The NRC Keeps Watch Over Comanche Peak During Chapter 11 Proceedings
Posted by on April 30, 2014Lara Uselding Region IV Public Affairs Officer The owner/operator of the Comanche Peak nuclear power plant — Luminant Generation Company LLC – told us that its parent company, Energy Future Holdings (EFH), has filed for Chapter 11 bankruptcy. Chapter 11 provides time for a business to sort out its financial problems.
This is not the first time an action like this has involved a nuclear plant. The owner of the Diablo Canyon plant went through a bankruptcy in 2001, and, in the 1980s, the Seabrook plant went through a similar process.
The NRC has been actively monitoring the situation since EFH told the Securities and Exchange Commission last year it may have difficulties meeting debt obligations. NRC staff has looked at any potential impacts on plant safety and security, the decommissioning fund, and the implementation of post-Fukushima action items. We determined the plant continues to be sufficiently funded...
Course, they own the two plant Commache Peak nuclear plant through Luminant.
I wonder are these plants comeptitive...who would buy them?
Big Texas Utility Files for Bankruptcy
April 29, 2014,
7:15 am
Too big
just failed.
The
troubled Texas utility Energy Future Holdings – which, as TXU, was private equity’s biggest-ever
buyout – filed for bankruptcy on Tuesday.
After
months of on-again, off-again talks between the company, its owners and a
dizzying hierarchy of creditors, the company went into Chapter 11 protection
with a plan intended to stave off months of potentially rancorous fighting in
court over pieces of the power company.
Energy
Future will probably be split between its regulated electricity arm, Oncor, and
its unregulated power-generation business. The talks had long been stymied by
an array of issues, including whether such a split would create a tax bill of
more than $7 billion.
Energy
Future will become one
of the biggest Chapter 11 filings in corporate history.
This is not
the ending that the Wall Street private equity firms, including Kohlberg Kravis Roberts,
TPG Capital and the private equity arm of Goldman Sachs,
envisioned in 2007, when they acquired the TXU Corporation in a colossal $45
billion deal.
Their
investments are expected to be all but be wiped out in the bankruptcy....
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