TXU to be bought, sans most the new coal-fired plants

Takeover firm Kohlberg Kravis Roberts will buy TXU — with TXU dropping plans for eight of its 11 proposed coal-fired power plants.

And, they might actually clean up TXU’s act:

KKR and Texas Pacific Group agreed over the weekend to drop most of TXU's ambitious plans for building eight new coal-fired power plants, a move designed to win support for the deal from environmentalists and other critics of the company.

The new buyers also agreed to support a mandatory national program to cap emissions of greenhouse gases and pledged not to build coal-fired plants outside Texas.

Sounds good to me. Plus, it, indirectly at least, kicks Rick Perry in the shins, and you can’t beat that.