Archive for February 2007
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. 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
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.
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
Deal for the biggest power company in Texas would be largest private equity takeover ever; TXU shares jump.
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.