Senator Chris Harris Response to KKR TPG and TXU

Austin Texas— State Senator Chris Harris (R- Arlington) worked diligently during the recently completed legislative session to see that bills intended to protect consumers and lower the price of electricity would become law.. Unfortunately most of the bills that would have added value for consumers and strengthened the recently deregulated electric market failed. 

"I am disappointed that we were unable to pass legislation to lower electricity prices and provided more choices between electricity providers” said Senator Harris . “We recognize Texas consumers needed a break from increased electricity prices and providing better protections and more competition in the market place is the best way to ensure affordable electricity".

"That is why I am pleased  to hear the announcement that KKR TPG and TXU have voluntarily agreed to cut rates and strengthen their obligations to their customers” continued Senator Harris.  “They have chosen to  uphold the  commitments they made to me during the intense debate over these bills.   and have complied with the will of the Legislature  and our demands regardless of whether they were forced to by  law”.

TXU has formally announced  a  commitment to their customers for a 15 percent price cut through the end of December of 2008. Their decision to follow many of the other suggestions Senator Harris made such as creating distinctly separate companies the reduction of proposed construction of coal-fired plants from 11 units to 3 units and the protection of low income and elderly customers is great news to all of those in the TXU service area.

 “This commitment shows that KKR TPG and TXU are committed to doing what is best for Texas and have heard the will of the people and the Texas Legislature. I am committed to protecting my constituents and all the rate pa