COLUMBUS ― American Electric Power and its unregulated subsidiary AEP Retail Energy has reached an agreement to acquire BlueStar Energy Holdings Inc. and its independent retail electric supplier BlueStar Energy Solutions. The terms of the agreement are not being disclosed.
BlueStar, based in Chicago, provides electric supply for retail customers in Ohio, Illinois and other deregulated electricity markets. BlueStar has been in operation since 2002 and has approximately 21,000 customer accounts.
The transaction is expected to close by the end of March, pending regulatory approval from the Federal Energy Regulatory Commission and anti-trust review by the Department of Justice under Hart-Scott-Rodino. BlueStar’s operations will continue to be based in Chicago and will remain focused on providing retail electric service for residential, commercial and industrial customers in deregulated states, as well as demand response and energy efficiency services nationwide.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states.