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The company was established in Houston shortly after the Public Utility Commission of Texas (PUCT) approved its license to become a retail electric provider in August 2001. By 2002, Gexa Corp was among the first wave of companies to enter the newly deregulated Texas electricity market, offering residential and commercial consumers an alternative to traditional utilities.

In 2005, a major turning point occurred when FPL Group (now ) acquired Gexa Corp in a deal valued at approximately $80.6 million. This acquisition integrated Gexa into the broader NextEra portfolio, allowing it to leverage massive clean energy infrastructure while maintaining its local Texas presence. 100% Renewable Energy Commitment gexa corp