energy future holindings 07Q2ERExhibits_FINALfinance29
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TXU reported financial results for Q2 and year-to-date 2007. For Q2, net income was $121 million compared to $497 million in Q2 2006. Operational earnings, which exclude special items, were $430 million in Q2 2007 compared to $650 million in Q2 2006. For year-to-date, TXU reported a net loss of $377 million compared to net income of $1,073 million in 2006. Operational earnings were $873 million year-to-date 2007 compared to $1,179 million in 2006. Results were impacted by cooler weather, higher fuel costs, and lower average pricing. TXU also provided updates on its proposed merger with TEF Holdings and
The document provides notice of Calpine Corporation's 2005 Annual Meeting of Stockholders. It will be held on May 25, 2005 to elect three Class III directors, consider amending the company's certificate of incorporation to declassify the board of directors, and ratify the appointment of PricewaterhouseCoopers LLP as the company's independent accountants. Only stockholders of record as of April 1, 2005 are entitled to vote. The meeting will require a quorum and matters will be decided by a plurality or majority of votes cast.
The company had a successful year despite challenges from increased competition and events of 9/11. Revenues grew 29% to $4.01 billion and EBITDA increased 14% to $1.13 billion due to integrating acquired companies. The company introduced new attractions, expanded existing popular performances, renovated hotel rooms, and reduced debt. Employees displayed strength and resilience during difficult times, which helped the company rebound faster than competitors.
TXU proposed building 9 GW of new generation capacity in Texas to meet growing demand. They reviewed various generation technologies including wind, gas, supercritical coal (SCPC), and integrated gasification combined cycle (IGCC). SCPC was identified as the optimal near-term solution due to its competitive cost and reliability advantages over other technologies. While wind and gas will also be part of the solution, significant cost reductions and technological breakthroughs are still needed for nuclear and IGCC to become competitive long-term options in the next 10-15 years. TXU aims to leverage its construction expertise and experience to build out its generation portfolio in an efficient and environmentally responsible manner.
The document summarizes the benefits of electricity market restructuring in Texas. It discusses how restructuring led to (1) significant investment in new generation capacity, bringing more efficient natural gas plants into the energy portfolio; (2) lower prices for consumers compared to continued regulation; and (3) new retail products and services available due to increased competition. The simple market design and rules in Texas allowed customers to capture the benefits of open markets through lower prices, improved reliability and more choices.
The document is NiSource's 2006 Annual Message to Stockholders. It discusses NiSource's strategic progress and business plan results. Key points include:
1) NiSource has made progress defining its strategic direction and is nearing completion of a review to position the company for future growth.
2) NiSource's balanced business plan of pipeline expansion, regulatory initiatives, financial management, and expense control continues to deliver solid results.
3) The gas transmission and storage segment is expanding its pipeline network and storage capacity through new projects.
4) Regulatory initiatives include rate cases and innovative plans to support infrastructure investment and customer programs.
This document is Calpine Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2001. It provides an overview of Calpine's business operations, including that it is a leading independent power company engaged in power generation and electricity sales. As of the filing date, Calpine had interests in 64 power plants with 12,090 megawatts of capacity. It also had 24 gas-fired projects under construction totaling 14,142 megawatts of additional capacity. The report provides details on Calpine's power assets, financial results, risk factors, and other disclosures required in an annual report.
TXU implemented a three phase transformation process to transition from a regulated monopoly to an industrial energy company competing in deregulated markets. Phase one focused on rationalizing the portfolio, restructuring to repair the balance sheet, and restoring financial strength. Nearly $14 billion was deployed to reduce debt and return capital to shareholders. Phase two aims to strengthen the core business and drive performance improvement, with a focus on identifying $1.6-1.7 billion in annual cost savings. The ultimate goal is phase three: achieving sustained performance and growth in the competitive industry.
The Second Amendment to the Amended and Restated Revolving Credit, Term Loan and Guarantee Agreement makes several changes:
1) It allows Calpine to use $45 million of debtor-in-possession (DIP) financing proceeds to fund its portion of a joint venture in Canada for the construction of a power plant.
2) It replaces approximately $65 million in expiring letters of credit under another facility with new letters of credit issued under the DIP revolver, increasing the letter of credit commitment.
3) It clarifies that cash collateral provided for trading contracts has first priority liens as permitted by a bankruptcy court order.
