TXU backs down

When your Republican friends in the Texas legislator complain, a crony knows he's in trouble. Phil King (R-Weatherford) got the apology.

TXU Corp. executives got slapped on the wrist Friday for threatening to shut down power plants.

The Dallas energy company issued a public apology at the insistence of a key state legislator. And, at the urging of the private equity firms that aim to buy TXU, company executives retracted a letter sent to state regulators this week.

What was that about good PR going into their sell off? Not so much.

TXU Corp. told regulators Friday to disregard a threat to shut down some of its power plants because of a dispute over accusations of price manipulation and said it might even put some mothballed plants back into operation.

Chief Executive C. John Wilder acknowledged that the company had mishandled the situation and promised to "get it right the next time."