Texas electricity market loses leading retailer

The withdrawal of troubled energy retailer New Power from the electricity market in Texas may slow the deregulation process, state officials have warned.

New Power pulled out of the market in June as a result of its ongoing financial problems. A spokesman for the Public Utilities Commission of Texas (PUCT), the state regulatory body, says the withdrawal of New Power may put the brakes on competition – but only in the short term.

“New Power was one of the most active retail companies in Texas, and