- Contagion Fears Calmed by Dubai World Plan
- China Hires Foreigners to Manage Forex Reserves
- Bank of Japan Offers Liquidity at Emergency Meeting
- Somali Sea Gangs Create Pirate Stock Exchange
- Cutting Jobless Will Take Time: White House's Summers
- GE, Vivendi Agree to Value NBCU Stake at $5.8 Billion
- Manufacturing in Focus as Bulls Call for Turn in Dollar
- Euro Zone Manufacturing Grows Faster Than Forecast
- Arrest Imminent in Florida Ponzi Case: Report
- Treasury Threatens Banks, Not Borrowers
- We're Approaching a Market Bubble: Portfolio Manager
- Hershey Shares: What Options Are Saying
- Nov. 30: Unusual Volume Leaders
- Why Careful Shoppers Are Great for the Box Office
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Best Online Retailers to Buy Now: Internet Analyst
- ESPN The Magazine’s Body Issue: A Financial Success
- Cyber Monday: The Last Vestige of Dotcom Hype
MOST SHARED
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Good Sign for the Economy: 'Greed' Makes a Comeback
- Dubai World Set to Restructure About $26 Billion of Total Debt
- Dubai Stocks Could Fall a Further 30%: Charts
- Dubai Markets Close Sharply Lower for Second Day
- Treasury Threatens Banks, Not Borrowers
- Notre Dame Fires Charlie Weis After 5 Seasons
- Bank of Japan Offers More Liquidity at Emergency Meeting
- What to Expect from Cyber Monday
- Bove: 26 Banks May Need To Raise More Capital
Text Size 
Reliant Energy said on Friday it will sell its electricity marketing assets of its retail subsidiaries in the Northeast to Hess [HES Loading... ()] by the end of the year.
These subsidiaries, Reliant Energy Solutions East and Reliant Energy Solutions Northeast, provide electricity and related services to commercial and industrial customers in Delaware, Maryland, New Jersey, New York, Pennsylvania and the District of Columbia.
The company said the contracts included in the transaction represent a total load of about 5.8 million megawatt hours. The terms of the deal were not disclosed.
In October, as the credit crisis spread, Reliant announced it was exploring "strategic alternatives," a term typically used by companies considering a sale, either whole or partial. A week earlier, the company was forced to raise $1 billion in new capital and cut its retail profit expectations by $300 million to $350 million for the year, partly due to damage from Hurricaine Ike.
Shares of Reliant [RRI Loading... ()] fell about 6 percent Friday. The company's stock has ranged between $2.77 and $28.74 over the past 52 weeks.
Print
Email
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
Data is a real-time snapshot *Data is delayed at least 15 minutes