EFH was established in 2007. Its predecessor is Texas Public Utilities Company (TXU), which is the largest power company in Texas with a history of 65,438+0.32 years. At that time, KKR joined hands with Goldman Sachs and Buffett's Pacific Construction Group (TPG) to acquire TXU by debt, which later became today's EFH. At that time, the acquisition cost including debt reached a record $45 billion.
EFH will rely on extraordinary. Gold master? Had a big fight, but it backfired. Affected by the financial crisis in 2008, the shale gas revolution in the United States and the nuclear accident in Japan, development has always been tepid. According to EFH's plan, with the increase of natural gas price, it will become easier to repay debts, but the surge of shale gas has caught it off guard. Natural gas prices have fallen to historical lows in the United States, and debts have accumulated. At that time, some analysts sarcastically said that the largest leveraged buyout in the United States so far may become the most failed buyout in history. Now, this prophecy has finally come true.
Blazouez Power Cooperative Company is one of dozens of power suppliers in Texas, providing electricity to more than 660,000 users in the state. But last month, it faced a huge cost deficit due to the severe snowstorm.
In mid-February, 20021year, the unusually cold weather destroyed nearly half of the power plants in Texas, causing 4.3 million people to lose power and heat for several days, the water pipes burst, and many families and enterprises suffered losses. During this period, Brothers Electric Power Co., Ltd. and other power suppliers were asked to buy alternative power at high prices and pay other related expenses, resulting in high debts.