Retail energy provider Direct Energy, which is currently working to set up shop in Houston after moving out of its Canadian headquarters, announced on August 23 that it had completed the acquisition of Energetix Inc. and NYSEG Solutions Inc.
According to the Houston Business Journal, both companies are based in New York, and supply retail electricity and natural gas to about 245,000 residential and business customers in the Northeast. By taking the companies under its wing and acquiring their New York and Pennsylvania customers, Direct Energy has expanded its ratepayer base in the Northeast to about 1.3 million.
Direct Energy, a subsidiary of the UK's Centrica Plc, has several retail energy operations in Texas, including First Choice Power, CPL Retail Energy and WTU Retail Energy. The power company has been actively expanding its customer base, which has in turn prompted the company to continue hiring. Now, its Houston offices employ about 500 workers, while it has a workforce of 2,000 throughout the state.
Texas is home to several independent electric suppliers, as the state has for 10 years had a deregulated energy market that has fostered a competitive environment.