November 14, 2008
Reliant Energy to Sell Northeastern Electricity Marketing Assets to Hess Corporation
Reliant Energy announced today it has reached an agreement to sell the Northeastern electricity marketing assets of its retail subsidiaries, Reliant Energy Solutions East and Reliant Energy Solutions Northeast, to Hess Corporation.
These subsidiaries provide electricity and related services to more than 300 commercial and industrial customers in Delaware, Maryland, New Jersey, New York, Pennsylvania and the District of Columbia. Contracts included in the transaction represent total load of approximately 5.8 million megawatt hours.
The sale is expected to close before the end of the year.
About Reliant Energy, Inc.
Reliant Energy, Inc. (NYSE:RRI) based in Houston, provides electricity and energy services to retail and wholesale customers in the United States. The company provides service to approximately 1.8 million retail electricity customers primarily in Texas, including residential and small business customers. Reliant also serves commercial, industrial, governmental and institutional customers in Delaware, Illinois, Maryland, New Jersey, New York, Pennsylvania and Washington, D.C.
The company is one of the largest independent power producers in the nation with more than 14,000 megawatts of power generation capacity across the United States. These strategically located generating assets use natural gas, fuel oil and coal. For more information, visit http://www.reliant.com. Reliant Energy routinely posts all important information on its Web site.
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