NRG- GenOn merger approved

At the end of July, the two parties announced their intentions to merge operations. The combined company will retain the name NRG Energy and will reportedly be the biggest energy generator in the U.S., with a combined fossil fuel, nuclear, solar and wind capacity of 47 GW across the east, Gulf Coast and west regions.

While the approval from PUCT was a condition of the transaction, the merger still needs to receive the go ahead from state regulators in New York, the Federal Energy Regulatory Commission and the respective company shareholders. Furthermore, the Nuclear Regulatory Commission must determine that its approval is not required.

The transaction is scheduled for closure in Q1 2013.