TXU Bankruptcy Breakdown - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

TXU Bankruptcy Breakdown

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Wichita Falls, TX - Bankruptcy notices are popping up all over Texoma, and you could be getting one in your mailbox.

Energy Future Holdings (EFH) is the parent company for more than seventy energy providers in Texas filing for a Chapter 11 Bankruptcy. EFH plans on restructuring its approximate $40 billion dollar debt.

A required document from the U.S. Bankruptcy Court for the District of Delaware sent a notice of commencement to EFH customers currently buying electricity from any of the companies operating under EFH.

Michael Patterson, the Director of Communications at TXU Energy said the bankruptcy has nothing to do with Texomans.

“It’s not going to affect them,” said Patterson. “We will continue to operate just as we have all along.”

Patterson said the bankruptcy is a financial balance sheet issue, not an operational issue.

The President of the Better Business Bureau of North Texas, Monica Horton said phones have been ringing off the hook with confused customers about the notice that landed in mailboxes this week.

“It is basically only an information type notice only to those who have a particular energy provider that is housed underneath the holding company,” said Horton.

She said the list of electric company providers is not included in the notice and thinks this is what’s causing confusion.

Recent research says this is the tenth largest chapter 11 filing ever.

Brody Carter, Newschannel 6