4) It gives the administrative agents discretion
energy future holindings 07Q2ERExhibits_FINALfinance29
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TXU reported financial results for Q2 and year-to-date 2007. For Q2, net income was $121 million compared to $497 million in Q2 2006. Operational earnings, which exclude special items, were $430 million in Q2 2007 compared to $650 million in Q2 2006. For year-to-date, TXU reported a net loss of $377 million compared to net income of $1,073 million in 2006. Operational earnings were $873 million year-to-date 2007 compared to $1,179 million in 2006. Results were impacted by cooler weather, higher fuel costs, and lower average pricing. TXU also provided updates on its proposed merger with TEF Holdings and
The document provides notice of Calpine Corporation's 2005 Annual Meeting of Stockholders. It will be held on May 25, 2005 to elect three Class III directors, consider amending the company's certificate of incorporation to declassify the board of directors, and ratify the appointment of PricewaterhouseCoopers LLP as the company's independent accountants. Only stockholders of record as of April 1, 2005 are entitled to vote. The meeting will require a quorum and matters will be decided by a plurality or majority of votes cast.
The company had a successful year despite challenges from increased competition and events of 9/11. Revenues grew 29% to $4.01 billion and EBITDA increased 14% to $1.13 billion due to integrating acquired companies. The company introduced new attractions, expanded existing popular performances, renovated hotel rooms, and reduced debt. Employees displayed strength and resilience during difficult times, which helped the company rebound faster than competitors.
TXU proposed building 9 GW of new generation capacity in Texas to meet growing demand. They reviewed various generation technologies including wind, gas, supercritical coal (SCPC), and integrated gasification combined cycle (IGCC). SCPC was identified as the optimal near-term solution due to its competitive cost and reliability advantages over other technologies. While wind and gas will also be part of the solution, significant cost reductions and technological breakthroughs are still needed for nuclear and IGCC to become competitive long-term options in the next 10-15 years. TXU aims to leverage its construction expertise and experience to build out its generation portfolio in an efficient and environmentally responsible manner.
The document summarizes the benefits of electricity market restructuring in Texas. It discusses how restructuring led to (1) significant investment in new generation capacity, bringing more efficient natural gas plants into the energy portfolio; (2) lower prices for consumers compared to continued regulation; and (3) new retail products and services available due to increased competition. The simple market design and rules in Texas allowed customers to capture the benefits of open markets through lower prices, improved reliability and more choices.
The document is NiSource's 2006 Annual Message to Stockholders. It discusses NiSource's strategic progress and business plan results. Key points include:
1) NiSource has made progress defining its strategic direction and is nearing completion of a review to position the company for future growth.
2) NiSource's balanced business plan of pipeline expansion, regulatory initiatives, financial management, and expense control continues to deliver solid results.
3) The gas transmission and storage segment is expanding its pipeline network and storage capacity through new projects.
4) Regulatory initiatives include rate cases and innovative plans to support infrastructure investment and customer programs.
This document is Calpine Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2001. It provides an overview of Calpine's business operations, including that it is a leading independent power company engaged in power generation and electricity sales. As of the filing date, Calpine had interests in 64 power plants with 12,090 megawatts of capacity. It also had 24 gas-fired projects under construction totaling 14,142 megawatts of additional capacity. The report provides details on Calpine's power assets, financial results, risk factors, and other disclosures required in an annual report.
TXU implemented a three phase transformation process to transition from a regulated monopoly to an industrial energy company competing in deregulated markets. Phase one focused on rationalizing the portfolio, restructuring to repair the balance sheet, and restoring financial strength. Nearly $14 billion was deployed to reduce debt and return capital to shareholders. Phase two aims to strengthen the core business and drive performance improvement, with a focus on identifying $1.6-1.7 billion in annual cost savings. The ultimate goal is phase three: achieving sustained performance and growth in the competitive industry.
The Second Amendment to the Amended and Restated Revolving Credit, Term Loan and Guarantee Agreement makes several changes:
1) It allows Calpine to use $45 million of debtor-in-possession (DIP) financing proceeds to fund its portion of a joint venture in Canada for the construction of a power plant.
2) It replaces approximately $65 million in expiring letters of credit under another facility with new letters of credit issued under the DIP revolver, increasing the letter of credit commitment.
3) It clarifies that cash collateral provided for trading contracts has first priority liens as permitted by a bankruptcy court order.
4) It gives the administrative agents discretion
According to neuroscientist Richard Davidson's research:
1. Meditating Buddhist monks showed much greater brain activation and better organized neural connections in the prefrontal cortex compared to student volunteers.
2. This suggests mental training through meditation can physically change the structure and function of the brain.
3. Davidson's previous research found the left prefrontal cortex is associated with happiness, and the monks' brain activity was especially high in this region.