Business Services Industry
TXU Energy, Credit Suisse First Boston to halt venture.
Knight Ridder/Tribune Business News, October, 2004
Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Oct. 1--TXU Energy Co. and Credit Suisse First Boston have agreed to abandon their proposed energy marketing and trading venture.
The planned joint operation was announced in May as a way for TXU to expand beyond the trading of its own assets and for Credit Suisse to enter the trading field, increasingly dominated by financial institutions since Enron's collapse in 2001.
TXU said in a statement that the utility will "continue to leverage its internal wholesale marketing and risk management capabilities to manage its purchased power needs and economically dispatch its generation fleet in the Texas market."
Credit Suisse said it "remains committed to entering the...
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