WTU Retail Energy is lowering prices for its residential Direct Electricity Plan customers for the second time in the last 13 months.
Effective September 4, all residential customers on the Direct Electricity Plan saw their electricity prices automatically reduced by at least 8 percent. Coupled with a 5 percent price-down that took effect in September of 2008, the resulting average annualized savings will be approximately $240 per household.
"WTU cares about its customers, and we value those customers who've made us their retail electricity provider of choice," said Paul Keene, Senior Director for WTU Retail Energy. "Continuing to reduce prices for our customers when they need it most, and when market conditions allow, is the right thing to do."
WTU continues to be focused on keeping prices as stable as possible to mitigate the impact of price and market volatility on its customers. "We're a long-term partner with our customers and our local communities," said Keene, who noted that prices for residential customers on the Direct Electricity Plan have only decreased since 2006.
WTU will also be lowering its prices for new customers, and encourages those who are shopping for their electricity service to take another look at WTU. The company offers both flexible options like the Direct Electricity Plan, as well as fixed-price plans at competitive prices.
With Texas' large dependence on natural gas-fired power generation, the sustained low wholesale cost of natural gas coupled with extensive development of wind-powered generation facilities in West Texas has allowed WTU to pass along its power-purchase savings to customers. WTU and its affiliate Direct Energy have invested in long-term agreements to purchase all of the output and associated renewable energy credits (RECs) from five West Texas wind farms, including Buffalo Gap, Buffalo Gap 2, and Buffalo Gap 3 located between Abilene and San Angelo.