Surprise! TXU Parent Gains Retail Customers During Bankruptcy

Not only have forecasts of accelerated churn at TXU during Energy Future Holdings' bankruptcy not yet come to fruition, EFH actually saw its retail customer count increase during the three months ended June 30, 2014, according to a 10-Q filed Friday.

Collectively, EFH's retail suppliers were serving 1.511 million residential customers as of June 30, 2014, up from 1.506 million residential customers as of March 31, 2014. EFH's retail suppliers had been serving 1.532 million residential customers as of June 30, 2013.

The net growth of 5,000 residential customers from March 31, 2014 to June 30, 2014 departs from the marginal net attrition during several recent quarters: a net loss of 10,000 residential customers from December 31, 2013 to March 31, 2014, a net loss of 8,000 residential customers from September 30, 2013 to December 31, 2013, and a net loss of 8,000 residential customers from June 30, 2013 to September 30, 2013. In the year-ago quarter, net residential churn had been 14,000 from March 31, 2013 to June 30, 2013.

The EFH companies sought bankruptcy protection at the end of April 2014, meaning two-thirds of the quarter ending June 30, 2014 occurred in the shadow of restructuring

EFH retail companies were serving 177,000 small business meters (< 1 MW) as of June 30, 2014, up from 173,000 as of March 31, 2014 and 176,000 a year ago. The net growth of 4,000 small business meters from March 31, 2014 to June 30, 2014 reverses a net loss of 3,000 small business meters from December 31, 2013 to March 31, 2014 and a flat small business customer count during the last months of 2013.

EFH retail companies were serving 20,000 large business meters as of June 30, 2014, up from 17,000 as of both March 31, 2014, and a year ago

Total EFH retail customer count was 1.708 million as of June 30, 2014, up from 1.696 million as of March 31, 2014 and versus 1.725 million a year ago.