Don’t mess in Texas
As you may know, TXU Corp., a Texas utilities corporation, had outraged much of the public with plans to build eleven new coal-fired power plants in Texas and more in other states.
Instead, TXU may be sold.
Goldman Sachs led a buyout group and, along the way, negotiated the settlement of lawsuits brought against the original plan. In exchange for the suing parties’ willingness to settle, the new owners agreed to:
– build three plants rather than eleven
– support federal legislation to limit greenhouse gases
– cut pollution and support wind power
– invest $400M in energy efficiency
– cut consumer rates by 10%
Shareholders must approve.
But, wow! It’s possible! See Grist for the story and links to news coverage of it.
Subscribe to comments with RSS.