Complete Energy selling power plant
Since August 2004, Complete Energy has owned and operated the Batesville Generating Facility, which it acquired from NRG Energy Inc.
"We have benefited from improving operational and commercial performance at both plants, in large part due to the efforts of the experienced staff at the facilities," said Peter Dailey, managing director of Complete Energy. "We also believe that the commodity market has improved since we purchased the assets."
The plant employees will remain at the facilities after the close of the transaction, which is expected to close at the end of the third quarter, subject to regulatory approvals.
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Electricity used to be boring. Public utilities that provided power to homes and businesses were regulated monopolies and, by law, guaranteed a fixed rate-of-return on their generation, transmission, and distribution assets. Prices per kilowatt-hour were set by utility commissions after lengthy testimony from power companies, wanting higher rates, and consumer groups, wanting lower rates.
About 25 years ago, the electricity landscape started to change as economists and others argued that competition could lead to lower prices and stronger grid reliability. Opponents of competition argued that consumers weren’t knowledgeable enough about power markets to make intelligent choices…
