TXU Acquires Customers of Texas Retail Provider January 9, 2013 Email This Story Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • email@example.com
TXU Energy has acquired the residential and commercial customers of Mega Energy.
"Mega Energy and TXU Energy reached an agreement that allows TXU Energy to acquire Mega Energy's customers. That means Mega Energy customers will now be transferred to TXU Energy," TXU states in an online list of frequently asked questions concerning the transition.
Though the specific date on which the acquisition was executed was not immediately clear, it is apparently very recent, as TXU has informed Mega customers that they may still receive their December bill and a final bill from Mega Energy, depending on the meter read date.
The acquisition is notable because TXU, especially recently, has not traditionally built its book through acquisitions, unlike several of its largest competitors.
TXU stated that customers would be transitioned from Mega Energy to TXU, "over the next few weeks."
"Your rate will be at or below your current rate with Mega Energy. Your remaining term length will not change," TXU informed customers.
"If you were on a term plan with Mega Energy, you are being transitioned to an equivalent term plan for the duration of your term and subject to an equal or lower Early Cancellation Fee than the one that was listed in your Mega Energy Terms and Conditions. If you were on a month-to-month plan with Mega Energy, you were transitioned to a TXU Energy month-to-month plan," TXU informed customers.
Terms of the transaction were not immediately available.