I’ve reported before on the financial troubles of Energy Future Holdings, as well as the ramifications if the parent company of TXU Energy goes bankrupt. Well, unfortunately the financial troubles of TXU and EFH continue as they posted preliminary numbers indicating at 2.167 billion dollar loss for 2012.
For EFH Corp., the unaudited financial data shows a net loss of $2.167 billion for 2012, and adjusted EBITDA (per restricted payments covenant) of $5.257 billion.
The net loss reflects $1.5 billion in unrealized net losses resulting from commodity hedging and trading transactions, which are not reflected in adjusted EBITDA.
I’m not an accountant, so I’m not sure exactly what that translates into real losses, but I don’t think there’s any way to spin the fact that this is more bad financial news for Energy Future Holdings and TXU.