Investors - NOVEMBER 7, 2017

Exelon’s Texas merchant subsidiary files for bankruptcy

by Released

Exelon Corp. announced that its Texas merchant power subsidiary ExGen Texas Power Holdings and ExGen Texas Power LLC filed for Chapter 11 bankruptcy.

EGTP's Board of Directors will go forward with a two-part plan for the company, including a negotiated agreement with lenders that would allow Exelon Generation to continue to own and operate the Handley Generating Station in exchange for a $60 million payment to the lenders.

The filings help to facilitate the planned transactions and provide additional tools to reduce the amount of debt the plants would otherwise take forward, thereby maximizing their opportunities for long-term success.

Forgot your username or password?