Deal Description: July 27, 2016 – Constellation Energy Resources LLC announced today its plans to acquire ConEdison Solutions' retail electric and natural gas business, which includes more than 560,000 residential, public sector, commercial and industrial customers in 12 Northeastern, mid-Atlantic and Midwestern states, and Texas and Washington, D.C.
Constellation will acquire ConEdison Solutions’ retail electricity and natural gas customer contracts and associated supply contracts. ConEdison Solutions will retain its focus on renewable energy, sustainable services, and energy efficiency solutions for commercial, industrial, residential and government customers.
Headquartered in Valhalla, N.Y., the retail electricity and natural gas business within ConEdison Solutions includes approximately 85 employees and is the 13th largest commercial and industrial and 16th largest residential electricity retailer in the U.S. The company delivered approximately 14 TWh of electricity and 1 Bcf of natural gas in 2015.
Baker Botts is representing ConEdison Solutions in the transaction.
Baker Botts Lawyers/Office Involved:
- Mergers & Acquisitions: Bill Lamb (Partner, New York); Elaine Walsh (Partner, Washington, D.C.); Kristen Whitt (Associate, Washington, D.C.); David Frankenfield (Associate, Washington, D.C.)
- Employee Benefits: Mark Bodron (Partner, Houston); Stephanie Jeane (Associate, Houston)
- Tax: Don Lonczack (Partner, Washington, D.C.); Peter Farrrell (Associate, Washington, D.C.)
- Regulatory: Greg Wagner (Special Counsel, Washington, D.C.); Michael Bodosky (Special Counsel, Washington, D.C.); Marcia Hook (Associate, Washington, D.C.)
For more information, please see Constellation’s news release by clicking here.