NRG buying electric, natural gas units of Stream Energy

NRG Energy plans to buy the retail electric and natural gas business of Dallas-based Stream Energy for $300 million.

The company announced the cash deal on Monday. The proposed acquisition of Stream Energy faces regulatory approval. The purchase is expected to close later this year.

NRG has headquarters in Houston and Princeton, New Jersey.

Its retail companies, including Reliant Energy, serve more than 3 million customers in 10 states and the District of Columbia. The list includes Texas, Pennsylvania, Ohio, Illinois, New Jersey, New York, Massachusetts, Connecticut, Maryland and Georgia.