History

The companies making up Vistra Energy, previously known as Energy Future Holdings and, before that, TXU Corp., have a rich heritage of serving Texas’s power needs in a history that stretches all the way back to 1882, when the first electric light brightened the North Texas night. We are proud of our commitment to service and the role we have played in the economic, civic and cultural development of the state. Here is a brief historical timeline of how Vistra Energy came to be.

 

2016

  • On Oct. 3, TCEH Corp., parent company of TXU Energy and Luminant, emerges from Chapter 11 as a competitive, well-capitalized, standalone company, effectuated by a tax-free spinoff from Energy Future Holdings, Corp. Curt Morgan is formally named the company’s CEO, and its common stock is publicly traded on the OTCQX market under the ticker symbol THHH.
  • On Nov. 4, TCEH is renamed and rebranded Vistra Energy.

2014

  • Energy Future Holdings Corp. files for Chapter 11 bankruptcy protection due to unsustainable debt and persistently low wholesale power prices. Oncor, which is “ring-fenced,” is not a part of the Chapter 11 filing.

2010

  • Luminant announces the second and final unit at the new Oak Grove Power Plant in Robertson County has achieved substantial completion

2009

  • Luminant announces new Oak Grove power plant near Franklin, Texas, features first-of-its-kind environmental controls

2008

  • John Young becomes first president and CEO of Energy Future Holdings Corp.

2007

  • TXU to set new direction as a private company with execution of a definitive merger agreement with an investor group led by Kohlberg Kravis Roberts & Co., TPG and Goldman Sachs Capital Partners
  • TXU Electric Delivery rebranded as “Oncor,” as implementation of a plan to further separate the subsidiaries into three distinct businesses
  • TXU’s power generation and related businesses adopt “Luminant” as new brand
  • TXU enters a new era as Energy Future Holdings Corp. with completion of the private-equity acquisition
  • TXU common stock de-listed from the NYSE and other exchanges

2005

  • TXU and CURRENT Communications agree to create the nation’s first multipurpose smart grid

2004

  • First external chief executive in TXU’s history hired to turn around the company
  • TXU exits telecommunications business
  • Turnaround plan announced, including reshaping to focus on core Texas electric businesses
  • TXU Australia, TXU Fuel and TXU Gas sold
  • Investment in communities enhanced, with fourfold, $15 million increase in TXU Energy Aid

2002

  • Texas electricity markets open to competition on Jan. 1
  • TXU Europe fails, U.K. business sold, TXU Europe becomes discontinued operation as TXU Corp. exits Europe
  • TXU begins survival plan: board cuts dividend 80 percent, financing actions completed to shore up liquidity, strengthen credit and cut debt

2001

  • TXU completes its transition to competitive electricity markets on three continents, fully implementing its strategy and business model
  • Structural separation of the energy delivery and competitive energy businesses complete
  • Texas energy delivery business renamed and rebranded as “Oncor” (becoming “TXU Electric Delivery” in 2004)

2000

  • TXU structurally separates the energy delivery and competitive energy businesses, consistent with regional regulatory environment

1999

  • TXU becomes the new name and brand identity for the enterprise, positioning it as a multinational energy company
  • Texas legislature passes landmark electricity industry restructuring bill

1998

  • The Energy Group acquired as the UK begins privatizing its electric and natural gas utilities; it becomes TXU Europe

1997

  • Acquisition of ENSERCH Corp., natural gas transmission and distribution company, completed

1995

  • Texas legislature enacts wholesale competition for electric utilities

1994

  • Texas Utilities Company celebrates 50 years as a corporation

1993

  • Southwestern Electric Service Company (SESCO), electric distribution company in East Texas, acquired

1992

  • Federal Energy Policy Act passed, making competition at the wholesale level inevitable by giving the Federal Energy Regulatory Commission the authority to require transmission-system access, or wheeling, for wholesale transactions

1987

  • Texas Utilities Electric Company, still the legal name, becomes known to the public as TU Electric

1984

  • DP&L, TESCO, TP&L and the generating company merge as divisions of a new principal subsidiary, Texas Utilities Electric Company

1983

  • System begins Energy Aid program for those needing assistance paying energy bills

1978

  • Federal Public Utility Regulatory Policies Act passed, opening the door to competition in the electric utility industry from cogenerators and other nonutility producers
  • System receives Edison Award, the industry’s highest tribute, for its lignite program

1976

  • System begins A-OK Program, first cash-incentive program in the nation to encourage energy efficiency

1975

  • Texas Public Regulatory Act passed, creating the Public Utility Commission of Texas, bringing rates and service under state regulation

1951

  • Three companies’ common stock consolidation completed

1945

  • Texas Utilities Company forms on Sept. 4, 1945, formalizing the historic and traditional bonds connecting TP&L, DP&L and TESCO in a new holding company for the three utilities

1935

  • Wheeler-Rayburn Public Utility Holding Company Act passed, allowing utilities serving integrated, contiguous territories to form a holding company

1929

  • Electric Bond and Share Company forms Texas Electric Service Company; TESCO serves Fort Worth and areas west of Abilene

1917

  • Electric Bond and Share Company forms Dallas Power & Light Company; DP&L serves the city of Dallas area

1912

  • Texas Power & Light Company forms from the consolidation of 13 electric companies brought together by Electric Bond and Share Company, a subsidiary of General Electric Company; TP&L serves much of North Central and East Texas and several counties west of Fort Worth

1885

  • Fort Worth gets electric lights, provided by Fort Worth Electric Light and Power Company

1882

  • Dallas gets electric lights, provided by the new Dallas Electric Lighting Company