Energy Future Holdings Corp., the Texas power producer taken private in the largest-ever leveraged buyout, said it won’t submit its annual report on time as talks with creditors on a potential bankruptcy plan continue.
The failure to submit the 10-k today puts Energy Future in breach of covenants with its creditors, the Dallas-based company said in a filing with the U.S. Securities and Exchange Commission. Energy Future said March 31 that it missed $109 million in debt payments and has until May 1 before it’s in default.
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Is a policy analyst for TCAP, a coalition of cities and other political subdivisions that purchase electricity in the deregulated market for their own governmental use. Because high energy costs can impact municipal budgets and the ability to fund essential services, TCAP, as part of its mission, actively promotes affordable energy policies. High energy prices also place a burden on local businesses and home consumers.