More on the TXU buyout

Still some fine points to read

The Gray Lady, the New York Times, reports that Her Honor, Dallas Mayor Laura Miller, still has some concerns. (And why wasn’t this reported in the initial Dallas Morning Snooze story? Answer: It was not even their own story; it came off the AP wire. Maybe the Snooze's Mong and Dechard are right that most people have not a care whose byline is on a story.)

Namely, the Waco plant that’s already drawn heavy opposition, being the closest to Dallas, and also being likely to make Waco itself an Environmental Protection Agency non-attainment zone, is one of the three plants still scheduled to be built. Interestingly, I've not yet seen an official statement from the Coalition of Clean Air Cities.

The Times story was also fascinating in its description of the role environmentalist group Environmental Defense played in the sale. In short, neither KKR nor Texas Pacific, the two private equity funds planning to buy TXU, wants their private lives to be public. So, asked ED to confidentially work on making this deal more acceptable. ED President Fred Krupp then recognized leverage when he saw it, and pushed for yet more changes. (Some of my environmental donation dollars at work!)

However, besides’s Miller’s worries, there are other caveats.

First, this is not a done deal; second, it’s not an exclusive deal. TXU’s board of directors is still free to negotiate elsewhere until April 16. Third, the eight apparently discarded plants weren’t going to be built for years anyway.

Nonetheless, the victory has HUGE symbolic value. TXU blinked. And, when you can get that to happen, you’re winning.