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I hold 3 issues of Energy Futures but I can’t add anything about when the big day will come. I think we’re now living on borrowed time.

I hold the following (cost adjusted by interest received):

Texas Competitive Elec 10.25% 11/01/15 cost: 37.5
Energy Futures Holdings 10.875% 11/01/17 cost: 22.5
TXU 6.50% 11/01/17 cost: 18.5

Texas Comp is a sure loser, but I hope to make a few bucks on the other 2 holdings.
At one time, quite a while back, I read that the regulated entities were “ring fenced” and they should survive. But things may have changed by now.

Meanwhile NG prices are on a tear now (over $5 today). I think they need something like $7 or $8 to get back to breakeven. So maybe they are trying to hang on and hoping for last minute “Hail-Mary” NG recovery :)

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