DALLAS, TX -
Today, TXU Corp. (NYSE: TXU) issued the following statements from TXU Corp. CEO John Wilder and Michael McCall, CEO of TXU Wholesale.
McCall: “TXU apologizes for creating any perception of threatening to shut down power plants in Texas. TXU is not permitted to unilaterally shut down power plants. Such a step can only be done after a review by ERCOT. There is no intention to shut down plants, especially those needed to ensure reliability. Today, we are asking the PUC to disregard this filing. We will resubmit a more appropriate document after consulting with the investors. Again, we apologize for our actions.”
Wilder: “The filing should not have been made in this fashion. We will start over, consult with the investor group and get it right the next time. All of the TXU businesses are committed to customer reliability. TXU Power has committed to investing more than $3 billion to bring more capacity to the Texas electricity market and we are investing several billion dollars in capacity maintenance and improvements. TXU stands ready to un-mothball over 1,600 megawatts of capacity to ensure reliability for our customers.”
TXU Corp., a Dallas-based energy company, manages a portfolio of competitive and regulated energy businesses primarily in Texas. In the competitive TXU Energy Holdings segment (electricity generation, wholesale marketing and retailing), TXU Energy provides electricity and related services to more than 2.1 million competitive electricity customers in Texas. TXU Power has over 18,100 MW of generation in Texas, including 2,300 MW of nuclear and 5,800 MW of coal-fueled generation capacity. TXU Wholesale optimizes the purchases and sales of energy for TXU Energy and TXU Power and provides related services to other market participants. TXU Wholesale is the largest purchaser of wind-generated electricity in Texas and fifth largest in the United States. Visit www.txucorp.com for more information about TXU Corp.