Energy Future Holdings Improves Performance in Fiscal Year 2009

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Researched by Industrial Info Resources (Sugar Land, Texas)--Texas-based power company Energy Future Holdings (EFH) (Dallas) recently reported earnings for the fourth quarter and full year of the company's 2009 fiscal year. The company's adjusted operating income loss of $351 million for 4Q09 represented an earnings increase of $16 million from the $367 loss of 4Q08. Adjusted operating losses for the full year were $852 million, compared to a loss of $876 million in fiscal year 2008.

EFH operates three subsidiaries: Luminant, responsible for power generation; TXU, an energy distributor wholly owned by EFH; and Oncor, an energy distributor in which EFH holds a majority stake.

Luminant operates about 17,500 megawatts (MW) of generating capacity in Texas, including 2,300 MW of nuclear power; 7,200 MW of coal-fired power and 900 MW of wind energy. For the year, the company's nuclear power generation was up 5%, rising from 19,218 gigawatt-hours (GWh) in 2008 to 20,104 GWh in 2009. Coal-fired power, at 45,684 GWh, showed a 2% increase from 2008.

TXU showed a 2% increase in electricity sales volumes with 50,581GWh. While the number of residential customers and the amount of residential sales volume declined, growth came from small businesses and large commercial and industrial customers. Oncor's sales volumes declined 4%, moving from 107,828 GWh in 2008 to 38,299 GWh in 2009.

Industrial Info Resources is currently tracking $210 million of EFH projects, as well as the estimated $20 billion planned expansion of the company's Comanche Peak Nuclear Power Plant in Glen Rose, Texas. Luminant currently plans to expand the plant by 3,400 MW through the addition of two 1,700-MW reactors supplied by Mitsubishi Heavy Industries Limited (TYO:7011) (Tokyo, Japan). For additional details, see July 14, 2009, article - Luminant in Talks with Mitsubishi Heavy Industries for Supply of Reactors to Comanche Peak Nuclear Plant. While not directly affecting this specific project, President Obama's recent nod of the head to nuclear power is encouraging for companies wishing to construct or expand nuclear power facilities in the U.S. For additional information, see February 17, 2010, article - Obama Administration Commits $8 Billion in Loan Guarantees to Georgia Power's Vogtle Units 3 and 4.

Information on this and other EFH projects, including a grassroot substation and transmission project set to begin construction this year, can be found in Industrial Info's North American Industrial Database.

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