Energy giant makes Houston sole headquarters in massive move
Power player NRG Energy is laser focused on Houston. The Bayou City will be the energy giant's new sole headquarters; the company will no longer split between Houston and Princeton, New Jersey.
The move to a single headquarters simplifies business operations, as a large number of the company's employees and customers reside in Texas, the company noted in a press release and report.
The company, having recently acquired Direct Energy, will maintain regional offices in the markets that it serves and "evaluate real estate needs and consolidate as appropriate," the report adds.
Mayor Sylvester Turner welcomed the news in a statement, relaying that he and his team have had "substantive conversations" with NRG president and CEO Mauricio Gutierrez. "I believe the decision is confirmation that Houston is a smart city for business," said Turner.
Texas Gov. Greg Abbott also chimed in, adding in part:
With this move, NRG joins 50 other Fortune 500 companies headquartered in Texas, including 22 in the Houston area alone. America's leading businesses continue to invest in Texas — and grow jobs in Texas — because of our welcoming business climate, low taxes, reasonable regulations, and our young, growing, and skilled workforce.
I thank NRG Energy for designating Texas — the energy capital of the world — as their corporate headquarters, and I look forward to our continued partnership as we ensure a more prosperous future for all who call the Lone Star State home.
Turner noted that more than a year ago, the City of Houston committed to purchasing 100 percent renewable energy through a renewed partnership with NRG Energy as the City's retail electric provider. "The plan is helping us build a more sustainable future, save over $9 million on our electric bill, and reduce emissions," he said.
NRG Energy boasts some 3,000 employees in Houston alone. In its report, the company reported a net loss of $83 million due the impact of Winter Storm Uri.
This article originally ran on CultureMap.