Jan 13 — Texas’ largest power company has a new name, a new CEO and new growth opportunities, thanks to a long-running bankruptcy that wiped out $33 billion in debt.
So here’s what Vistra Energy, parent company for TXU Energy and Luminant, did after emerging from Chapter 11 in October. First, it cut 500 jobs, primarily in Dallas, and slashed other overhead by more than 50 percent. Then it borrowed $1 billion to pay a one-time cash dividend to the hedge funds that own the company.
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.