Flash: TXU Parent Continues to Cut Net Customer Churn

Energy Future Holdings Corp., the parent of TXU Energy and 4Change Energy, continued to cut the net rate of residential customer churn for the second consecutive quarter, Energy Future Holdings disclosed in a 10-Q filed this morning.

Specifically, EFH reported in its 10-Q that its retail businesses were serving 1.524 million residential meters as of September 30, 2013, versus 1.532 million residential meters as of June 30, 2013, and 1.566 million a year ago.

This net churn of only 8,000 residential customers since June 30, 2013 is below the net churn of 14,000 residential customers experienced from March 31, 2013 to June 30, 2013, as well as from December 31, 2012 to March 31, 2013.

EFH retail companies were serving 176,000 small business meters (< 1 MW) as of September 30, 2013, which is even with the total as of June 30, 2013, and also a year ago.

EFH retail companies were serving 17,000 large business meters as of September 30, 2013, which is even with the total as of June 30, 2013, and also a year ago.

Total EFH retail customer count was 1.717 million as of September 30, 2013, versus 1.725 million meters as of June 30, 2013, and 1.759 million a year ago.

EFH retail electricity revenues were $1.376 billion for the quarter ending September 30, 2013, a decrease of $15 million versus the year-ago period. The decline reflects a $58 million decline in sales volumes partially offset by $43 million in higher average prices. Sales volumes fell 4% reflecting declines in both the residential and business markets. Residential volumes reflected a 3% decline in customer counts. Business markets volumes [sic] declined 6% reflecting competitive intensity and changes in customer mix. Weather did not have a significant effect on volume changes.

Overall average retail pricing increased 3% driven by residential markets and due in part to higher delivery fees incurred and passed on to customers.

EFH also made public this morning various restructuring proposals which have been subject to negotiations, click here for 8-K describing the proposals

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