On January 30, 2025, NRG Energy, Inc. closed its acquisition of eighteen natural gas facilities and a virtual power plant platform from LS Power, following a Second Request issued by the Department of Justice (DOJ). The $12 billion transaction adds thirteen gigawatts of natural gas capacity to NRG’s generation fleet in the Northeast and Texas, as well as approximately six gigawatts of demand response capacity.
An Econic Partners team led by Founding Partners Dr. Nathan Miller and Dr. Lona Fowdur and Senior Principal Zack Campbell was retained by LS Power and its outside counsel to advise on antitrust issues in wholesale electricity markets. The team submitted empirical analyses of competition in wholesale electricity markets to the DOJ and supported LS Power in its response to the DOJ’s Second Request.
The Econic team included Dr. Josephine Duh, Dr. Ka Hei Tse, Julia Platt, Dr. Jaewon Lee, Lucas Fox, Mwangangi Kalii, Misha Khan, Faith Allen, Antara Ramkumar, and Maksym Sherman. The Econic team worked closely with LS Power’s outside counsel Robert Lepore and Agathe Richard of Willkie, Farr & Gallagher, Fiona Schaeffer, Grant Bermann, Jennifer Fauver, and John Ceccio of Milbank, and Greg Heltzer of McDermott, Will & Schulte.
