Full Title: An Energy Future Holdings Bankruptcy
Author(s): N/A
Publisher(s): Texas Coalition for Affordable Power
Publication Date: March 1, 2014
Full Text: Download Resource
Description (excerpt):
Energy Future Holdings (“EFH”), the state’s largest electric company, has declared bankruptcy. Energy Future Holdings was born in 2007 — the product of a debt-heavy buyout of TXU Corp., the Dallas-based energy giant. The company soon began posting annual losses, and on April 29th, 2014, it filed for bankruptcy. The sheer size of the EFH collapse is worrisome. Luminant, its deregulated wholesale power company, controls nearly 20 percent of the capacity within the state’s principal electricity market. Oncor, its regulated wires company, owns more than 119,000 miles of transmission and distribution lines. The deregulated retail unit, TXU Energy, directly serves more than 1.7 million residential customers. What prompted this massive financial collapse and how will it impact rates? What does it mean for the Texas energy market?