Energy Future Holdings faces the prospect of bankruptcy — perhaps in just a few weeks. How is it that the state’s largest electric company now finds itself in such dire straits? And how would an EFH financial collapse impact you?
The Texas Coalition for Affordable Power has released a new Snapshot Report on the plight of the north Texas electricity giant. You can find the brief examination here. In just a few short pages it provides all the quick facts you need to understand this important business story, plus key historical context.
EFH was formed in 2007, after a group of investors leveraged more than $40 billion in debt to acquire the former TXU Corporation. It was the largest leveraged buyout in history.
The background brief provides a quick history of the buyout, and also examines the three…
The future of Texas electricity markets could be in the hands of the legislature in 2015.
The Public Utility Commission decided Thursday to postpone a workshop on electricity and resource adequacy indefinitely. It was originally scheduled for May.
“They want to get more information that they won’t have by May so they’re postponing it for a later date to be determined later,” said Terry Hadley, a PUC spokesman.
The three-member PUC also decided not to…
Control No. 42331
3/25/2014 AGREED NOTICE OF VIOLATION AND SETTLEMENT AGREEMENT RELATING TO CONSTELLATION ENERGY COMMODITIES GROUP, INC.’S VIOLATION OF PURA 39.151, P.U.C. SUBST. R. § 25.503; RELATING TO FAILURE TO ADHERE TO ERCOT ZONAL OPERATING GUIDE § 1.8.2 RELATING TO SYSTEM OPERATOR TRAINING CRITERIA
As Texas’ population and energy sector continue to surge, debate has escalated on the future of the state’s electric grid and how to keep the lights on in homes while demand grows.
“Texas is, in a way, a victim of its own success,” said Manu Asthana, Houston-based Direct Energy Residential president, during IHS Energy CERAWeek Thursday.
ERCOT manages the electric grid for an overwhelming 85 percent of Texas and…
(Houston) While it is likely there will be more than enough US natural gas supply to meet demand, it is critical that the midstream sector make investments in needed takeaway capacity, energy company executives said Wednesday at IHS CERAWeek in Houston.
Both demand and production look set to increase, but there needs to be more spending infrastructure to ensure sustained higher prices in the future, Bill Maloney, executive vice president of development and production in North America for Statoil, said. “We believe North America has the capacity to supply far more natural gas than we are right now and at reasonable prices,” he said. “The biggest challenge is not…
The Electric Reliability Council of Texas expects to start the summer with tight reserves before an easing as new plants begin operations in late summer, according to reports released Wednesday.
ERCOT forecasts summer generation resources at 74,075 MW to serve an expected peak demand of 68,096 MW, which leaves a reserve capacity of 5,979 MW, according to the preliminary summer 2014 Seasonal Assessment of Resource Adequacy released Wednesday.
ERCOT’s all-time record peak of 68,305 MW occurred on August 3, 2011 during the hottest summer on record.
“While we anticipate sufficient generation for summer, conditions may become tight — potentially requiring conservation measures to protect the grid — if we see extremely high demand during the…