Statement by Senator Troy Fraser (R-Horseshoe Bay) on TXU purchase:
"Over the past twelve months I have expressed concerns about the competitive market forces and their impact on residential electricity rates. The sale of TXU to a private equity firm only heightens those concerns. While I appreciate the involved parties willingness to address coal plants and carbon emissions, at the end of the day we must continue to protect ratepayers.
"Offering consumers a rate that is still above the market price only serves to further their current stranglehold on the residential market. At the end of the day, this transaction does nothing to improve competition forces throughout the state.
"I will continue to move forward with the legislation I filed several weeks ago. Those bills will ensure the competitive electric market is working, help lower rates and encourage consumer choice of retail providers."