Discount Power (TX) Named #1 On HBJ List Of Fastest-Growing Private Companies, Reports Revenue
Discount Power (Texas), a Houston-based retail electricity provider, today announced that the company ranks No. 1 in Houston Business Journal’s (HBJ) 2017 Fast 100 list of fastest-growing private companies in Houston.
The HBJ Fast 100 list is based on revenue growth between fiscal year 2014 and fiscal year 2016. Discount Power secured the No. 1 spot, with revenue growth of 881 percent. Growth percentages of the other 99 companies recognized ranged from 2.03 percent to 320.1 percent.
Discount Power reported revenues of $98.1 million in 2016 and projects revenues of about $150 million for 2017.
“Customers are different, and have different electricity needs,” said Mohsin Hassan, Chief Operating Officer of Discount Power. “It is our unique market segmentation-based business model that has enabled us to grow exponentially and succeed in a highly competitive market. It is even more gratifying that this high growth is coming in an environment where most of the other entities in this market are having trouble just maintaining their existing customer base,” said Hassan.
Discount Power plans to continue to expand offerings throughout Texas and outside of the state in 2018. The company announced in late October that its residential customer equivalent (RCE) count crossed 200,000; the company expects to reach the 100,000-customer mark by the end of this month.