It comes as no surprise that TXU’s parent company, Energy Future Holdings, reported a massive loss for the first quarter of 2012.
In accordance with GAAP, EFH reported a net loss of $304 million for the quarter, and an adjusted net loss of $280 million — significantly worse than lass year’s Q1 loss.
EFH is the holding company that owns Oncor (electricity transmission and delivery), TXU Energy (electricity provider) and Luminant (electricity generator).
EFH has been making headlines recently because of their worsening debt issues. EFH’s debt is now rated 8 levels below junk, and most of the street believes that bankruptcy is now unavoidable.
EFH has lost almost $5 billion over the last two years. EFH debt now totals $41.7 billion — a staggering sum. With revenue of only $7 billion, EFH is in dire straits.