The day after Chapter 11, EFH reports $2.3 billion loss in 2013

[TexasTowelie]

As negotiations around Energy Future Holdings bore out over recent weeks, the company was sitting on more bad news.

In a long delayed regulatory filing Wednesday, the company reported financial losses in the fourth quarter of 2013 of $1.7 billion. That put them $2.3 billion in the red for 2013.

Relatively speaking, that’s not all that bad for EFH. In 2012 they reported $3.4 billion in losses, its worst year since the company’s shareholders were bought out for $45 billion by KKR & Co., TPG and the private equity arm of Goldman Sachs in 2007.

2013 wasn’t so bad, part of a wider trend in the power sector that has enjoyed modest increases in natural gas prices – and ergo power prices – over the last two years. Revenues at EFH were up about 5 percent in 2013, hitting $5.9 billion.

More at http://bizbeatblog.dallasnews.com/2014/04/the-day-after-chapter-11-efh-reports-big-loss.html/ .

[Wellstone ruled]

1. Just another Pig with lip stick.

Look at the roots of this farce. It originally was setup as a tax dodge and a way to buy tons of out dated power plants and spin them off as a pump and dump. Well,here is the dump. Lots of folks bought this crap thinking Utility solid returns no risk,suckers.