The Public Utility Commission of Texas (PUCT) officially approved Gexa as a licensed REP in August 2001. The company began serving its first residential and commercial customers in January 2002, the same month the market officially opened.
In 2002, most Texans were still enrolled with the former monopoly providers (the “Provider of Last Resort”). Gexa had to convince consumers to switch to a company with no physical infrastructure. Their strategy was aggressive pricing and transparent, fixed-rate plans—a novelty in an industry used to volatile, regulated rates. gexa energy founding year history
A major turning point in Gexa Energy's history occurred in , when it was acquired by FPL Group (now known as NextEra Energy, Inc. ) for approximately $80.6 million. The Public Utility Commission of Texas (PUCT) officially
Gexa Energy is one of the oldest and most established retail electricity providers (REPs) in Texas, with a history tied closely to the state's deregulation of the energy market. Gexa had to convince consumers to switch to