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TransCanada to sell retail power contracts to EDF Energy

TransCanada Corp. has agreed to sell its outstanding U.S. retail power contracts to EDF Energy Services LLC, as part of its plan to gradually retire TransCanada Power Marketing Ltd. operations.

The deal is slated for completion in the first quarter of 2018, subject to certain regulatory approvals, according to a Dec. 27 company release. Financial and other details of the transaction were not disclosed.

TransCanada announced its intention to wind down its TransCanada Power Marketing operations in June when it completed the divestiture of all of its remaining merchant generation power assets totaling 4,000 MW in the U.S. Northeast to an LS Power Equity Advisors LLC affiliate in a deal valued at about $2.1 billion.