Rep. Joe Barton wants answers on TXU buyout

by PegNews wire

ARLINGTON — U.S. Representative and TXU stockholder Joe Barton (R-Arlington) spoke out about the proposed TXU buyout. Barton, who has also received campaign contributions from the Dallas-based energy giant, said he was adamant about making sure this deal will benefit Texas energy consumers.

Railing against potential "investors from New York", Barton brought up the massive price hikes and relative lack of federal oversight over Texas energy markets, and specifically raised his concern over the fact that after a buyout parts of TXU's business may not be under any form of state oversight at all.

Barton's statements were made just days after the state's Public Utility Commission issued a report condemning TXU's price-raising tactics in the summer of 2005.

Posted by Todd M.