Below is the full statement EFH is using to respond to inquiries about the Notice of Commencement being mailed this week:
The Bankruptcy Court approved our First Day Motions nearly three weeks ago on May 2. The Notice of Commencement that customers received is a required, customary legal document. These types of routine, court-required notices provide basic information about the legal filings.
This notice provides formal notification that a Chapter 11 proceeding has begun and contains important information about the claims process. The Court has entered an order that permits TXU Energy to continue its customer programs and honor its customer obligations in the ordinary course of business. There is nothing special that they need to do to continue receiving electricity service.
If, however, a customer has a dispute with TXU Energy or otherwise believes that a pre-filing claim has not been addressed by TXU Energy in the ordinary course of business, then such customer is required to file written proof of its claim no later than October 27, 2014 at 5:00 p.m. Eastern. Additional information regarding this process can be obtained by visiting www.efhcaseinfo.com.
Customers with questions about whether they may have a potential claim should contact their own lawyer for advice. Customers may receive other notices during the Chapter 11 process, depending on their particular circumstance and should continue to read those closely.
We are focused on restructuring our finances, not our operations. We continue to add new customers, provide industry-leading service and bring new products and services to the market to improve the lives of Texans.
Chapter 11 is intended to permit a company to continue normal business operations while it reorganizes its balance sheet and with a stronger financial foundation. We expect that our company will be in an even better position over the long term to deliver for all of our stakeholders, including our customers.
In fact, the Public Utility Commission of Texas has filed a brief in support of those first day pleadings. On its website, the PUC wrote:
- “You should expect business as usual. EFH has requested the bankruptcy court to allow TXU Energy… to continue all customer rewards programs and to continue serving all of their existing customer contracts… under existing contract terms.” (The court has approved this request.)
- “EFH has filed for Chapter 11 bankruptcy. This is a financial restructuring and should not affect the day to day operations of TXU Energy…”