Luminant today released the following statement regarding the news coverage of our Liberty Mine land purchases in East Texas:
Luminant respects and shares the attachment Texans have for their land and that’s why we purchase, mine and reclaim our land responsibly. It’s also why we are sensitive to the feelings of the Finley family and have dealt with them with care, thoroughness and fairness just as we have with all property owners for more than 40 years.
Over the past three years, the Finley family members with majority interests have sold their land, which is more than 75 percent total, in transactions they consider extremely fair and above appraised value. Unfortunately, we have not been able to come to agreement with some family members who live out of state and ones who are requesting to be paid something that far exceeds the market value of the remaining land.
The Liberty Mine is being expanded to keep up with the increasing demand for electric power as Texas continues to grow. We are fully committed to continue working with the remaining family members as we have since 2010 to reach the best solution foreveryone.
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Luminant, a subsidiary of Energy Future Holdings Corp., is a competitive power generation business, including mining, wholesale marketing and trading, and development operations. Luminant has more than 15,400 megawatts of generation in Texas, including 2,300 MW fueled by nuclear power and 8,000 MW fueled by coal. The company is also one of the largest purchasers of wind-generated electricity in Texas and the nation. EFH is a Dallas-based energy holding company that has a portfolio of competitive and regulated energy subsidiaries, primarily in Texas. Visit www.luminant.com or www.energyfutureholdings.com for additional information.