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

TXU Bankruptcy Breakdown

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
  • News HeadlinesNewsMore>>

  • Political end to Olympics: NKorea offers talks with US

    Political end to Olympics: NKorea offers talks with US

    Sunday, February 25 2018 2:16 AM EST2018-02-25 07:16:08 GMT
    Sunday, February 25 2018 10:47 PM EST2018-02-26 03:47:51 GMT
    (AP Photo/Patrick Semansky). A volunteer walks in a foggy Pyeongchang Olympic Plaza during the 2018 Winter Olympics in Pyeongchang, South Korea, Saturday, Feb. 24, 2018.(AP Photo/Patrick Semansky). A volunteer walks in a foggy Pyeongchang Olympic Plaza during the 2018 Winter Olympics in Pyeongchang, South Korea, Saturday, Feb. 24, 2018.

    Pyeongchang closes its chapter of the modern Olympics on Sunday night with tales of detente and competitive grit and volunteerism and verve.

    Pyeongchang closes its chapter of the modern Olympics on Sunday night with tales of detente and competitive grit and volunteerism and verve.

  • 5 dead after tornado, flooding from central US storms

    5 dead after tornado, flooding from central US storms

    Sunday, February 25 2018 2:25 AM EST2018-02-25 07:25:46 GMT
    Sunday, February 25 2018 10:38 PM EST2018-02-26 03:38:45 GMT
    (Liz Dufour/The Cincinnati Enquirer via AP). A view from the Central Bridge shows the flooding from the Ohio River  Saturday, Feb. 24, 2018 in Cincinnati.  Forecasters expected the Ohio River could reach levels not seen since the region's deadly 1997 f...(Liz Dufour/The Cincinnati Enquirer via AP). A view from the Central Bridge shows the flooding from the Ohio River Saturday, Feb. 24, 2018 in Cincinnati. Forecasters expected the Ohio River could reach levels not seen since the region's deadly 1997 f...

    A man in northeast Arkansas and a woman in south central Kentucky both were killed as the storm that also included strong winds, hail and heavy rain that triggered flooding muscled its way through the area, according to authorities.

    A man in northeast Arkansas and a woman in south central Kentucky both were killed as the storm that also included strong winds, hail and heavy rain that triggered flooding muscled its way through the area, according to authorities.

  • China paves way for Xi Jinping to remain leader for years

    China paves way for Xi Jinping to remain leader for years

    Sunday, February 25 2018 4:05 AM EST2018-02-25 09:05:47 GMT
    Sunday, February 25 2018 10:17 PM EST2018-02-26 03:17:05 GMT
    Chinese President Xi Jinping speaks during a joint press briefing with French President Emmanuel Macron, at the Great Hall of the People in Beijing, Tuesday, Jan. 9, 2018. (AP Photo/Mark Schiefelbein, Pool)Chinese President Xi Jinping speaks during a joint press briefing with French President Emmanuel Macron, at the Great Hall of the People in Beijing, Tuesday, Jan. 9, 2018. (AP Photo/Mark Schiefelbein, Pool)

    China's official news agency says the ruling Communist Party has proposed removing a limit of two consecutive terms for the country's president and vice president.

    China's official news agency says the ruling Communist Party has proposed removing a limit of two consecutive terms for the country's president and vice president.

Powered by Frankly