| Florida Power & Light |
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HistoryFPL was founded in 1925 by merging together a number of smaller companies providing power and other services to local communities in Florida, and grew rapidly due to the rapid growth in population that state has experienced. In June 20, 2005, FPL Group completed acquisition of Gexa Energy[1], a retail electric provider located in Houston and active in the deregulated Texas electricity market. At the time of acquisition, Gexa Energy had grown to over $273 million in 2004 revenues and further had been serving 100,000 total meters within the state of Texas. FPL Group acquired Gexa Energy for approximately US$81 million. In December 19, 2005, FPL Group, Inc. announced it was purchasing Constellation Energy in a merger transaction valued at more than US$11 billion and would adopt "Constellation Energy" as its name for the post-merger entity. |
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