Stream (Stream Energy), a leading direct selling company and provider of
energy and wireless services, has entered into a definitive agreement to
sell its retail energy business to NRG Retail LLC, a subsidiary of NRG
Energy, Inc. (NYSE: NRG). At closing, Stream’s remaining business will
emerge as a new brand to market energy and wireless services through its
independent sales organization and will be the exclusive marketer to the
retail energy business acquired by NRG.
Stream’s retail energy business provides electricity and natural gas in
over 40 deregulated markets across the U.S. Rob Snyder, Founder of
Stream, said, “NRG will be a fantastic partner and is an excellent fit
for Stream and its associates. This sale will allow us to focus, first
and foremost, on our crusade to be a world-class direct selling business
helping individuals to change their lives by offering essential services
to their friends and families. Just as importantly, we are confident
that NRG will continue to provide the highest level of service to our
The transaction is subject to Federal Energy Regulatory Commission and
Georgia Public Service Commission approvals, antitrust review under the
Hart-Scott-Rodino Act and other customary closing conditions and is
expected to close in latter 2019.
Stream (Stream Energy) is a leading direct selling company and provider
of energy and wireless services. Founded in 2005 by Rob Snyder and
Pierre Koshakji, Stream’s innovative use of direct selling
revolutionized the energy industry, growing into one of the largest
direct selling companies in the global energy market.
At NRG, we’re redefining power by putting customers at the center of
everything we do. We create value by generating electricity and serving
more than 3 million residential and commercial customers through our
portfolio of retail electricity brands. A Fortune 500 company, NRG
delivers customer-focused solutions for managing electricity, while
enhancing energy choice and working towards a sustainable energy
future. More information is available at www.nrg.com.
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