Constellation Energy to Acquire Texas Residential Energy Supplier And Expand National Residential Customer Base for $142.5M

Constellation Energy CEG today announced it has signed a definitive merger agreement to acquire 100 percent of StarTex Power, a Houston retail electric provider with approximately 170,000 customers. The purchase of StarTex Power for $142.5 million in an all-cash transaction gives Constellation Energy a foothold in the Texas mass market, the most active of all residential markets in the country, and is a key element of the company's broader strategy to be a residential sector market leader. “StarTex Power brings award-winning service for residential and commercial customers to Constellation Energy's growing residential platform,” said Mark Huston, head of Constellation Energy's retail business. “The StarTex Power acquisition strengthens our commitment to choice and innovation for customers, continues Constellation Energy's systematic retail expansion, and brings an employee base that has helped the company win significant awards from rating companies and the Better Business Bureau.”