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Reliant Energy, Inc., based in Houston, Texas , is a non-utility, retail and wholesale Electricity provider. In Texas , it provides service to nearly 1.9 million retail electricity customers, including residential and small business customers and commercial, industrial, governmental and institutional customers. Reliant also serves commercial, industrial, governmental and institutional customers in the PJM ( Pennsylvania , New Jersey and Maryland ) market and is one of the largest independent power producers in the nation with approximately 16,000 megawatts of power generation. HISTORY In 2002, the state of Texas Deregulated The Electricity Market and Reliant now competes against other energy companies like Direct Energy , Stream Energy , Gexa Energy , Cirro Energy , and StarTexPower . Reliant Energy Incorporated (NYSE:REI) separated into two publicly traded companies: Reliant Resources, Inc. (NYSE: RRI) and CenterPoint Energy , Inc. (NYSE: CNP)in 2002. On Aug. 31, 2002, CenterPoint was created when Reliant Energy, Inc. (REI) merged with an indirect subsidiary of CenterPoint Energy, Inc. As a result of the merger, REI shareholders received one share of CenterPoint common stock in exchange for each share of REI common stock they held before the merger. A regulated utility, CenterPoint Energy became one of the largest U.S. energy delivery companies, serving 4.7 million metered customers. On Sept. 30, 2002, CenterPoint distributed the stock of its subsidiary, Reliant Resources, Inc. to CenterPoint shareholders. This spinoff created Reliant Resources with a strategy to provide competitive wholesale and retail energy service under the Reliant Energy brand. Its businesses included power generation and retail energy services in Texas’ newly deregulated electricity market. In March of 2004, Reliant announced that federal prosecutors are seeking a criminal indictment against subsidiary Reliant Energy Services and four of its employees for their alleged role in the , 2004 . {Link without Title} On April 26, 2004, Reliant Resources changed its name to Reliant Energy in order to align its brand name with its corporate name. The stock continued to trade under the symbol (NYSE: RRI) On Aug. 15, 2005, Reliant announced that it had reached a $445 settlement with the states of California, Oregon and Washington resolving civil litigation claims against the company related to the sale of electricity in the California Electricity Crisis of 2000 and 2001. As of Dec. 31, 2006, Reliant was the second largest mass market electricity provider in the state of Texas, with an annual revenue of $10.9 billion and more than 3,500 employees. On the wholesale side, Reliant owned, had an interest in or leased 37 operating power generation facilities serving five regions of the United States. In January 2007, the Texas electricity market became fully deregulated giving companies like Reliant an ability to provide customers with an array of products, flexible service options and pricing arrangements tailored to meet their specific needs. In February 2007, Reliant Energy announced plans for Mark Jacobs, current chief financial operator, to succeed Joel Staff as chief executive officer and for Brian Landrum to become chief operating officer, effective at the company’s 2007 annual meeting on May 16, 2007. In March 2007, Reliant Energy Services, a wholly owned subsidiary of Reliant Energy, reached an agreement with the U.S. Attorney pertaining to a trading incident that occurred on two days in June 2000. Reliant Energy Services agreed to pay a $22.2 million penalty in addition to a $13.8 million credit provided for in a previous settlement with the Federal Energy Regulatory Commission. NAMING RIGHTS Reliant Energy has the naming rights to Reliant Park campus, home to the Reliant Astrodome , Reliant Stadium , Reliant Arena and Reliant Center . ENVIRONMENTAL RECORD Researchers at the and Hydrochloric Acid as well as Manganese , Chromium , and Nickel compounds. Toxics Release Inventory courtesy rtknet.org SEE ALSO
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