Constellation Energy doubles its customer base

Constellation Energy has doubled the size of its residential customer base with the acquisition of MXenergy, a Connecticut-based supplier of natural gas and electricity with about 540,000 customers in North America.

The $175 million transaction brings Constellation’s residential customer base up to around 900,000 and broadens the company’s market reach to include the 15 states and two Canadian provinces where MXenergy supplies gas and electricity to residential and small commercial customers.

With the close of the MXenergy transaction, Constellation Energy now ranks among the top 10 residential energy providers in the US. The transaction is the company’s second mass markets acquisition in the past month; on May 27, it closed its purchase of StarTex Power, a Houston retail electric provider with around 170,000 customers.