DALLAS, Aug. 23, 2002 — The Public Utility Commission of Texas recently approved TXU Energy’s request to raise the company’s electricity prices for North Texas customers.
The change, which will be implemented immediately, will increase the average monthly residential electric bill by approximately $4.05 per month. Due to other reductions and discounts in 2002, and including this increase, the average September 2002 bill will be approximately $90.40, while the average bill in September 2001 was $101.32.
The Texas Electric Choice Act allows for changes in electricity prices when natural gas prices change. Natural gas is a key component in generating electricity and as gas prices rise, the price of electricity also increases. TXU Energy’s request reflects these higher market prices.
This protects the marketplace from artificial rates that can hamper competition and ultimately harm customers, which is what happened in California.
TXU Energy filed the request in April following months of natural gas price increases.
TXU provides electric and natural gas services, merchant energy trading, energy marketing, energy delivery, telecommunications, and energy-related services. With $41 billion in assets, TXU is one of the world’s leading energy companies and is a leading energy retailer in the U.S. and the world. TXU owns or controls extensive generation, and is a leading portfolio manager and trader globally. TXU, which sells over 330 million megawatt hours of electricity and 2.8 trillion cubic feet of natural gas annually, serves over 11 million customers worldwide, primarily in the U.S., Europe and Australia. Visit www.txu.com for more information about TXU.