Wal-Mart Creates Its Own Electricity Company, Eyes Wind Power
Recently, Wal-Mart quietly created its own electricity company in Texas, called Texas Retail Energy, to supply its stores with cheap power bought at wholesale prices. According to the Dallas Morning News, this saves the world's largest retailer about $15 million annually and gives the company total control over its utility bills. Chris Hendrix, general manager of Texas Retail Energy, said he would consider buying a renewable-energy power plant, such as a wind farm, if the company can't find enough vendors to meet Wal-Mart's eventual goal of using only renewable power. Wal-Mart is also considering selling power to it's customers, but that's probably a long way off, if it does happen. See more in this article from Dallas Morning News.