Irving-based First Choice Power is being acquired by Direct Energy for $270 million in cash, bolstering the Houston-based company’s position as the third-biggest electricity retailer in Texas.
First Choice, a subsidiary of PNM Resources, has 220,000 residential and commercial accounts in Texas. With the acquisition, Direct Energy will have more than 830,000 customers in Texas, the company said in a statement today. Direct Energy is owned by Centrica plc, based in Windsor, England.
Read the full article at Fort Worth Star-Telegram.
Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.