Archive for February 2007

Fraser Amendment Requires PUCT to Approve TXU Buyout

In yesterday’s Senate Business and Commerce Committee, Sen. Fraser amended his SB 896, which was originally addressing the confidentiality of wholesale market abuse investigations.  The amendment however, grants the PUCT the authority to review and approve the TXU buyout.
 
Full text of the amendment to SB 896 (as well as other amendments being offered by Fraser on some of his other bills) is available at:  http://www.fraser.senate.state.tx.us/assets/pdf/Electric_Amendments.pdf

House Regulated Industries Grills TXU

Members of the House Regulated Industries Committee grilled representatives of KKR and TXU. Many committee members expressed concern that the proposed 10% rate reduction was not nearly sufficient rate relief. Chairman King strongly encouraged KKR and TXU officials to work towards a proposal that would be acceptable to the legislature as well as the shareholders.

Rep. Turner Signals Opposition to TXU Buyout

Rep. Sylvester Turner, a member of the House Regulated Industries Committee, held a press conference today to voice his opposition to the proposed TXU buyout, as that deal is currently structured. Expressing concern that the deal does not provide sufficient benefits to retail customers, Rep. Turner clearly expressed the idea that the retail market could be re-regulated.

To view this press conference: http://www.house.state.tx.us/fx/av/80thpressconferences/70227aPC.ram

Regulated Industries now focused on TXU

The bills originally scheduled for discussion today (2/27) will be carried over to a future meeting so that the Regulated Industries Committee can discuss the TXU buyout.

Regulated Industries Focused on TXU

The bills originally scheduled for discussion today will be carried over to a future meeting so that the Regulated Industries Committee can discuss the TXU buyout.

Resource Adequacy in ERCOT Market

Com. Parsley made a presentation to the House Air Quality Caucus on February 22nd regarding resource adequacy in the ERCOT market.

Her presentation can be found at: http://www.puc.state.tx.us/about/commissioners/parsley/present/epp/Air_Quality_Caucus_022207.pdf

Resource Adequacy in ERCOT Market

Com. Parsley made a presentation to the House Air Quality Caucus on February 22nd regarding resource adequacy in the ERCOT market.
 

Resource Adequacy in ERCOT Market

Com. Parsley made a presentation to the House Air Quality Caucus on February 22nd regarding resource adequacy in the ERCOT market.
 

Key House Bills Being Heard on 2/27

The House Regulated Industries Committee will meet on Tuesday, Feb. 27th upon adjournment of the House.  HB 1189, 1190, 1191, 1192 as well as HB 1394 are scheduled for discussion
 
 
It is expected that no votes will be taken on these bills and that they will be left pending in the committee for future debate, similar to the Senate versions of these bills that were heard in the Senate Business and Commerce Committee last week.

KKR seen leading massive TXU buyout


Deal for the biggest power company in Texas would be largest private equity takeover ever; TXU shares jump.

February 23 2007: 6:53 PM EST


NEW YORK (Reuters) — Private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group are expected to bid to acquire all of TXU, the biggest power company in Texas, in what would be the largest private equity takeover ever in terms of enterprise value, various reports said Friday.