10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2015

— OR —

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 1-12833

Energy Future Holdings Corp.

(Exact name of registrant as specified in its charter)

Texas	46-2488810
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1601 Bryan Street, Dallas, TX 75201-3411	(214) 812-4600
(Address of principal executive offices) (Zip Code)	(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.   Yes x    No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes x    No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer o  Accelerated filer o  Non-Accelerated filer x (Do not check if a smaller reporting company)

Smaller reporting company o

Indicate by check mark if the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes o No x

At November 3, 2015, there were 1,669,861,379 shares of common stock, without par value, outstanding of Energy Future Holdings Corp. (substantially all of which were owned by Texas Energy Future Holdings Limited Partnership, Energy Future Holdings Corp.’s parent holding company, and none of which is publicly traded).

TABLE OF CONTENTS

		PAGE
GLOSSARY		ii
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)
	Condensed Statements of Consolidated Income (Loss) — Three and Nine Months Ended September 30, 2015 and 2014	1
	Condensed Statements of Consolidated Comprehensive Income (Loss) — Three and Nine Months Ended September 30, 2015 and 2014	1
	Condensed Statements of Consolidated Cash Flows — Nine Months Ended September 30, 2015 and 2014	2
	Condensed Consolidated Balance Sheets — September 30, 2015 and December 31, 2014	4
	Notes to Condensed Consolidated Financial Statements	5
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	54
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	76
Item 4.	Controls and Procedures	81
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	83
Item 1A.	Risk Factors	83
Item 4.	Mine Safety Disclosures	83
Item 5.	Other Information	83
Item 6.	Exhibits	84
SIGNATURE		86

Energy Future Holdings Corp.'s (EFH Corp.) annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports are made available to the public, free of charge, on the EFH Corp. website at http://www.energyfutureholdings.com, as soon as reasonably practicable after they have been filed with or furnished to the Securities and Exchange Commission. The information on EFH Corp.'s website shall not be deemed a part of, or incorporated by reference into, this quarterly report on Form 10-Q. The representations and warranties contained in any agreement that we have filed as an exhibit to this quarterly report on Form 10-Q, or that we have or may publicly file in the future, may contain representations and warranties made by and to the parties thereto at specific dates. Such representations and warranties may be subject to exceptions and qualifications contained in separate disclosure schedules, may represent the parties' risk allocation in the particular transaction, or may be qualified by materiality standards that differ from what may be viewed as material for securities law purposes.

This quarterly report on Form 10-Q and other Securities and Exchange Commission filings of EFH Corp. and its subsidiaries occasionally make references to EFH Corp. (or "we," "our," "us" or "the Company"), EFCH, EFIH, TCEH, TXU Energy, Luminant, Oncor Holdings or Oncor when describing actions, rights or obligations of their respective subsidiaries. These references reflect the fact that the subsidiaries are consolidated with, or otherwise reflected in, their respective parent company's financial statements for financial reporting purposes. However, these references should not be interpreted to imply that the parent company is actually undertaking the action or has the rights or obligations of the relevant subsidiary company or vice versa.

i

GLOSSARY

When the following terms and abbreviations appear in the text of this report, they have the meanings indicated below.

