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.