Champion Energy is a subsidiary of Champion Energy Holdings, owned 75% by Crane Holding Companies and 25% by EDF Trading North America.
The company serves more than two million residential customer equivalents (RCE), with a peak load of around 4,000MW.
This year, Champion expects to serve approximately 22TWh of residential, commercial and industrial customer, mainly in Texas and the northeast US.
Calpine president and CEO Thad Hill said: "Champion’s presence in Texas and the northeast makes it the ideal retail complement to our wholesale generation portfolio."
Champion president and CEO David Tudor said: "With the added strength of Calpine’s generation fleet, we are confident that we can continue to grow our business."
The transaction is expected to be closed in the fourth quarter, subject to customary closing conditions and approval from the Federal Energy Regulatory Commission.
Calpine generates electricity from natural gas and geothermal resources and owns 82 power plants with a combined generation capacity of approximately 27,000MW.
