Energy Futures Holdings Corp’s plan to sell its Oncor power distribution business for about $19 billion to fund its exit from bankruptcy will not close as expected, a company lawyer told a U.S. Bankruptcy judge on Thursday.
The lawyer said Texas’ largest power company will present an alternative plan for exiting bankruptcy and hopes to have that plan confirmed by the court in the coming months.
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Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.