- NextEra Energy (NYSE:NEE) and a group of Energy Future creditors have submitted a new restructuring proposal that increases the valuation of Energy Future’s Oncor by $500M and would give the Florida utility control of the unit.
- The proposed reorganization would provide for higher recoveries to Energy Future’s creditors while also allowing a deregulated subsidiary to spin off without subjecting the power producer to an outsized tax liability.
- Energy Future, which filed for Chapter 11 bankruptcy in April, is scheduled to report to the U.S. bankruptcy judge tomorrow on progress in talks with creditors and other parties on “potentially beneficial” developments.