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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) - OCTOBER 18, 1999
TEXAS UTILITIES COMPANY
DOING BUSINESS AS
TXU CORP
(Exact name of registrant as specified in its charter)
TEXAS 1-12833 75-2669310
(State or other jurisdiction (Commission (I.R.S Employer
of incorporation) File Number) Identification No.)
TXU ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
TEXAS 1-11668 75-1837355
(State or other jurisdiction (Commission (I.R.S Employer
of incorporation) File Number) Identification No.)
ENERGY PLAZA, 1601 BRYAN STREET, DALLAS, TEXAS 75201-3411
(Address of principal executive offices, including zip code)
REGISTRANTS' TELEPHONE NUMBER, INCLUDING AREA CODE - (214) 812-4600
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ITEM 5. OTHER EVENTS.
On October 18, 1999, TXU Electric Company (Company) filed with the
Public Utility Commission of Texas (PUC) a petition for a financing order to
securitize $1.650 billion of regulatory assets and other qualified costs. The
petition was filed pursuant to Senate Bill No. 7 enacted by the 76th Texas
Legislature amending the Texas Utilities Code (Utilities Code) to authorize the
restructuring of the Texas electric utility industry, which legislation became
effective on September 1, 1999. Pursuant to Chapter 39 of the Utilities Code,
the PUC shall issue a financing order not later than 90 days after the petition
is filed. If approved by the PUC, the Company would sell its rights under the
financing order to recover such qualified costs to a special purpose subsidiary
of the Company. The special purpose subsidiary would issue transition bonds and
would use the net proceeds thereof to purchase such rights from the Company. The
proceeds received by the Company are to be used solely for the purposes of
reducing the amount of the utility's recoverable regulatory assets through the
refinancing or retirement of utility debt or equity. The Company is unable to
predict the extent, if any, to which this petition will be granted.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrants have duly caused this report to be signed on their behalf
by the undersigned thereunto duly authorized.
TEXAS UTILITIES COMPANY,
doing business as TXU CORP
By:/s/ Jerry W. Pinkerton
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Name: Jerry W. Pinkerton
Title: Controller
Date: October 22, 1999
TXU ELECTRIC COMPANY
By: /s/ Jerry W. Pinkerton
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Name: Jerry W. Pinkerton
Title: Controller
Date: October 22, 1999
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