Companies

Dominion to sell its retail energy business to NRG



Dominion Resources announced Tuesday that it would sell its 600,000-customer retail energy business to NRG Energy Inc., but the acquisition, expected to be finalized by the end of the month, could threaten local jobs.

NRG, based in Princeton, N.J., will acquire Dominion’s customer accounts and its Cirro Energy unit, based in Texas, spokeswoman Pat Hammond said.

Since NRG is adding only the customer accounts, and not the entire retail energy business, the employees who used to service those accounts for Richmond, Va.,-based Dominion will remain with Dominion.

Dominion spokesman Ryan Frazier said all decisions affecting Dominion’s retail energy business employees will be made “during the transition.”

Dominion has Pittsburgh offices in the D.L. Clark Building on the North Shore.

NRG plans to service the new accounts with its own employees. The company also has offices in Houston.

Dominion's retail energy business serves customers in Pennsylvania, Illinois, Maryland, Massachusetts, New Jersey and New York, and Cirro Energy serves customers in Texas. Its northeast division accounts for 80 percent of its retail customers.

Terms of the deal were not disclosed.

NRG already has electric customers in the Pennsylvania market as one of the state’s numerous competitive energy suppliers.

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