Learning From Energy Future's Mistakes

Law360, New York (June 1, 2016, 12:40 PM EDT) -- The bankruptcy filing of Energy Future Holdings, made on April 29, 2014, is significant for three reasons. First, it's one of the largest in U.S. history, with more than $40 billion in debt in distress at the time of the filing.[1] Second, it highlights the impact of the shale revolution on the American electric power industry by clearly illustrating the close correlation between upstream natural gas production and pricing with wholesale power prices. Third, the long road to a restructuring solution, still not at hand, illustrates the challenges that unique capital markets structures have in solving issues in highly regulated businesses....

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