2014 Form 10-K	EFH Corp.'s Annual Report on Form 10-K for the year ended December 31, 2014
CAIR	Clean Air Interstate Rule
Chapter 11 Cases	Cases being heard in the US Bankruptcy Court for the District of Delaware (Bankruptcy Court) concerning voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code (Bankruptcy Code) filed on April 29, 2014 by the Debtors
Competitive Electric segment	the EFH Corp. business segment that consists principally of TCEH
Consolidated EBITDA	Consolidated EBITDA means TCEH EBITDA adjusted to exclude noncash items, unusual items and other adjustments allowable under the agreement governing the TCEH DIP Facility. See the definition of EBITDA below. Consolidated EBITDA and EBITDA are not recognized terms under US GAAP and, thus, are non-GAAP financial measures. We are providing Consolidated EBITDA in this Form 10-Q (see reconciliation in Exhibit 99(b)) solely because of the important role that Consolidated EBITDA plays in respect of covenants contained in the agreement governing the TCEH DIP Facility. We do not intend for Consolidated EBITDA (or EBITDA) to be an alternative to net income as a measure of operating performance or an alternative to cash flows from operating activities as a measure of liquidity or an alternative to any other measure of financial performance presented in accordance with US GAAP. Additionally, we do not intend for Consolidated EBITDA (or EBITDA) to be used as a measure of free cash flow available for management's discretionary use, as the measure excludes certain cash requirements such as adequate assurance payments, interest payments, tax payments and other debt service requirements. Because not all companies use identical calculations, our presentation of Consolidated EBITDA (and EBITDA) may not be comparable to similarly titled measures of other companies.
CSAPR	the final Cross-State Air Pollution Rule issued by the EPA in July 2011
DIP Facilities	Refers, collectively, to TCEH's debtor-in-possession financing and EFIH's debtor-in-possession financing. See Note 9 to the Financial Statements.
Debtors	EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH, but excluding the Oncor Ring-Fenced Entities
Disclosure Statement	Fifth Amended Disclosure Statement for the Debtors' Fifth Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code approved by the Bankruptcy Court in September 2015
D.C. Circuit Court	US Court of Appeals for the District of Columbia Circuit
EBITDA	earnings (net income) before interest expense, income taxes, depreciation and amortization
EFCH	Energy Future Competitive Holdings Company LLC, a direct, wholly owned subsidiary of EFH Corp. and the direct parent of TCEH, and/or its subsidiaries, depending on context
EFH Corp.	Energy Future Holdings Corp., a holding company, and/or its subsidiaries, depending on context, whose major subsidiaries include TCEH and Oncor
EFIH	Energy Future Intermediate Holding Company LLC, a direct, wholly owned subsidiary of EFH Corp. and the direct parent of Oncor Holdings
EFIH Debtors	EFIH and EFIH Finance
EFIH Finance	EFIH Finance Inc., a direct, wholly owned subsidiary of EFIH, formed for the sole purpose of serving as co-issuer with EFIH of certain debt securities
EFIH First Lien Notes	Refers, collectively, to EFIH's and EFIH Finance's 6.875% Senior Secured First Lien Notes and 10.000% Senior Secured First Lien Notes exchanged or settled in June 2014 as discussed in Note 9.
EFIH PIK Notes	EFIH's $1.566 billion principal amount of 11.25%/12.25% Senior Toggle Notes.
EFIH Second Lien Notes	Refers, collectively, to EFIH's and EFIH Finance's $322 million principal amount of 11% Senior Secured Second Lien Notes and $1.389 billion principal amount of 11.75% Senior Secured Second Lien Notes.

