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June 22, 2025

mergers and acquisitions

Calpine
DOJ Seeks PJM Market Data for Review of Constellation-Calpine Merger
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 Earnings Report Highlights Huge Investments to Meet Load Growth
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 Proposes Talks with DOJ on Southern Co. Plant Purchase
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, Calpine Propose Selling PJM Plants to Cut Market Power
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 Completes Purchase of Algonquin Power’s Renewables
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.
Electric cat, CC BY-SA 3.0, via Wikimedia Commons
FERC Approves Icahn Deal for AEP Board Seat
FERC approved granting voting rights to a member of American Electric Power’s board of directors who was appointed by investment firm Icahn Group.
Shutterstock
FERC Approves LS Power Gas Plant Purchase Despite PJM Monitor’s Concerns
FERC approved LS Power’s purchase of an 810-MW natural gas plant in central Pennsylvania despite some qualms from PJM’s Independent Market Monitor. 
Iberdrola
Iberdrola to Take Full Ownership of Avangrid
Iberdrola is moving to acquire the 18.4% stake in Avangrid that it does not already own in a $2.55 billion deal.
Bridgepoint Group
FERC Rejects Bridgepoint-ECP Deal for Failing to Disclose Common Owner
FERC denied a merger proposal in which Bridgepoint tried to buy a 19.9% stake in Energy Capital Partners, saying it did so without prejudice because the first firm failed to disclose its relationship with a third – Blue Owl.
Shutterstock
Lights out for Avangrid’s PNM Acquisition

Avangrid has pulled the plug on its proposed $8.3 billion acquisition of PNM Resources, as final approval for the deal remains tied up at the New Mexico Supreme Court.


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