NRG buying electric, natural gas units of Stream Energy

MarketsAssociated Press

NRG Energy plans to buy the retail electric and natural gas business of Dallas-based Stream Energy for $300 million.

The company announced the cash deal on Monday. The proposed acquisition of Stream Energy faces regulatory approval. The purchase is expected to close later this year.

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NRG has headquarters in Houston and Princeton, New Jersey.

Its retail companies, including Reliant Energy, serve more than 3 million customers in 10 states and the District of Columbia. The list includes Texas, Pennsylvania, Ohio, Illinois, New Jersey, New York, Massachusetts, Connecticut, Maryland and Georgia.