Tuesday, April 29, 2014
Nuclear Utility Declares Bankruptcy
From the Wall Street Journal, Energy Future Holdings Corp, formerly TXU Corp, a Texas utility company operating in north Texas, has filed for bankruptcy. The company owns many generating assets, including the Comanche Peak nuclear power plant. Comanche Peak is one of the newer, modern plants with twin reactors, located a bit south and west of Dallas, Texas. see link
It appears that the company has too much debt and cannot pay the bills. The WSJ article states the company gambled that natural gas prices would rise, allowing for higher electricity prices and more money to pay the debt. However, the gas boom via hydraulic fracturing has decreased natural gas prices, and electric prices also.
This ties in to the first article in The Truth About Nuclear Power series, in which several nuclear power plants are listed as being unable to operate profitably in the US. see link
Roger E. Sowell, Esq.
Marina del Rey, California