TXU Energy plans to cut some residential electric rates by up to 15 percent.
The Dallas-based utility said in a news release Wednesday that more than 250,000 customers will see their rates automatically cut by August 10.
The cuts will average about 10 percent but could be as high as 15 percent depending on where the customers live, company spokesman Tom Stewart says.
TXU, which serves 2.2 million customers in Texas, says it's cutting rates because of lower wholesale electricity prices.
Stewart says the company also is offering lower rates starting August 1st to new customers who switch from other companies and to
existing customers who want longer-term plans.
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