TXU, wanting to be bought out by some private equity firms, changes its tune:

Under a proposed $45 billion buyout by a team of private equity firms, the TXU Corporation, a Texas utility that has long been the bane of environmental groups, will abandon plans to build 8 of 11 coal plants and commit to a broad menu of environmental measures, according to people involved in the negotiations.

The roster of commitments came through an unusual process in which the equity firms asked two prominent environmental groups what measures could be taken to win their support. The result is an about-face from the company’s earlier approach to climate-change issues, and includes a goal of returning the carbon-dioxide emissions by TXU to 1990 levels by 2020.

In Big Buyout, Utility to Limit New Coal Plants, By FELICITY BARRINGER and ANDREW ROSS SORKIN, New York Times, Published: February 25, 2007

That would seem to mean they're still going to build 3 coal-fired plants. Still, 3 is less than 11.

-jsq

Three may be better than eleven, but the data shows that some of the 11 would be better than the not quite half dozen dirtier TXU plants that have been off-line for a few years and will likely be turned back on as a result of this so-called victory.

Our air pollution problems can only be solved when the people of Texas demand statewide energy efficiency policies that cover the entire electrical grid. If every citizen of our state changed a few lightbulbs, watched less t.v., and powered down nonessential appliances when they aren't being used coupled with reasonable legislation that would require less fossil fueled energy to be produced within the grid (or cap the emissions from the grid as a whole), the air quality would improve significantly.

The people have a lot of control over the energy industry. It's all about supply and demand.

Allowing oneself to believe that the TXU sale is a victory is a big mistake.

Posted by: A on March 3, 2007 10:05 AM