Don’t mess in Texas
Now here’s some remarkable good news:
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.
Technorati Tags: coal+plants, TXU, wind+energy, green+business, Goldman+Sachs, greenhouse+gases, pollution, public+utilities+environment, environmental+legislation
Written by Monte
February 28, 2007 at 4:58 pm
Posted in Environment, Politics, Social change
2 Responses
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I haven’t heard about that but it sounds like a good thing!
Art
March 1, 2007 at 12:14 am
http://www.commondreams.org/views07/0227-33.htm
cheers
Naj
naj
February 28, 2007 at 10:51 pm