Amended Cajun Plan Lowers Rates
Ralph R. Mabey, trustee in the Chapter 11 bankruptcy proceedings of Cajun Electric Power Co-op., has entered into an amended asset-purchase agreement with Louisiana Generating LLC for the purchase of Cajun's nonnuclear assets. Louisiana Generating LLC is the joint-venture affiliate of NRG Energy, Inc. and Zeigler Coal Holding Co.
The NRG/Zeigler bid was selected in April, but on July 15, the bankruptcy court rejected the plan's buyer-protection provisions.