FERC Nods For Planned NRG Energy & Edison Mission Energy Merger

(RTTNews) - Electric utility NRG Energy, Inc. (NRG) and Edison Mission Energy or EME jointly said the Federal Energy Regulatory Commission or FERC has approved the prior announced sale of substantially all of EME's assets to NRG.

The company said that the purchase of EME's portfolio of renewable and conventional generation assets would create the second-largest US power company with enough capacity to support nearly 48 million American homes. EME would add around 8,000 megawatts or MW of generating capacity to the combined company's diverse portfolio of both conventional and wind generation facilities.

The FERC approval represents the final regulatory authorizations required to complete the transaction and parties expect to close the transaction on April 1, 2014.