Texasworld Service Company Inc history

To that end, under an order of the Securities and Exchange Commission, Texas Utilities was formed in 1945 to acquire and run DP&L, TESCO, and TP&L. At the time, the utilities had combined revenues of $40.4 million, with about 427,000 electricity customers.

Their parent company formed other subsidiaries to meet these needs, such as Texas Utilities Fuel Company, established in 1970 to provide natural gas to the utilities.

By 1975 Texas Utilities was meeting 25 percent of its fuel needs with lignite, and was continuing to acquire lignite reserves.

Texas Utilities won praise for its foresight in turning to this fuel; its chairman and chief executive officer, T. L. Austin Jr., was named top utility executive for 1978 by Financial World.

Even environmentalists liked Austin and his company: Howard Saxton, chairman of the Lone Star Sierra Club, told Financial World in June 1979 that Austin represented "the good side of an industry that has been under continuous attack."

On the positive side, by 1983 Texas Utilities was using natural gas for only 45 percent of its fuel needs, with lignite supplying almost all of the remainder.

Because of studies and inspections mandated by the NRC and the Atomic Safety Licensing Board, Comanche Peak's first unit was expected to go into operation in mid-1987 and the second about six months later.

In 1988 Ellis agreed to end her opposition to the licensing of Comanche Peak, and the utility made her a member of the plant's independent safety review committee.

Comanche Peak's first unit finally went into operation in August 1990, with a capability of producing 1,150 megawatts of electricity.

But late in 1991 the PUC ordered the utility to write off $1.38 billion of its investment in Comanche Peak.

In 1995 the company paid $65 million for Southwestern Electric Service Company.

In 1998 TU offered to buy a large British utility company, the Energy Group PLC, for $6.9 billion.

The center would be expanded in 2001 to 1.8 million square feet.

By November, Houston returns to 2008 pre-recession employment levels; first major metro to do so.