ii

EPA	US Environmental Protection Agency
ERCOT	Electric Reliability Council of Texas, Inc., the independent system operator and the regional coordinator of various electricity systems within Texas
ERISA	Employee Retirement Income Security Act of 1974, as amended
Federal and State Income Tax Allocation Agreements	EFH Corp. and certain of its subsidiaries (including EFCH, EFIH and TCEH, but not including Oncor Holdings and Oncor) are parties to a Federal and State Income Tax Allocation Agreement, executed on May 15, 2012 but effective as of January 1, 2010. EFH Corp., Oncor Holdings, Oncor, Texas Transmission, and Oncor Management Investment LLC are parties to a separate Federal and State Income Tax Allocation Agreement dated November 5, 2008. See Management's Discussion and Analysis, under Financial Condition.
Fifth Circuit Court	US Court of Appeals for the Fifth Circuit
GAAP	generally accepted accounting principles
GWh	gigawatt-hours
ICE	the IntercontinentalExchange, an electronic commodity derivative exchange
IRS	US Internal Revenue Service
LIBOR	London Interbank Offered Rate, an interest rate at which banks can borrow funds, in marketable size, from other banks in the London interbank market
Luminant	subsidiaries of TCEH engaged in competitive market activities consisting of electricity generation and wholesale energy sales and purchases as well as commodity risk management and trading activities, all largely in Texas
market heat rate	Heat rate is a measure of the efficiency of converting a fuel source to electricity. Market heat rate is the implied relationship between wholesale electricity prices and natural gas prices and is calculated by dividing the wholesale market price of electricity, which is based on the price offer of the marginal supplier in ERCOT (generally natural gas plants), by the market price of natural gas. Forward wholesale electricity market price quotes in ERCOT are generally limited to two or three years; accordingly, forward market heat rates are generally limited to the same time period. Forecasted market heat rates for time periods for which market price quotes are not available are based on fundamental economic factors and forecasts, including electricity supply, demand growth, capital costs associated with new construction of generation supply, transmission development and other factors.
Merger	the transaction referred to in the Agreement and Plan of Merger, dated February 25, 2007, under which Texas Holdings agreed to acquire EFH Corp., which was completed on October 10, 2007
MMBtu	million British thermal units
MW	megawatts
MWh	megawatt-hours
NOX	nitrogen oxide
NRC	US Nuclear Regulatory Commission
NYMEX	the New York Mercantile Exchange, a commodity derivatives exchange
Oncor	Oncor Electric Delivery Company LLC, a direct, majority-owned subsidiary of Oncor Holdings and an indirect subsidiary of EFH Corp., and/or its consolidated bankruptcy-remote financing subsidiary, Oncor Electric Delivery Transition Bond Company LLC, depending on context, that is engaged in regulated electricity transmission and distribution activities
Oncor Holdings	Oncor Electric Delivery Holdings Company LLC, a direct, wholly owned subsidiary of EFIH and the direct majority owner of Oncor, and/or its subsidiaries, depending on context
Oncor Ring-Fenced Entities	Oncor Holdings and its direct and indirect subsidiaries, including Oncor
OPEB	postretirement employee benefits other than pensions
Petition Date	April 29, 2014, the date the Debtors made the Bankruptcy Filing

iii

Plan of Reorganization	Fifth Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code filed by the Debtors with the Bankruptcy Court in September 2015, as it may be amended, modified or supplemented from time to time
PUCT	Public Utility Commission of Texas
purchase accounting	The purchase method of accounting for a business combination as prescribed by US GAAP, whereby the cost or "purchase price" of a business combination, including the amount paid for the equity and direct transaction costs are allocated to identifiable assets and liabilities (including intangible assets) based upon their fair values. The excess of the purchase price over the fair values of assets and liabilities is recorded as goodwill.
Regulated Delivery segment	the EFH Corp. business segment that consists primarily of our investment in Oncor
REP	retail electric provider
RCT	Railroad Commission of Texas, which among other things, has oversight of lignite mining activity in Texas
S&P	Standard & Poor's Ratings (a credit rating agency)
SEC	US Securities and Exchange Commission
Securities Act	Securities Act of 1933, as amended
SG&A	selling, general and administrative
SO2	sulfur dioxide
Sponsor Group	Refers, collectively, to certain investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P., TPG Global, LLC (together with its affiliates, TPG) and GS Capital Partners, an affiliate of Goldman, Sachs & Co., that have an ownership interest in Texas Holdings.
TCEH	Texas Competitive Electric Holdings Company LLC, a direct, wholly owned subsidiary of EFCH and an indirect subsidiary of EFH Corp., and/or its subsidiaries, depending on context, that are engaged in electricity generation and wholesale and retail energy market activities, and whose major subsidiaries include Luminant and TXU Energy
TCEH Debtors	EFCH, TCEH and the subsidiaries of TCEH that are Debtors in the Chapter 11 Cases
TCEH DIP Facility	TCEH's $3.375 billion debtor-in-possession financing facility approved by the Bankruptcy Court in June 2014 (see Note 9 to the Financial Statements)
TCEH Finance	TCEH Finance, Inc., a direct, wholly owned subsidiary of TCEH, formed for the sole purpose of serving as co-issuer with TCEH of certain debt securities
TCEH Senior Notes	Refers, collectively, to TCEH's and TCEH Finance's 10.25% Senior Notes and 10.25% Senior Notes, Series B (collectively, TCEH 10.25% Notes) and TCEH's and TCEH Finance's 10.50%/11.25% Senior Toggle Notes (TCEH Toggle Notes) with a total principal amount of $4.874 billion.
TCEH Senior Secured Facilities	Refers, collectively, to the TCEH First Lien Term Loan Facilities, TCEH First Lien Revolving Credit Facility and TCEH First Lien Letter of Credit Facility with a total principal amount of $22.616 billion.
TCEH Senior Secured Notes	TCEH's and TCEH Finance's $1.750 billion principal amount of 11.5% First Lien Senior Secured Notes
TCEH Senior Secured Second Lien Notes	Refers, collectively, to TCEH's and TCEH Finance's 15% Senior Secured Second Lien Notes and TCEH's and TCEH Finance's 15% Senior Secured Second Lien Notes, Series B with a total principal amount of $1.571 billion.
TCEQ	Texas Commission on Environmental Quality
Texas Holdings	Texas Energy Future Holdings Limited Partnership, a limited partnership controlled by the Sponsor Group, that owns substantially all of the common stock of EFH Corp.
Texas Holdings Group	Texas Holdings and its direct and indirect subsidiaries other than the Oncor Ring-Fenced Entities

