PA-Based Talen Energy (Elec Generator) Sells NatGas Trading Biz

Talen Energy was birthed in June 2015–a combination of PPL Energy Supply and certain assets of Riverstone Holdings. The company, headquartered in Allentown, PA, is one of the largest competitive energy and power generation companies in North America. Talen owns or controls 16,000 megawatts of generating capacity in wholesale power markets, primarily in the Northeast, Mid-Atlantic and Southwest regions of the U.S. Talen has gotten into converting and building natural gas-fired electric plants, stories we’ve covered over the past few years (see our Talen Energy stories here). At one time Talen employed around 500 people in Allentown at its HQ. In summer 2016 the company announced layoffs for 131 people. In May of this year, the trend continued (see Allentown-Based Talen Energy (Elec Generator) Laying Off Workers). Now comes word that the company is selling off its natural gas trading business for $54 million, transferring another 11 Talen employees from its Allentown HQ to the company buying the business. Talen considers buying and selling natgas on the commodities markets as “noncore” to its power generation business…

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