North Texas Power Company Considers Bankruptcy
FORT WORTH (AP) – A Dallas-based power company says it is considering filing for Chapter 11 bankruptcy to restructure $32 billion in debt.
The Fort Worth Star-Telegram reports that Energy Future Holdings said in a filing with the Securities and Exchange Commission it has discussed with senior creditors the possibility of reducing its debt to give it “a sustainable capital structure.”
Such a move would impact the company’s unregulated subsidiaries, including Luminant Generation, the largest generator of electricity in Texas. It also would impact TXU Energy, the largest retailer in the state.
Company spokesman Allan Koenig says the filing with the SEC raises speculation that Energy Future Holdings may file for bankruptcy but “doesn’t indicate that something is imminent.”
The Public Utility Commission of Texas says a bankruptcy filing would not impact supply.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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