Thursday, April 5, 2007
TXU unwilling to pay $200 million fine, threatens to close power plants
TXU is threatening to take its toys and go home.
Photo not provided by TXU
TXU execs are outraged that their wrongdoings might result in steep fines
DALLAS — According to this report in the Dallas Business Journal, TXU Wholesale CEO Mike McCall has threatened to close down power plants if the fines against TXU are not alleviated.
The fines stem from the company's actions during the summer of 2005, when they reportedly manipulated the energy market, resulting in higher costs for Texas consumers. After the Public Utility Commission of Texas proposed a $210 million fine for TXU, McCall apparently was not at all pleased.
Posted by Todd M.
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