iv

Texas Transmission	Texas Transmission Investment LLC, a limited liability company that owns a 19.75% equity interest in Oncor and is not affiliated with EFH Corp., any of EFH Corp.'s subsidiaries or any member of the Sponsor Group
TXU Energy	TXU Energy Retail Company LLC, a direct, wholly owned subsidiary of TCEH that is a REP in competitive areas of ERCOT and is engaged in the retail sale of electricity to residential and business customers
US	United States of America
VIE	variable interest entity

v

PART I. FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION

CONDENSED STATEMENTS OF CONSOLIDATED INCOME (LOSS)

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
	(millions of dollars)
Operating revenues	$	1,737		$	1,807		$	4,265		$	4,731
Fuel, purchased power costs and delivery fees	(831		)	(868		)	(2,090		)	(2,256		)
Net gain (loss) from commodity hedging and trading activities	103			75			226			(118		)
Operating costs	(189		)	(204		)	(598		)	(660		)
Depreciation and amortization	(203		)	(330		)	(643		)	(993		)
Selling, general and administrative expenses	(192		)	(183		)	(547		)	(594		)
Impairment of goodwill (Note 4)	(700		)	—			(1,400		)	—
Impairment of long-lived assets (Note 6)	(1,295		)	(9		)	(1,971		)	(30		)
Other income (Note 17)	8			8			27			22
Other deductions (Note 17)	(26		)	(5		)	(86		)	(7		)
Interest income	—			—			—			1
Interest expense and related charges (Note 7)	(383		)	(382		)	(1,375		)	(1,816		)
Reorganization items (Note 8)	(68		)	(55		)	(275		)	(720		)
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	(2,039		)	(146		)	(4,467		)	(2,440		)
Income tax benefit (Note 5)	452			72			990			830
Equity in earnings of unconsolidated subsidiaries (net of tax) (Note 3)	127			123			278			276
Net income (loss)	$	(1,460	)	$	49		$	(3,199	)	$	(1,334	)

See Notes to the Financial Statements.

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
	(millions of dollars)
Net income (loss)	$	(1,460	)	$	49		$	(3,199	)	$	(1,334	)
Other comprehensive income (loss), net of tax effects:
Effects related to pension and other retirement benefit obligations (net of tax benefit of $1, $6, $2 and $7)	(1		)	(11		)	(3		)	(14		)
Cash flow hedges derivative value net loss related to hedged transactions recognized during the period (net of tax benefit of $— in all periods)	—			—			1			1
Net effects related to Oncor — reported in equity in earnings of unconsolidated subsidiaries (net of tax expense of $— in all periods)	1			(1		)	2			—
Total other comprehensive income (loss)	—			(12		)	—			(13		)
Comprehensive income (loss)	$	(1,460	)	$	37		$	(3,199	)	$	(1,347	)

See Notes to the Financial Statements.

