Energy Future Holdings, the Texas power company that filed for bankruptcy last April, said that it will present a proposal for auctioning the company after it scrapped an earlier plan to exit chapter 11 under control of unsecured creditors, Reuters reported yesterday. The company was evaluating potential proposals that it received from financial and strategic bidders, and is opting for an auction that may indicate increasing interest in the company. The company had previously said that it was in discussions with potential bidders, which included Hunt Consolidated and NextEra Energy Inc. Energy Future's crown jewel is its regulated power distribution business known as Oncor. NextEra had presented a proposal for acquiring post-bankruptcy control of Energy Future, but the Florida company withdrew that on Tuesday because an auction process would soon be presented. The case is In re Energy Future Holdings Inc., U.S. Bankruptcy Court, District of Delaware, No. 14-10979.
