TXU Energy Parent Co. Puts Hurricane Ike Losses at About $25 Million
Energy Future Holdings Corp., parent company of TXU Energy, said it lost as much as $25 million from Hurricane Ike because of lower power sales to southern Texas, the company said in a filing to regulators.
The Dallas Morning News reported that EFH has 13 percent of the South Texas power market, and hundreds of thousands of homes remained without power for days following the storm.
According to the News, the company warned that it may be somewhat exposed to the potential failures of other retail electric providers in Texas, which pay EFH’s Oncor subsidiary for providing the transmission service to homes. So far, payments to Oncor have remained steady.
The report from the newspaper also said that Houston-based Reliant Energy Inc. said this week that it is exploring all alternatives — including selling itself — based on poor results from its electric retail division and the credit market crisis.
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