Commitments Report Card: May 1, 2008

Download the Commitments Report Card as a pdf.


  COMMITMENT STATUS
Energy Future Holdings Ongoing Reorganize the company into three separate and distinct business units with separate boards, management teams, and headquarters Oncor continues to operate independently; 10/07: CEOs announced for each business unit; 2/08: Oncor independent board members announced & Luminant HQ moved to Lincoln Plaza; 3/08: TXU Energy HQ moved to Irving
Ongoing Maintain headquarters for each business in the DFW area Luminant and Oncor will remain in Dallas; TXU Energy moved to new Irving headquarters (in the DFW area)
Ongoing Hold majority ownership in EFH Corp. and Oncor for at least five years 10/07: Ownership transferred; hold period started
Done Create a Sustainable Energy Advisory Board (SEAB) to strengthen environmental policies and institute corporate policies tied to climate stewardship 3/08:  SEAB created and will fulfill commitment through active, ongoing participation; first meeting planned for May ‘08.
Ongoing Maintain employee compensation, health benefits and retirement programs 10/07: Employee benefits transferred to EFH
TXU Energy Done Deliver 15% residential price cut to legacy PTB customers 10/07: Final price cut effective
Ongoing Guarantee price protection against changing market conditions through December 2008 for those customers Price protection in place through December 2008 for eligible residential customers
Ongoing Provide $150 million low-income customer assistance over five years ($125 million, 10% discount for qualifying customers and $25 million, bill payment assistance) 11/07: Completed workshops for social service agencies. Funding in progress for 2008; 4/08: Announced formation of the Low Income Advisory Committee (LIAC) and first meeting held.
Ongoing Waive deposits for certain residential customers Summer 2007: Implemented for low-income customers at least 62 years of age and for those with good payment history
Ongoing Form a new Low Income Advisory Committee comprised of leaders in the social service delivery sector 4/08: Announced formation of the LIAC and first meeting held.”
Ongoing TXU Energy to invest $100 million over five years in new tools for customers to manage their own electricity usage through innovative energy efficiency and conservation approaches Funding in progress for 2008; Power Monitor pilot program launched in South Texas
Luminant Done Terminate 8 planned coal units 10/07: Request submitted to formally terminate air permit applications
Ongoing Provide increased investment in alternative energy 7/07: Announced a joint development agreement with Shell WindEnergy Inc. for a 3,000-megawatt wind project in the Texas Panhandle; 12/4/07: Issued IGCC/gasification RFP
Ongoing Start planning process for two IGCC commercial demonstration plants to be located in Texas 12/07: IGCC RFP issued
In progress Offset 100% of key emissions from new coal-fueled power plants and reduce nitrogen oxides, sulfur dioxide & mercury emissions by 20% from 2005 total levels from coal-fueled power plants through nation's largest voluntary emissions reduction program 2/08: Released details of $1 billion voluntary emissions reduction program including new emissions control technologies to meet the offset and reduction commitments; 4/08: Phased construction underway.
Ongoing Double wind energy purchases to 1500 MW, and maintain status as the largest buyer of wind power in Texas Approaching 1000 MW in wind energy purchased; Maintaining largest purchaser status
Done Join the FutureGen Alliance 12/07: Joined the FutureGen Alliance
Ongoing Join USCAP 11/07: Applied for membership to USCAP
Oncor Done Voluntarily expedite 14.101 filing 4/07: Filed expedited 14.101 report with PUC including commitments regarding Oncor
Ongoing Minimum capital spending of $3.6 billion over a five-year period 1/08: In progress, to be fulfilled by 2012
Ongoing Aggressive demand reduction program including an additional 5-year, $100 million investment in conservation and energy efficiency Take a Load Off, Texas (energy conservation) workshops (Summer 2007), in-home energy audits, commercial audits
Ongoing No rate increase as a result of the transaction No rate increases
Ongoing No filing of a system-wide rate case until 2008 Oncor rate case filing expected by July 2008
Ongoing No new debt as a result of the transaction No incremental debt due to ongoing recapitalization
Ongoing Debt limited so that Oncor’s debt-to-equity ratio is at or below the assumed debt-to-equity ratio established by PUC Current ratio on target: 60% debt/40% equity
Done Agreement to resolve all outstanding 14.101 issues 10/07: Agreement in principle with PUC Staff and most major parties; 2/08: Awaiting final order.
Pending $72 million one-time retail customer credit Part of agreement in principle to settle 14.101 proceeding
In progress Annual reports to the PUC regarding these commitments To begin in early 2009, annually thereafter.