Energy Future Holdings lost $136 million in the fourth quarter and $1.9 billion for all of 2011, in line with its estimates released Jan. 31, the Dallas-based power company reported today.
That compared to net income of $161 million in the fourth quarter of 2010 and a $2.8 billion loss in all of 2010, a figure that included more than $4 billion in non-cash write-downs.
The fourth quarter 2011 net loss included nearly $200 million in gains related to the company’s natural gas hedges, which gain value as the market price of natural gas declines. Total revenues declined and the company's TXU Energy retail division lost 8 percent of its customers.
--Jim Fuquay
Comments