The former owners of Green Mountain Energy, the Wyly brothers, are presumably content with today’s announcement that Fortune 300 wholesale generation company, NRG (NYSE: NRG), has added Texas and New York clean energy provider, Green Mountain Energy, to its list of retail energy assets for a whopping $350 million in cash.

The Texas Electricitity industry will be looking for what this means for competition, as NRG recently acquired Houston energy giant, Reliant Energy in March 2009. It may come as a surprise to some that Reliant was picked up for less than Green Mountain Energy, at $287.5 million in cash.

Sources within the leading clean energy provider tell us that as a result of the acquisition, Texans and New Yorkers could see even more competitive pricing for their uniquely green and clean energy.

David Crane, President and CEO informs us that Green Mountain Energy brought added value to NRG in that NRG holds a substantial portfolio of wind, solar and biomass assets in markets where Green Mountain Energy is the leading renewable energy provider.

An important statement for existing customers of Green Mountain Energy comes from Green Mountain President and CEO, Paul Thomas; “Our customers will continue to be Green Mountain customers”. So, don’t expect to see any changes to your service as a result of this acquisition any time soon.