On June 17, 2025, NRG Energy and LS Power submitted a request to the Federal Energy Regulatory Commission (FERC) for approval of their $12 billion acquisition of natural gas-fired power plants and a demand-response platform.
However, the independent market monitor for PJM Interconnection urged FERC to impose conditions on the deal. Without these conditions, the monitor stated it would oppose the transaction, citing concerns that it would increase NRG’s ability to affect electricity and capacity prices in the market.
Under the proposed deal, NRG’s capacity in the PJM Interconnection would significantly increase from 2.1 GW to 9.5 GW. This regulatory scrutiny highlights potential hurdles for the acquisition and could lead to modifications in the transaction terms or operational structure.
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