Sale Pending

While I wait to see whether or not Al Gore goes home with an Oscar, this news, provided the sale actually happens, is huge! In a nutshell, two private equity firms are offering to buy TXU, the Texas utility which is now poised to build eight new coal-fired power plants in the state. According to reports, the new owners have not only said they will cancel plans for those plants, but will not build any coal plants outside Texas either. Furthermore, the prospective buyers support mandatory caps on greenhouse gas emissions. Stay tuned.