Energy Procurement - November 8, 2016
Texas power company rebrands after EFH spinoff
Following emergence from the Chapter 11 bankruptcy proceedings Energy Future Holdings Corp. as a standalone entity, Texas-based energy and power company TCEH Corp. has renamed itself Vistra Energy.
As the parent company of TXU Energy and Luminant, Vistra Energy said in a Nov. 4 rebranding announcement that it will provide "customer-focused service as the state's largest electric retailer backed by safe, reliable power generation for the growing Texas market."
The company emerged as standalone company, effected through a tax-free spinoff from Energy Future Holdings, which has for years been engrossed in one of the largest Chapter 11 bankruptcy proceedings for an energy company. The rebranded entity Vistra Energy includes TCEH's experienced management team, led by CEO Curt Morgan.
"The energy market in Texas — and beyond — has never been more exciting and transformative," Morgan said in a statement. "This includes new technologies that are reimagining how we generate energy, and unprecedented choice and control for today's energy consumers. The Vistra Energy brand is intended to capture the full opportunity set before us, backed by a proud history, the industry's best team of professionals, stellar operating assets and a strong balance sheet."
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