Shocker: TXU Screwed Customers

Report says TXU manipulated Texas power market

Associated Press

ARLINGTON — TXU Corp. manipulated the Texas electric market in 2005, costing consumers $70 million and giving the utility $20 million in extra profits, according to an outside expert whose report was released by state regulators today.

TXU, the largest power generator in Texas, sold power to the market at inflated prices and caused electricity prices to rise 15.5 percent during a four-month summer stretch, the market expert said.

"Since TXU, in fact, raised prices in the market and profited from its activities, the (monitor) concluded that TXU's behavior constitutes market power abuse," said staff of the state Public Utility Commission.

Someone needs to go to prison for a very long time.

I'm not holding my breath waiting, though. Are you?

Hm. TXU's stock value has increased 32% since April.

Like I said: Shocker.

As in "I'm shocked that The Houston Chronicle actually printed this AP story."


Best bar bet in the world: Delilah didn't do it.
Judges 16:19-- And she made him (Samson) sleep upon her knees; and she called for a man, and she caused him to shave off the seven locks of his head.