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TXU Directors Tentatively Back Sale
In a huge victory for our fight to stop global warming, directors of TXU Corporation, Texas’s largest electricity producer, gave tentative approval February 25th to sell the company to two private firms and to abandon plans to build eight new coal-fired power plants. Had TXU gone forward with the building of the coal-fired plants, they would have more than doubled their current carbon dioxide emissions. The new buyers also agreed to support a mandatory national program to cap emissions of greenhouse gases and pledged not to build coal-fired plants outside Texas.