Wednesday, June 6, 2007

TXU pays $5 million fine for bilking small businesses

By Pegasus News wire

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Photo not provided by TXU

Above: TXU's interpretive dance expressing their feelings about the state regulatory commission

DALLAS — According to a report in the Dallas Business Journal, it appears TXU has agreed to pay a $5 million fine leveled by the Public Utility Commission of Texas for allegedly defrauding small businesses with automatically renewed electricity subscriptions.

The PUCT cited over 4,000 cases in which TXU renewed services with a small business without the customer's permission. The renewed contracts were for an additional 12 months, a full 11 months longer than state law allows.

TXU denies any wrongdoing and disputes the PUCT's "interpretation" of state law, but has agreed to pay the fine to avoid costly legal fees.

Posted by Todd M.

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