Iberdrola Group, a Spanish power company, has expanded into the Texas electric retail market, according to The Houston Chronicle.
Iberdrola already owns and operates six wind farms in Texas and has about 100 million customers worldwide. It is not selling wind energy plans that are generated by the company's Texas wind farms, the newspaper reported.
The company began selling power in Texas in February after it was certified last year.
Iberdrola said earlier this month that it would be offering 100% sourced renewable energy within the state, according to an Iberdrola news release. It said in the release that what will make the company different from others is that its wind energy is generated from its own farms.
“We are excited to introduce Texans to a new energy option that bonds sustainability and affordability,” Laney Brown, president of Iberdrola USA’s retail business said in the release. “We know Texans are facing unprecedented challenges this summer, and our hope is to bring some relief from unclear and overpriced electricity bills by utilizing the state’s most abundant renewable resource, the wind.”
Iberdrola is the world's largest wind energy producer, and it established a presence in Texas more than a decade ago with its wind farms.
Iberdrola said in the release that all of its electric plans are at fixed prices with no hidden fees and can save customers up to $500 per year. It includes 12-, 24- and 36-month options.
At the bottom of Iberdrola's website, however, it says that Iberdrola Texas will match 100% of annual paid usage with renewable energy certificates (RECs) that are purchased from Texas wind facilities. It notes that the purchased electricity promotes the use of renewable energy equal to 100% of consumers' paid usage.
The Lonestar Standard reported last month that while the term "renewable energy credit" is a popular term used by green energy companies, it doesn't actually mean what people think it means. It means the companies can still use natural gas, coal or other power sources and it buys the equivalent amount of RECs to cover the amount of electricity it is actually using so it can claim its 100% renewable.
Texas is currently the top state for wind production in the country and is the fifth-largest wind producer in the world. It has created more than 25,000 jobs for Texas residents.