As Texas warns of potential power shortages and blackouts this summer, the state’s biggest electricity producer is teetering toward bankruptcy. That may turn out to be a boon to the $34 billion Texas power market.
It seems like an idea all Republicans would love: the U.S. sells the largest federally owned power company, paying down debt and ending a project begun at the height of the New Deal’s government expansion.
President Barack Obama is considering the sale of all or part of the Tennessee Valley Authority, the largest publicly owned U.S. power company, in a deal that may raise as much as $35 billion as the administration seeks to reduce the national debt.
A glut of government-subsidized wind power may help accomplish a goal some environmentalists have sought for decades: kill off U.S. nuclear power plants while reducing reliance on electricity from burning coal.
Duke Energy Corp. is nearing an agreement to buy Progress Energy Inc. and put Progress Chief Executive Officer William Johnson in charge of what will be the largest U.S. utility, said three people with knowledge of the matter.