Energy Future Holdings Corp., the parent company of TXU Energy, filed for Chapter 11 bankruptcy Tuesday. This comes after months of anticipation since the company holds debt of more than $40 billion.
The bankruptcy filing likely will not bring about any immediate change in operations. TXU still has more than 1 million customers, but the news of bankruptcy could change things dramatically for the long-time Texas electric provider. Energy deregulation is well-established and known in most of the deregulated markets in Texas, so TXU customers can choose to switch retail energy providers whenever they wish.
Energy Future Holdings’ bankruptcy may cause many current customers to shop around for a different electric provider. Comparing Texas electric rates can sometimes be confusing if you don’t know what to look for. Customers who do chose to shop for a new provider should compare average rates quoted at the same kilowatt hours used. This way the comparisons are on the same level.