Energy Future Holdings Loses Billions From Playing It Safe in the Natural Gas Market, an Industrial Info News Alert
Posted on: Wednesday, 20 August 2008, 06:00 CDT
Researched by Industrial Info Resources (Sugar Land, Texas) -- Energy Future Holdings (EFH) (Dallas, Texas), formerly TXU Corporation, posted net income losses of $3.33 billion for the second quarter and losses of $4.6 billion for the first six months of 2008. These losses, however, are primarily due to EFH's long-term hedging strategies in the natural gas market. The company is engaged in a natural-gas hedging program from 2008 to 2014 in order to help maintain and regulate cash flow and stabilize electricity prices in the volatile power market. EFH estimates that it has already hedged 97% of its total natural gas position for 2009 and 96% for 2010. The company expects to continue this hedging program on a five- to six-year basis.
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SOURCE: Industrial Info Resources
Source: MARKET WIRE
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