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Headquartered in Houston, Texas, Reliant Energy, a subsidiary of NRG Energy, is one of the largest Texas electricity providers serving over 1.5 million Texans. [2] Reliant provides over 23 million megawatts of power annually [clarification needed] to residential and business customers. [3] Reliant Energy was founded in 2000. [4]
In 1999 Houston Industries changed its name to Reliant Energy. [4] Therefore HL&P was renamed Reliant Energy HL&P/Entex. When the state of Texas deregulated the electricity market, HL&P was split into several companies. [5] In 2003 the company was split into Reliant Energy, Texas Genco, and CenterPoint Energy. [6]
In 2003, Houston Industries was split into three companies. The power plants went to Texas Genco, CenterPoint Energy took over the distribution system, and the retail and wholesale electricity business became Reliant Energy. [28] In 2006, NRG Energy bought Texas Genco from a group of private equity firms for roughly $5.9 billion. [29]
Reliant Energy's power plants became a wholly owned subsidiary of Centerpoint Energy. The new company was known as Texas Genco. When the state of Texas deregulated the electricity market, the former Houston Lighting & Power (HL&P) was split into several companies. [4] In 2003 HL&P was split into Reliant Energy, Texas Genco, and CenterPoint ...
CenterPoint Energy, Inc. is an American utility company based in Houston, Texas, that provides electric and natural gas utility to customers in several markets in the American states of Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas.
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While this does mean a rate-easing cycle can adversely impact Bank of America's net interest income, it also means the company continues to benefit from the steepest rate-hiking cycle -- 525 basis ...
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