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TXU Corp. Earns Power Industry's 2004 Supplier Diversity Award

June 01, 2004

WASHINGTON  -- Edison Electric Institute (www.eei.org) today announced that TXU Corp. has earned the electric power industry's 2004 Supplier Diversity Excellence Award for its comprehensive efforts in advancing the development of minority and women-owned business enterprises (M/WBE) in the electric power marketplace. TXU last won this award in 1994.

TXU, a major energy company headquartered in Dallas, was recognized for a wide variety of initiatives to expand business opportunities for M/WBEs. These include:

   * Recognition by local M/WBE organizations for its expenditures, workforce
      diversity, and community contributions;
    * Annual corporate M/WBE expenditure goals to help facilitate continued
      progress;
    * A year-round focus on developing new and innovative company procurement
      approaches for working with M/WBEs.  This includes monthly meetings to
      review and discuss upcoming bid opportunities and a Supplier Diversity
      "Gold Star" Recognition Program to award company representatives for
      their efforts and contributions to the company's progress;
    * Innovative approaches to M/WBE development, including mentoring and
      procurement opportunities in non-traditional areas; and,
    * Encouragement for its non-minority business partners to include M/WBEs
      in TXU projects.

"TXU deserves this praise for its efforts to expand purchasing opportunities for minority and women-owned businesses," said EEI President Thomas R. Kuhn. "The company's efforts to broaden its supplier base keeps them among the nation's most competitive electric and natural gas delivery companies in the country. TXU's efforts also help the U.S. electric power industry to be among the strongest industries in the world."

"TXU is honored to receive the prestigious 2004 Supplier Diversity Award from the Edison Electric Institute," said Mike Greene, Chairman and Chief Executive of TXU Power and leader of strategic sourcing for TXU enterprise- wide. "TXU is committed to fostering diversity and promoting minority and women-owned business enterprises in Texas because it makes good business sense. We're proud of our progress and recognize that continuing our commitment will contribute to the continued success of our business."

TXU [www.txucorp.com] is a major energy company with operations in North America and Australia. TXU manages a diverse energy portfolio with a strategic mix of over $31 billion in assets. TXU's distinctive business model for competitive markets integrates generation, portfolio management, and retail into one single business. The regulated electric and natural gas distribution and transmission businesses complement the competitive operations, using asset management skills developed over more than 100 years, to provide reliable energy delivery to consumers and earnings and cash flow for stakeholders. In its primary market of Texas, TXU's portfolio includes approximately 18,500 megawatts of generation and additional contracted capacity with a fuel mix of coal/lignite, natural gas/oil, nuclear power and wind. TXU serves 5 million customers in North America and Australia, including 2.6 million competitive electric customers in Texas where it is the leading energy retailer.

For the past 20 years, EEI has recognized those electric companies who have demonstrated leadership in advancing purchasing opportunities for minority and women-owned businesses. Contracts with power companies during this time have gone from being written for such traditional services as office supplies and temporary personnel, to critical industry areas such as underground and overhead line construction, meter reading, nuclear engineering services and construction management, and pension fund management.

The 2004 Supplier Diversity Award was presented during the electric power industry's 21st annual awards' gala at EEI's Supplier Diversity Seminar in Houston.

Source: Edison Electric Institute

 

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