Parent Company of Luminant and TXU Energy Out of Bankruptcy

TCEH Corp., which owns Luminant and TXU Energy, has finally emerged from bankruptcy proceedings. TCEH Corp. is the new company that is basically what’s left of Energy Future Holdings (the energy company that filed for bankruptcy protection about two years ago and owned Luminant, TXU Energy, and Oncor). The announcement came from Delaware Bankruptcy Court on Monday… Continue reading Parent Company of Luminant and TXU Energy Out of Bankruptcy

Key Energy Services Prepares for Bankruptcy

Houston-based Key Energy Services announced yesterday (Aug. 25th) that they have been in the process of working out a plan with creditors and plan to file for bankruptcy in November. The company had borrowed hundreds of millions during the shale oil boom but when oil prices tanked, they were unable to keep up with their… Continue reading Key Energy Services Prepares for Bankruptcy

More on the Energy Future Bankruptcy

On Wednesday (August 17th), Energy Future Holdings Corporation “urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in the largest U.S. bankruptcy since the financial crisis.” Their counsel stated that it was time to confirm a plan to emerge out of Chapter 11. You can read… Continue reading More on the Energy Future Bankruptcy

NextEra Outbids Rivals for Controlling Stake of Oncor

NextEra Energy has outbid its rivals for Energy Future Holding’s 80% stake of Oncor in an $18.4 billion deal. Oncor is based in Dallas and is Texas’ biggest power provider, delivering electricity to 10 million Texas homes. The sale was vital for Energy Future Holding, the former TXU Corporation. Energy Future Holdings has been going through bankruptcy proceedings since… Continue reading NextEra Outbids Rivals for Controlling Stake of Oncor

Energy Future is Restarting the Bankruptcy Process after the failed Oncor deal

“Energy Future Holdings Corp.’s protracted reorganization saga will restart this summer, when the company offers two separate proposals designed to replace a bankruptcy plan that fell apart this month under pressure from Texas regulators.U.S. Bankruptcy Judge Christopher Sontchi on Monday let the company seek approval of the pair of plans in succession. In August, the… Continue reading Energy Future is Restarting the Bankruptcy Process after the failed Oncor deal

Energy Future Holdings Bankruptcy Preparations

“Energy Future Holdings seeks $2Billion in loans in preparation for a chapter 11 bankruptcy petition. The Wall Street Journal reports that EFH, formerly TXU Corp., is looking to get $2 Billion in loans to operate before declaring a chapter 11 bankruptcy petition. The loan would go to Texas Competitive Electric Holdings, subsidiary of EFH and… Continue reading Energy Future Holdings Bankruptcy Preparations