Energy Future Holdings

Keeping Our Promises

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With the 2007 merger, Energy Future Holdings and its owners laid out a range of 28 commitments to the state and its consumers and for the benefit of the environment. Most of these 28 commitments were to be completed in a five-year span. EFH and its businesses fulfilled all of the commitments within the five-year mark. The final report card is shown below, with a PDF version available here. Highlights include:

  • Reduction of 11 previously planned new coal units to three and voluntarily reducing key emissions from the coal-fueled power generation fleet to 20 percent below 2005 levels.
  • A $150 million, five-year commitment to low-income customer assistance. (More information about TXU Energy's bill-payment assistance and community involvement can be found here.)
  • A 15 percent retail price cut for approximately one million retail customers.
  • Strong environmental policies, including a $400 million investment in energy efficiency, support for development of alternative energy, doubling wind-energy purchases and corporate policies tied to climate stewardship.
  • Creation of a Sustainable Energy Advisory Board to provide input from environmental, economic, customer, reliability and technology viewpoints. (More information on SEAB is available here.)
  • Investment of $100 million over five years through 2012 in new tools for customers to manage their own electricity usage through innovative energy efficiency and conservation approaches. (More information about TXU Energy's innovations for residential customers is available here.)

Energy Future Holdings

TXU Energy

Luminant

Oncor

Commitments Report Card

 

Commitment

Fulfilled

Energy Future Holdings

Reorganize the company into three separate and distinct business units with separate boards, management teams and headquarters.

Maintain headquarters for each business in the DFW area.

Hold majority ownership in EFH Corp. and Oncor for at least five years.

Create a Sustainable Energy Advisory Board (SEAB) to provide input from environmental, economic, customer, reliability and technology viewpoints. (further detail)

Ensure employee compensation, health benefits and retirement programs.

TXU Energy

Deliver a 15% residential price cut to legacy PTB customers.

Guarantee price protection against changing market conditions through December 2008 for legacy PTB customers.

Provide $150 million in low-income customer assistance over five years, through 2012 ($125 million, ~10% discount for qualifying customers and $25 million in bill payment assistance). (further detail)

Waive deposits for certain residential customers.

Form a new Low Income Advisory Committee (LIAC) comprising leaders in the social service delivery sector.

Invest $100 million over five years through 2012 in new tools for customers to manage their own electricity usage through innovative energy efficiency and conservation approaches. (further detail)

Luminant

Terminate eight planned coal units.

Provide increased investment in alternative energy.

Start planning process for two IGCC commercial demonstration plants to be located in Texas. (further detail)

Offset 100% of key emissions from new coal-fueled power plants and reduce nitrogen oxide, sulfur dioxide and mercury emissions by 20% from 2005 total levels from coal-fueled power plants through nation's largest voluntary emissions reduction program. (further detail)

Double wind energy purchases to 1500 MW, maintaining status as the largest buyer of wind power in Texas. (further detail)

Join the FutureGen Alliance. (further detail)

Join USCAP. (further detail)

Oncor

Expedite voluntarily the company's 14.101 filing.

Make minimum capital spend of $3.6 billion for five years, through 2012.

Implement aggressive demand-reduction program including an additional five-year, $100 million investment in conservation and energy efficiency.

Implement no rate increases as a result of the transaction.

File no system-wide rate case until 2008.

Generate no new debt as a result of the transaction.

Limit debt so that Oncor's debt-to-equity ratio is at or below the assumed debt-to-equity ratio established by the PUC.

Agree to resolve all outstanding 14.101 issues.

Issue one-time, $72 million retail customer credit.

Provide annual reports to the PUC regarding commitments.


As of December 31, 2012