EXHIBIT 99(a)
NEWS [TXU LOGO]
RELEASE
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1601 Bryan Street
Dallas, Texas 75201-3411
FOR IMMEDIATE RELEASE
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HIGH GAS PRICES LEAD TO TXU ENERGY REQUEST
TXU's Price to Beat Remains Lowest in Texas
DALLAS - JULY 23, 2003 - TXU Energy today filed a request with the Public
Utility Commission of Texas to raise the company's electricity prices for North
Texas customers, in order to reflect the higher market price of natural gas. The
change would raise an average monthly residential electric bill of a customer
using 1,000 kilowatt hours by 3.7 percent or $3.61 per month. The Commission has
45 days, or as soon as practical thereafter, to review the company's request.
"While we understand that any increase is difficult for our customers, we work
hard to keep our prices competitive," said Carl Bracy, TXU Energy senior vice
president. "When this change goes into effect, our Price to Beat will still
remain the lowest in the state."
The Texas Electric Choice Act allows for changes in electricity prices when
natural gas or purchased power prices increase or decrease beyond the threshold.
This flexibility contributes to making Texas the most competitive electricity
market in the United States. Natural gas is a key component in generating
electricity and as gas prices rise, the price of electricity also increases. TXU
Energy's request to the PUC reflects the higher market prices.
TXU Energy is a subsidiary of TXU (NYSE:TXU), a major energy company with
operations in North America and Australia. TXU manages a diverse energy
portfolio with a strategic mix of over $32 billion of assets. TXU's distinctive
business model for competitive markets integrates generation, portfolio
management, and retail into one single business. The regulated electric and
natural gas distribution and transmission businesses complement the competitive
operations, using asset management skills developed over more than a hundred
years, to provide reliable energy delivery to consumers and earnings and cash
flow for stakeholders. In its primary market of Texas, TXU's portfolio includes
19,000 megawatts of generation and additional contracted capacity with a fuel
mix of coal/lignite, natural gas/oil, nuclear power and wind. TXU serves five
million customers in North America and Australia, including 2.7 million
competitive electric customers in Texas where it is the leading energy retailer.
Visit www.txucorp.com for more information about TXU.
This release contains forward-looking statements, which are subject to various
risks and uncertainties. Discussion of risks and uncertainties that could cause
actual results to differ materially from management's current projections,
forecasts, estimates and expectations is contained in the company's SEC filings.
The risks and uncertainties set forth in the company's SEC filings include TXU's
ability to negotiate satisfactory terms and obtain all necessary governmental
and other approvals and consents for the sale of TXU Communications, prevailing
government policies on environmental, tax or accounting matters, regulatory and
rating agency actions, weather conditions, unanticipated population growth or
decline and changes in market demand and demographic patterns, changing
competition for customers including the deregulation of the U.S. electric
utility industry and the entry of new competitors, pricing and transportation of
crude oil, natural gas and other commodities, financial and capital market
conditions, unanticipated changes in operating expenses and capital
expenditures, legal and administrative proceedings and settlements, inability of
the various counterparties to meet their obligations with respect to financial
instruments, and changes in technology used and services offered by TXU Corp.
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MEDIA: INVESTOR RELATIONS:
Kimberly Morgan Chris Schein Tim Hogan Laura Conn Rose Blessing
214/812-7581 214/812-5338 214/812-4641 214/812-3127 214/812-2498
214/543-1251 cell 214/534-0087 cell thogan@txu.com laura.conn@txu.com rblessing@txu.com