Retail Net Churn At TXU Parent Improves During 4th Quarter; Company Sees Gains Among Large Customers

Despite its ongoing restructuring, Energy Future Holdings' saw a decline in net retail customer churn during the three months ended December 31, 2014.

In a 10-K which supports recent comments from TXU Energy management which indicated that customers were not leaving the company due to EFH's restructuring, EFH's retail suppliers saw a net decline of only 3,000 residential customers from September 30, 2014 to December 31, 2014.

That compares to a net loss of 9,000 residential customers from June 30, 2014 to September 30, 2014; a net increase of 5,000 residential customers from March 31, 2014 to June 30, 2014; a net loss of 10,000 residential customers from December 31, 2013 to March 31, 2014 (the last full quarter prior to restructuring); and a net loss of 8,000 residential customers from September 30, 2013 to December 31, 2013 in the year-ago quarter.

As of December 31, 2014, EFH retail companies were serving 1.499 million residential customers, versus 1.502 million as of September 30, 2014, and 1.516 million a year ago.

EFH retail companies were serving 176,000 small business meters (< 1 MW) as of December 31, 2014, versus 177,000 as of September 30, 2014, and 176,000 a year ago.

EFH retail companies were serving 22,000 large business meters as of December 31, 2014, up from 20,000 as of September 30, 2014 and 17,000 a year ago.

Total customer count for the EFH retail companies was 1.697 million as of December 31, 2014, versus 1.699 million as of Sept. 30, 2014 and 1.709 million a year ago.

EFH's total retail customer count declined only 1% in 2014, an improvement versus a decline of 3% in 2013 and 4% in 2012.

EFH said that based on 2014 results, a 1% decline in residential customers would result in a decline in annual revenues of approximately $30 million

Total EFH retail provider electric volumes in 2014 were 38,511 GWh. Of this total, 21,910 GWh were residential volumes.

Total EFH retail provider revenues for 2014 grew 2% versus the year-ago to $4.4 billion, reflecting a $59 million increase in sales volumes and $15 million in higher average prices.