Constellation to Invest in Texas Power Plants

by Michelle on January 11, 2011

After recently announcing the sale of a West Texas natural gas plant Constellation Energy Group Inc.

is now getting ready to reinvest the money in a number of Texas power plants.

The company buying the plant is planning to obtain the money through profits made from the sale of municipal bonds and the deal will not be finalized until the sale is completed.

The plant being sold is Quail Run and it was only purchased by Constellation in May of 2010.

There is no information regarding what the sale and reinvestments may do for, or to, energy rates in the service areas.

Consumers concerned about high energy rates should contact Electric Rates to make a comparison of the various companies serving their residential area.

  • Constellation Energy sold the plant, which is located in Odessa, Texas, for a total of $185.3 million.
  • High Plains Diversified Energy Co., a municipal utility located in West Texas, is the company that purchased the natural gas plant.
  • The funds produced from the sale will be used to purchase additional power plants in Texas.
  • Constellation Energy Group Inc. is a Baltimore based electricity service provider that serves a number of states.

Many things can affect the energy rates charged to electricity consumers and that includes acquisitions and sales.

Currently there is no word as to what this specific situation will do to rates but it is important for consumers to know that rates can vary from one energy provider to the next.

Deregulation of the utilities market has made for much more competition in the industry which is often beneficial to electricity consumers.

Consumers can now compare Texas electricity companies and then choose the company that offers what they want, either in rates or energy choices.

Contact Electric Rates in order to find more about the Texas electricity company comparison process.

Many times rate comparisons result in finding a lower energy rate than the one currently being paid.

Residential energy consumers use the online comparison tool and know in just a few moments how much you could be saving on energy costs by switching to another energy company.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: