mergers and acquisitions
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FERC approved LS Power’s deal to sell 12.9 GW of its gas generation in PJM, NYISO and ISO-NE, as well as its 6-GW demand response business, CPower, to NRG Energy for $12 billion.
The Boldt Co.
The Minnesota Public Utilities Commission approved the $6.2 billion sale of Allete to BlackRock’s Global Infrastructure Partners and the Canada Pension Plan Investment Board.
NRG
PJM's IMM is pushing for limits on NRG after it completes its deal with LS Power to prevent its exercise of market power, but the firm argues they are unneeded and the Monitor has failed to show its math
NorthWestern Energy
The proposed merger between Black Hills Corp. and NorthWestern Energy likely will reshape the map in the competition between CAISO’s Extended Day-Ahead Market and SPP’s Markets+ — but it’s still too early to know where new boundaries will be drawn.
Constellation Energy
FERC approved Constellation's purchase of Calpine, which will create an even bigger IPP with nearly 60 GW around the country, with the biggest share of that in PJM.
Calpine
As part of its review for the Constellation-Calpine merger, DOJ asked PJM for a major trove of market data as it looks into the region where the two firms' operations overlap the most.
Duke Energy
Duke Energy described plans to invest up to $200 billion in the next decade to meet demand growth across its multiple utilities during an earnings call for the first quarter of 2025.
Tenaska
FERC took the rare step of formally noticing potential discussions with DOJ anti-trust officials over Alabama Power's proposed purchase of a Tenaska power plant.
PSEG
Constellation and Calpine proposed selling off several PJM power plants in their merger application with FERC to quell any concerns with market power in some submarkets.
Algonquin Power
LS Power closed on its deal to buy Algonquin Power's renewable business, adding thousands of megawatts around North America along with a deep development pipeline of clean energy projects.
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