TXU DEAL ON THE FRITZ?

Rep. Phil King, R-Weatherford, is working on an amendment to an energy bill that might kibosh KKR and TPG’s bid for TXU. King wants to limit the market penetration of a utility to 35 percent per region of Texas. Here in North Texas, TXU serves about 40 percent. The way the buyout deal is structured, the private equity groups can walk away without penalty if they’re forced to sell off a “material portion” of power plants. If the bill goes through, I can’t say I’d blame them to balk. It’s like, “Here are the keys to your new house. Oh, by the way, you’re not allowed to use the kitchen and one of the bathrooms. Enjoy.”

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