Gexa Energy
From Wikipedia, the free encyclopedia
Gexa Corporation (doing business as Gexa Energy) is located in Houston, Texas and is a retail electricity provider (a “REP”) active in the deregulated Texas electricity market.
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[edit] Background
Gexa Energy sells electric energy and provides the related billing, customer service, collections and remittance services to residential and commercial customers. The Texas regulatory structure permits independent REPs such as Gexa Energy to procure and sell electricity at unregulated prices and pay the local transmission and distribution utilities a regulated tariff rate for delivering electricity to the customers.
Gexa Energy is one of the largest non-incumbent REPs (i.e., not affiliated with a utility) operating in Texas that focuses on customers whose peak demand is under one megawatt (defined by the PUCT as “price-to-beat” commercial customers), either as measured by total megawatt hours sold and by customer count.[citation needed] The majority of Gexa Energy's customers are located in the Houston and Dallas markets, although a growing number are located in a variety of other metropolitan and rural areas in south and west Texas, such as Corpus Christi and Lubbock.[citation needed] Competitors include StarTex Power, TXU, and Reliant Energy.
The firm focuses its sales efforts on the < 1 megawatt commercial and the residential multi-family apartment community segments and employs several low cost marketing strategies to further penetrate the single-family residential market (including co-marketing partnerships with the frequent flyer programmes of Continental Airlines and American Airlines).
[edit] History
Gexa Energy was approved in August 2001 by the Public Utility Commission of the State of Texas ("PUCT") to become a REP in Texas and is also licensed to supply retail electricity power to the Massachusetts electricity market and other jurisdictions.
In June 2005 it was acquired by FPL Group in a transaction valued at approximately $81 million.
Gexa Energy has over $273 million in revenue as of 2004. It serves 80,000 residential and 20,000 commercial meters as of June 2005.
Gexa currently has an "unsatisfactory" record with the Better Business Bureau of Metropolitan Houston due to a high volume of unanswered complaints.[1]
