Energy Future Holdings
| Energy Future Holdings | |
|---|---|
| legal form | Corporation |
| founding | 1984 |
| resolution | 2017 |
| Seat | Dallas , United States |
| Number of employees | 7615 |
| sales | 10.4 billion USD |
| Branch | Energy supplier |
| Status: 2005 | |
The Energy Future Holdings (EFH) (from 1998 to 2007: TXU Corporation ) is an American utility company, headquartered in Dallas .
activities
EFH emerged from Dallas Power & Light , which was founded in 1917 . It is currently the largest utility company in the state of Texas.
EFH has 2.4 million customers, has a near-monopoly on the Texas power grids and large coal reserves, and is the owner and operator of power plants with a total output of 18,300 megawatts, including several coal-fired power plants and the nuclear power plant " Comanche Peak " in Somervell County southwest of Dallas.
history
In February 2007, private equity investors Kohlberg Kravis Roberts & Co. (KKR) and Texas Pacific Group, together with a consortium of other investors, announced a debt- financed takeover attempt , which would cost the equivalent of around 34.2 billion euros (including the company's debts assumed in Amounting to over 12 billion euros) was the largest takeover of its kind to date.
According to the plans of the investors after the takeover, TXU was split into three separate individual companies for electricity generation (Luminant), operation of the grid (Oncor) and end customer business (TXU Energy). In addition, they have reached an agreement with the environmental groups Natural Resources Defense Council and Environmental Defense to dispense with eight of the planned new power plants after a takeover and to reduce the CO₂ emissions of the power plants to 1990 levels by 2020.
After the successful takeover, TXU was renamed Energy Future Holdings and the company was taken off the stock exchange.
On April 30, 2014, Energy Future Holdings filed for Chapter 11 bankruptcy . The reason for this was in particular the falling gas price and the high debt of 40 billion US dollars. In September Sempra Energy merged with the insolvent Energy Future Holdings and thus also took over 80% of the shares in Oncor.
Individual evidence
- ↑ a b Annual Report 2005 ( Memento of the original dated November 11, 2006 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 2.0 MB)
- ↑ http://www.ft.com/cms/s/568f1b4c-c38f-11db-9047-000b5df10621.html
- ↑ Süddeutsche Zeitung, February 26, 2007 ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ http://www.manager-magazin.de/unternehmen/energie/versorger-energy-future-holdings-txu-zerbricht-an-private-equity-a-966950.html
- ↑ US Bankruptcy Court Approves Sempra Energy's Merger Agreement With Energy Future , at www.sempra.com , accessed October 20, 2018
