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TXU Rolls Out New eLease Program Aimed At Renters, Property Owners; Includes "True Fit" Product Guarantee

TXU Also Launches Power Bank Plan, Flat Rate For Blocks, Allowing Customers To Carry Over (Bank) Unused Power

Also Offering Renters Plan With 12-Month Fixed Energy Charge With No Early Termination Fee

April 11, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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TXU Energy has rolled out a new program and digital platform called eLease, for multifamily dwelling renters and landlords.

Of eLease, TXU says, "Introducing the fast and easy way to get your lights turned on. Just tell us a little about you and your apartment and we'll handpick the best deals for you. Plus, you'll get our True Fit Guarantee."

Under the True Fit Guarantee, customers can change their plan anytime with no penalty.

"True Fit means you always have the best plan, no matter what life throws at you. If your needs change, you can change your plan anytime for free. No hidden fees, no penalties, no problems," TXU says

"Take your plan with you if your plans change and you move," TXU says

Under the True Fit Guarantee, for any cancellation fee to be waived, the new plan must have a term equal to the balance of the existing term, and be no less than 12 months. The guarantee applies to multifamily customers only. The otherwise applicable cancellation fee applies if the customer switches providers.

The eLease program also facilitates customers selecting a TXU plan by asking them several lifestyle questions to tailor product plan suggestions for them, such as lease term length, whether roommates will be splitting payments, and how customers will use electricity during the day (e.g. is someone home during the day or not). Customers are then presented several top recommendations, and can also review additional plans

TXU also emphasized that customers signing up by 6:30 p.m. can get their lights turned on the same-day, for customers with AMS meters

eLease is also built for landlords to refer residents to the TXU eLease website, with a streamlined referral process. With the eLease website tailored plans based on customer inputs, leasing specialists no longer have to recommend specific electricity plans.

The eLease program allows customers to have proof of service automatically sent to the landlord.

TXU Energy also announced two new products geared toward renters: Power Bank and Energy On Your Terms

TXU's Power Bank plan features a flat monthly charge for blocks of power, and allows customers to bank unused usage associated with a monthly block to carry it over and apply it to overages in a future month. Specifically if usage in a billing period is below the purchased block (Plan Allowance), the unused kWhs (Banked kWh) carry over to the next billing period’s Banked kWh Starting Balance.

In the Oncor service area, the TXU Energy Power Bank (1000) 12 month plan includes a base charge of $109. There is no usage charge for usage 0-1,000 kWh. A kWh charge of 11.5¢/kWh applies to usage above 1,000 kWh. The 11.5000¢ per kWh Energy Charge above applies to all usage in excess of the Plan Allowance (Energy Charge - Add’l Usage) unless a Banked kWh Starting Balance is available. Banked kWhs automatically apply to usage in a billing period that exceeds the Plan Allowance.

There is no restriction on the amount of Banked kWhs that may be accumulated during the term of this plan. Customer may only transfer an unused Banked kWh Ending Balance to another eligible TXU Energy Power Bank plan. Otherwise, unused Banked kWhs are non-transferable and expire if the customer moves out, switches providers, changes plans or renews to a non-TXU Energy Power Bank Plan. Banked kWhs have no cash, credit or other redemption value

For Power Bank (1000) 12, the all-in average rate at 1,000 kWh is 10.9¢/kWh. An early cancellation fee of $150 applies

TXU's Energy On Your Terms plan is an indexed plan with a month to month term, a fixed energy charge, and no early termination fee. In the Oncor service area, TXU's Energy On Your Terms plan has an average all-in rate at 1,000 kWh of 11.5¢/kWh, reflecting a $4.95 base charge, an 8.7¢/kWh energy charge, a pass-through of TDU charges, and a $15 credit which applies when the customer uses 800 kWh or more.

The Base Charge or Energy Charge will not change for at least 12 months

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