Constellation Energy will purchase StarTex Power for $142.5m in an all-cash transaction, following a definitive merger agreement.
The acquisition will offer Constellation Energy a foothold in the Texas residential market and will bring its closer to its goal of one million mass market customers by the end of 2011.
StarTex Power is a US-based retail electric provider with approximately 170,000 customers.
Two weeks ago, Constellation Energy also announced a definitive agreement to acquire 100% of MXenergy, a US-based supplier of natural gas and electricity.
MXenergy has more than half a million customers in 15 states and two provinces in Canada.
Constellation Energy also offers energy solutions to control energy use, reduce greenhouse gas emissions and utilize sources of renewable energy, as part of its commitment to environmental stewardship.