SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) December 30, 2011
Energy Future Holdings Corp.
(Exact name of registrant as specified in its charter)
Energy Future Competitive Holdings Company
(Exact name of registrant as specified in its charter)
Energy Plaza, 1601 Bryan Street, Dallas, Texas 75201
(Address of principal executive offices, including zip code)
(Registrants telephone number, including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 8.01 Other Events.
Reference is made to (i) the Current Report on Form 8-K filed by Energy Future Holdings Corp. (EFH Corp.) and Energy Future Competitive Holdings Company (EFCH) on September 12, 2011 and (ii) the disclosure in MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Recent EPA Actions provided in the Quarterly Reports on Form 10-Q filed by EFH Corp. and EFCH on October 28, 2011.
In September 2011, certain subsidiaries of EFH Corp. and EFCH, including Luminant Generation Company LLC (such subsidiaries collectively, Luminant), filed in the United States Court of Appeals for the District of Columbia Circuit (the D.C. Circuit Court) (i) a petition for review challenging the Environmental Protection Agencys (the EPA) Cross-State Air Pollution Rule (the CSAPR) and (ii) a motion to judicially stay implementation of the CSAPR, in each case as applied to Texas. A number of generation companies, states and other parties filed similar petitions for review and similar motions to prevent the implementation of the CSAPR. As promulgated, our compliance with the CSAPRs annual emissions reduction programs would have been required beginning on January 1, 2012, and our compliance with the CSAPRs seasonal emissions reduction program would have been required beginning on May 1, 2012.
In October 2011, the EPA released proposed revisions to the CSAPR, including increased emissions budgets for the State of Texas (the Proposed Revisions). Although the EPA has conducted public hearings and received final comments (including from Luminant) regarding the Proposed Revisions, it has not issued a final rule addressing any revisions.
On December 30, 2011, the D.C. Circuit Court granted all motions for a judicial stay of the CSAPR in its entirety, including as applied to Texas. The D.C. Circuit Courts order does not invalidate the CSAPR but stays the implementation of its emissions reductions programs until a final ruling regarding the CSAPRs validity is issued by the D.C. Circuit Court. The D.C. Circuit Courts order states that the EPA is expected to continue administering the Clean Air Interstate Rule (the predecessor rule to the CSAPR) pending the courts resolution of the petitions for review. The D.C. Circuit Court ordered Luminant (along with the EPA and the other parties to the suit) to propose a briefing schedule that would allow the case to be fully briefed by the parties and heard by the D.C. Circuit Court by April 2012.
As a result of the D.C. Circuit Courts order, Luminant rescinded its Notice of Suspension of Operations previously given to the Electric Reliability Council of Texas with respect to Units 1 and 2 at its Monticello generation facility. While the stay is in place, Luminant expects to operate these units in the ordinary course and to continue mining lignite at the mines that serve its Monticello and Big Brown generation facilities. While the legal challenge to the CSAPR is in process, we intend to continue evaluating the CSAPR, the Proposed Revisions, alternatives for possible compliance and the expected effects on our operations, liquidity and financial results.
We cannot predict (i) whether the legal challenge to the CSAPR will be ultimately successful on the merits, (ii) when the D.C. Circuit Court will issue a final ruling on the validity of the CSAPR and/or (iii) whether the EPA will adopt the Proposed Revisions (or if adopted, the nature of the Proposed Revisions).
The information set forth in this Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties that could cause actual results to differ materially from managements current projections, forecasts, estimates and expectations. All statements, other than statements of historical facts, that are included in this Current Report on Form 8-K that address activities, events or developments that EFH Corp. or EFCH expect or anticipate to occur in the future (often, but not always, through the use of words or phrases such as might, believe, plan to, intend to, will likely, expects to, may, could and anticipate), are forward-looking statements, including, but not limited to, statements regarding the DC Circuit Courts actions with respect to the CSAPR. Although EFH Corp. and EFCH believe that in making any such forward-looking statement their expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors in EFH Corp.s and EFCHs Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (including the sections entitled Risk Factors, Managements Discussion and Analysis of Financial Condition and Results of Operations and Forward-Looking Statements contained therein). Neither EFH Corp. nor EFCH undertakes any obligation to publicly release any revision to the forward-looking statements to reflect events or circumstances after the date of this Current Report on Form 8-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: January 6, 2012