EX-99.1
2
a06-5703_1ex99d1.htm
PRESS RELEASE DATED FEBRUARY 23, 2006
Exhibit 99.1
For more information:
Pat Hammond,
media, (713) 497-7723
Kevin
Kremke, investors, (713) 497-5468
For
immediate release:
Feb. 23,
2006
Reliant Energy
Completes Sale of New York City Power Plants
HOUSTON - Reliant Energy today completed the previously announced sale
of its three New York City power plants for approximately $975 million to
Astoria Generating Company Acquisitions, LLC, an entity formed by an investor
group led by Madison Dearborn Partners and New York City-based US Power
Generating Company.
The generating assets involved in the sale include the Astoria, Gowanus
and Narrows plants, which have a combined summer capacity rating of
approximately 2,100 megawatts. Net unrestricted proceeds from the sale will be
used to reduce debt.
Reliant Energy, Inc.
(NYSE: RRI) based in Houston, Texas, provides electricity and energy services
to retail and wholesale customers in the United States. In Texas, the company
provides service to approximately 1.9 million retail electricity customers,
including residential and small business customers and large commercial,
industrial, governmental and institutional customers. Reliant also serves
commercial, industrial, governmental and institutional customers in the PJM
(Pennsylvania, New Jersey and Maryland) market.
The company is
one of the largest independent power producers in the nation with approximately
16,000 megawatts of power generation capacity across the United States. These
strategically located generating assets utilize natural gas, fuel oil and coal.
For more information, visit http://www.reliant.com/corporate.
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EX - 99 . 1 2 a06 - 5703 _ 1ex99d1 . htm PRESS RELEASE DATED FEBRUARY 23 , 2006 Exhibit 99 . 1 For more information : Pat Hammond , media , ( 713 ) 497 - 7723 Kevin Kremke , investors , ( 713 ) 497 - 5468 For immediate release : Feb. 23 , 2006 Reliant Energy Completes Sale of New York City Power Plants HOUSTON - Reliant Energy today completed the previously announced sale of its three New York City power plants for approximately $ 975 million to Astoria Generating Company Acquisitions , LLC , an entity formed by an investor group led by Madison Dearborn Partners and New York City - based US Power Generating Company . The generating assets involved in the sale include the Astoria , Gowanus and Narrows plants , which have a combined summer capacity rating of approximately 2,100 megawatts . Net unrestricted proceeds from the sale will be used to reduce debt . Reliant Energy , Inc . ( NYSE : RRI ) based in Houston , Texas , provides electricity and energy services to retail and wholesale customers in the United States . In Texas , the company provides service to approximately 1 . 9 million retail electricity customers , including residential and small business customers and large commercial , industrial , governmental and institutional customers . Reliant also serves commercial , industrial , governmental and institutional customers in the PJM ( Pennsylvania , New Jersey and Maryland ) market . The company is one of the largest independent power producers in the nation with approximately 16,000 megawatts of power generation capacity across the United States . These strategically located generating assets utilize natural gas , fuel oil and coal . For more information , visit http://www.reliant.com/corporate . # # #
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