DALLAS — Private-equity investors who bought Dallas-based electric utility TXU Corp. five years ago now see the company worth less than the $45 billion they paid and mired in debt.
Nevertheless, the company, now called Energy Future Holdings, is making multimillion-dollar retention bonus payments to executives and cash payments to private-equity holders, The Dallas Morning News reported.
Warren Buffett recently apologized to Berkshire Hathaway shareholders for spending about $2 billion on Energy Future bonds, which are now worth about $878 million, and conceded even that could be wiped out.
Continue to the Fort Worth Star Telegram for the full article.
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.