavant Solar, a 50 MW solar energy project, from juwi solar (JSI), a global renewable energy provider with U.S. operations based in Boulder, Colo. Pavant Solar, located in Millard County, USA. Read more
  • November 17, 2014

    Pattern Energy acquires Panhandle 2 wind farm in Texas after reaching commercial operation

    Pattern Energy Group Inc. has closed the acquisition of 147 megawatts (MW) of owned interest in the 182 MW Panhandle 2 Wind facility from Pattern Development for a total cash consideration of US$123.8 million. Read more
  • November 17, 2014

    SunPower announces acquisition of Solarbridge Technologies

    SunPower Corp. has expanded its product portfolio for its residential customers with the acquisition of SolarBridge Technologies, Inc., a leader in integrated microinverter technologies for the solar industry. Read more
  • November 17, 2014

    NTR plc announces launch of sale process for Wind Capital Group Assets

    NTR plc, the Irish renewables investment group, has confirmed that following a strategic review, Marathon Capital LLC has been appointed by its US wind company Wind Capital Group LLC to launch a sale process of its wind projects. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.