Upon receipt of regulatory approvals and emergence, Reorganized TCEH, including Luminant, TXU Energy and supporting business services, to operate as stand-alone company poised to benefit from a strong balance sheet and enviable positioning in Texas’ competitive energy market.
DALLAS – August 26, 2016 – Energy Future Holdings today announced that the United States Bankruptcy Court for the District of Delaware has confirmed Texas Competitive Energy Holdings’ amended plan of reorganization, which contemplates a tax-free spin of the company’s competitive businesses, known as TCEH and including Luminant and TXU Energy, along with supporting business services.
In addition to court approval, the company has already received a majority of the key regulatory approvals required for emergence, with a final approval from the Railroad Commission of Texas anticipated in September. Upon receipt of that approval, Luminant, TXU Energy and EFH Business Services, which will collectively be known as “Reorganized TCEH” in the short-term, can then emerge soon thereafter.
EFH and Energy Future Intermediate Holdings, which owns an indirect 80 percent interest in Oncor, continues to be in the Chapter 11 restructuring process. The confirmation hearing related to emergence for these assets is slated to begin Dec. 1.