Core Insights - The Federal Energy Regulatory Commission (FERC) has approved NRG Energy's acquisition of nearly 13 GW of natural gas-fired power plants and an additional 6 GW of generation assets for $12 billion [1] - The deal includes 18 natural gas-fired power plants across nine states and the acquisition of CPower, a virtual power plant platform with about 6 GW of contracted capacity [1] - FERC concluded that the acquisition would not negatively impact market competition, allowing NRG's generation capacity in the PJM market to increase from 2.1 GW to 9.5 GW [1] Company Impact - The acquisition is expected to nearly double NRG's generation fleet, enhancing its customized product offerings and ability to meet future energy demands [1] - NRG's CEO stated that the transaction strengthens the company's credit profile and accelerates growth, while also supporting robust capital returns [1] - The deal is anticipated to close in the first quarter of next year, positioning NRG to lead in the upcoming power demand supercycle [1]