TXU, Oncor Owners File For Chapter 11 Bankruptcy Protection

DALLAS (CBSDFW.COM) – The parent company for TXU Energy and Oncor has filed for Chapter 11 bankruptcy protection, the company announced on Tuesday.

Energy Future Holdings (EFH) says the agreement was reached with several financial stakeholders “to reduce its approximately $40 billion of debt, lower its annual cash interest costs, access significant additional capital and create a sustainable capital structure for the future.”

Oncor is not part of the Chapter 11 filing.

EFH is a Dallas-based holding company which owns TXU, Oncor, and Luminant.

TXU Energy currently serves more than 1.7 million customers in Texas. Luminant has approximately 15,400 MW of generation in Texas and is one of the largest purchasers of wind-generated electricity in Texas.

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http://dfw.cbslocal.com/2014/04/29/txu-oncor-owners-file-for-chapter-11-bankruptcy-protection/