1

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (Unaudited)
	Nine Months Ended September 30,
	2015			2014
	(millions of dollars)
Cash flows — operating activities:
Net loss	$	(3,199	)	$	(1,334	)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization	757			1,118
Deferred income tax benefit, net	(784		)	(604		)
Impairment of goodwill (Note 4)	1,400			—
Impairment of long-lived assets (Note 6)	1,971			30
Contract claims adjustments (Note 8)	26			—
Fees paid on EFIH Second Lien Notes repayment (Note 10) (reported as financing activities)	28			—
Fees paid for DIP Facilities (Note 9) (reported as financing activities)	—			180
Loss on exchange and settlement of EFIH First Lien Notes (Note 9)	—			108
Unrealized net (gain) loss from mark-to-market valuations of commodity positions	(107		)	502
Unrealized net (gain) from mark-to-market valuations of interest rate swaps (Note 7)	—			(1,303		)
Liability adjustment arising from termination of interest rate swaps (Note 14)	—			278
Noncash realized loss on termination of interest rate swaps (Note 7)	—			1,237
Noncash realized gain on termination of natural gas hedging positions (Note 14)	—			(117		)
Interest expense on toggle notes payable in additional principal (Note 7)	—			65
Amortization of debt related costs, discounts, fair value discounts and losses on dedesignated cash flow hedges (Note 7)	—			72
Equity in earnings of unconsolidated subsidiaries	(278		)	(276		)
Distributions of earnings from unconsolidated subsidiaries (Note 3)	206			128
Impairment of intangible assets (Note 4)	83			—
Other, net	49			52
Changes in operating assets and liabilities:
Margin deposits, net	108			(270		)
Accrued interest	(1		)	512
Payable due to unconsolidated subsidiary	(113		)	(32		)
Other operating assets and liabilities, including liabilities subject to compromise	(269		)	(79		)
Cash provided by (used in) operating activities	(123		)	267
Cash flows — financing activities:
Repayments/repurchases of debt (Notes 9 and 10)	(469		)	(2,536		)
Fees paid on EFIH Second Lien Notes repayment (Note 10)	(28		)	—
Proceeds from DIP Facilities before fees paid (Note 9)	—			4,989
Fees paid for DIP Facilities (Note 9)	—			(180		)
Other, net	—			1
Cash provided by (used in) financing activities	(497		)	2,274

2

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (Unaudited)
	Nine Months Ended September 30,
	2015			2014
	(millions of dollars)
Cash flows — investing activities:
Capital expenditures	$	(261	)	$	(249	)
Nuclear fuel purchases	(77		)	(76		)
Changes in restricted cash	33			194
Proceeds from sales of nuclear decommissioning trust fund securities (Note 17)	315			250
Investments in nuclear decommissioning trust fund securities (Note 17)	(328		)	(263		)
Other, net	11			(8		)
Cash used in investing activities	(307		)	(152		)
Net change in cash and cash equivalents	(927		)	2,389
Cash and cash equivalents — beginning balance	3,428			1,217
Cash and cash equivalents — ending balance	$	2,501		$	3,606

See Notes to the Financial Statements.

