Industry Electric Utilities Type of business Privately Owned | Founded 2005 Area served Texas | |
Key people Bart Simmons, CEODavid Chase, GMKevin Hermann, CFO Parent Tristar Producer Services, Inc. Website www.texaspoweronline.com Headquarters | ||
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Texas Power is a retail electricity provider (REP) serving all deregulated electricity areas in Texas. They are located in Arlington, Texas. Texas Power bills customers for electric service provided by the power distribution companies.
Contents
Texas Power services roughly 20,000 residential electricity customers. Texas Power also serves small, medium and large commercial accounts.
History
In 2002, Texas deregulated the electricity market and in 2005, Texas Power joined in. They now compete against other energy companies like Glacial Energy, Champion Energy, TXU, Bounce Energy, Reliant Energy, MXenergy, Direct Energy, Stream Energy, Gexa Energy, Cirro Energy. Jon Fearing, of the company's risk management department, played an integral role in the company's growth over the years.
Hurricane Katrina
When Hurricane Katrina hit on August 29, 2005, it hurt several pipelines that helped to supply power to Texas companies. This decrease in supply resulted in a rising price to consumers in the aftermath of the hurricane