TXU Energy today announced it has further reduced prices by 5 percent on its most popular residential plans, with completion of the merger. This 5 percent price cut brings the total amount of price reductions to 15 percent and keeps the commitment to lower prices.
Customers on the TXU Energy FlexProtectSM plan, TXU Energy FlexProtect+SM plan and the TXU Energy Freedom PlanSM in TXU Energy's traditional service territory will receive this price reduction. This results in a total 15 percent reduction for these customers since the beginning of the year. These price cuts provide a typical single-family household with annual savings of $395 as compared to the price in effect prior to January 1, 2007. The 10 percent price reduction has been in effect since June, and the company is preparing to implement the additional 5 percent price cut on customers' bills beginning October 25, 2007.
In addition to the price decrease, TXU Energy is also uniquely providing price protection against increases from changing market conditions, without requiring a long-term contract, through December 2008 at the 15 percent discounted level. TXU SESCO Energy FlexProtectSM customers will also receive the additional 5 percent discount and the same price protection at that discounted level through December 2008.
"We are competing by delivering lower prices and better value to meet customer demands," said Jim Burke, who remains Chief Executive Officer, TXU Energy. "In addition to offering customers one of the lowest prices in the state, we are providing service plans with price protection against increases, tools and programs to improve energy efficiency, expanded assistance for eligible low-income customers and dependable customer service."
TXU Energy's other commitments to customers include:
Energy Efficiency Tools. TXU Energy has been giving customers new tools to manage their own electricity usage through innovative energy efficiency and conservation techniques and products. TXU Energy is significantly expanding these programs, funded by a $100 million portion of the overall $400 million total investment in demand-side management programs announced as part of the merger agreement. These tools can help customers save even more by helping them use electricity more efficiently.
Customer Protection. New and enhanced protections for TXU Energy customers included reestablishing and expanding a disconnect moratorium for Summer 2007 to protect our most vulnerable customers, and deposit waivers for low-income residential customers who are at least 62 years of age and residential customers with a good electricity bill payment history.
Low-Income Assistance. The company has created TXU Energy AccessSM, a comprehensive, enhanced set of programs to assist eligible low-income customers. TXU Energy Access includes a commitment of $25 million per year for five years to ensure the continuation of the company's self-funded 10 percent low-income discount to an even larger number of qualified low-income customers. The company has also committed $5 million per year for five years to continue funding its successful TXU Energy AidSM program. These commitments represent a total commitment over the next five years of more than $150 million. Additionally, TXU Energy is forming a new Low Income Advisory Committee comprised of social service leaders to help TXU Energy identify specific challenges faced by low-income customers, and to generate innovative ways to help them overcome those challenges..
Customer Service. Along with its lower prices, TXU Energy is maintaining its focus on providing dependable customer service, 24 hours a day, seven days a week.
TXU Energy offers a full menu of products and services for residential and business customers to best meet individual needs. Service plans include one of the lowest prices in Texas, energy efficiency options, renewable energy plans, and other electricity-related products and services that offer flexibility and price protection. For more information about the many plans, products and services offered by TXU Energy, be sure to visit www.txuenergy.com/plans
TXU Energy is committed to delivering these price cuts and service enhancements to customers, while maintaining excellent customer service and current billing processes, so that the transition to new ownership will have no adverse effect on customers.
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About TXU Energy
TXU Energy, a subsidiary of Energy Future Holdings Corp., is a market-leading competitive retailer that provides electricity and related services to more than 2.1 million electricity customers in Texas. TXU Energy offers a variety of innovative products and solutions, allowing both its residential and business customers to choose options that best meet their needs, including 24/7 customer service, competitively priced electricity service plans, innovative energy efficiency options, renewable energy programs and other electricity-related products and services. Energy Future Holdings Corp., formerly named TXU Corp., is a Dallas-based energy holding company with a portfolio of competitive and regulated energy subsidiaries, primarily in Texas, including TXU Energy, Luminant and Oncor. Visit http://www.txuenergy.com for more information about TXU Energy.