Texas Attorney General Ken Paxton, working with the Department of Justice under President Trump, reached an antitrust settlement to protect competitive electricity markets. The $26.6 billion merger between Constellation Energy and Calpine Corporation will not proceed without the divestment of two power plants, the Attorney General’s office announced.
The settlement aims to prevent potential electricity price increases for Texans. Constellation and Calpine are major players in the Texas energy market, operating within ERCOT, which serves over 27 million residents. ‘My responsibility is to protect Texans from any arrangement that threatens to raise prices,’ Paxton said, calling the settlement a win for consumers and market fairness, according to Attorney General Paxton.
Before the settlement, the merger could have allowed Constellation to manipulate market prices by withholding electricity, potentially raising wholesale costs by $100 million annually and affecting Texas families and businesses.
Attorney General Paxton emphasized his commitment to an affordable and transparent electricity market in Texas. ‘This settlement means lower prices for Texans and helps ensure that no company can exploit its market position,’ Paxton said, reaffirming his focus on protecting consumers.