3

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
	September 30, 2015			December 31, 2014
	(millions of dollars)
ASSETS
Current assets:
Cash and cash equivalents	$	2,501		$	3,428
Restricted cash (Note 17)	368			6
Trade accounts receivable — net (Note 17)	770			589
Inventories (Note 17)	388			468
Commodity and other derivative contractual assets (Note 14)	393			492
Other current assets	88			100
Total current assets	4,508			5,083
Restricted cash (Note 17)	506			901
Receivable from unconsolidated subsidiary (Note 15)	47			47
Investment in unconsolidated subsidiary (Note 3)	6,131			6,058
Other investments (Note 17)	974			995
Property, plant and equipment — net (Note 17)	10,072			12,397
Goodwill (Note 4)	952			2,352
Identifiable intangible assets — net (Note 4)	1,163			1,315
Commodity and other derivative contractual assets (Note 14)	30			5
Accumulated deferred income taxes	48			—
Other noncurrent assets	97			95
Total assets	$	24,528		$	29,248
LIABILITIES AND EQUITY
Current liabilities:
Borrowings under debtor-in-possession credit facilities (Note 9)	$	6,825		$	—
Long-term debt due currently (Note 9)	36			39
Trade accounts payable	382			406
Net payables due to unconsolidated subsidiary (Note 15)	124			237
Commodity and other derivative contractual liabilities (Note 14)	160			316
Margin deposits related to commodity contracts	126			26
Accumulated deferred income taxes	129			135
Accrued taxes	111			157
Accrued interest (Notes 7 and 10)	116			119
Other current liabilities	327			360
Total current liabilities	8,336			1,795
Borrowings under debtor-in-possession credit facilities (Note 9)	—			6,825
Long-term debt, less amounts due currently (Note 9)	103			128
Liabilities subject to compromise (Note 10)	36,924			37,432
Commodity and other derivative contractual liabilities (Note 14)	4			1
Accumulated deferred income taxes	—			713
Other noncurrent liabilities and deferred credits (Note 17)	2,083			2,077
Total liabilities	47,450			48,971
Commitments and Contingencies (Note 11)
Shareholders' equity (Note 12)	(22,922		)	(19,723		)
Total liabilities and equity	$	24,528		$	29,248

See Notes to the Financial Statements.

4

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Description of Business

References in this report to "we," "our," "us" and "the Company" are to EFH Corp. and/or its subsidiaries, as apparent in the context. See Glossary for defined terms.

EFH Corp., a Texas corporation, is a Dallas-based holding company that conducts its operations principally through its TCEH and Oncor subsidiaries. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. TCEH is a holding company for subsidiaries engaged in competitive electricity market activities largely in Texas, including electricity generation, wholesale energy sales and purchases, commodity risk management and trading activities, and retail electricity operations. TCEH is a wholly owned subsidiary of EFCH, which is a holding company and a wholly owned subsidiary of EFH Corp. Oncor is engaged in regulated electricity transmission and distribution operations in Texas. Oncor provides distribution services to REPs, including subsidiaries of TCEH, which sell electricity to residential, business and other consumers. Oncor Holdings, a holding company that holds an approximate 80% equity interest in Oncor, is a wholly owned subsidiary of EFIH, which is a holding company and a wholly owned subsidiary of EFH Corp. Oncor Holdings and its subsidiaries (the Oncor Ring-Fenced Entities) are not consolidated in EFH Corp.'s financial statements in accordance with consolidation accounting standards related to variable interest entities (VIEs) (see Note 3).

Various ring-fencing measures have been taken to enhance the credit quality of Oncor. Such measures include, among other things: the sale in November 2008 of a 19.75% equity interest in Oncor to Texas Transmission; maintenance of separate books and records for the Oncor Ring-Fenced Entities; Oncor's board of directors being comprised of a majority of independent directors, and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. Moreover, Oncor's operations are conducted, and its cash flows managed, independently from the Texas Holdings Group.

Consistent with the ring-fencing measures discussed above, the assets and liabilities of the Oncor Ring-Fenced Entities have not been, and are not expected to be, substantively consolidated with the assets and liabilities of the Debtors in the Chapter 11 Cases.

We have two reportable segments: the Competitive Electric segment, consisting largely of TCEH, and the Regulated Delivery segment, consisting largely of our investment in Oncor. See Note 16 for further information concerning reportable business segments.

Bankruptcy Proceeding

On April 29, 2014 (the Petition Date), EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities (collectively, the Debtors), filed voluntary petitions for relief (the Bankruptcy Filing) under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court). In September 2015, the Debtors filed the Plan of Reorganization and the Disclosure Statement. The Disclosure Statement was approved by the Bankruptcy Court in September 2015. In October 2015, the Debtors filed a plan supplement to the Plan of Reorganization that provides greater detail about the Plan of Reorganization and the Debtors post-emergence structure (the Plan Supplement).

Following the approval of the Disclosure Statement by the Bankruptcy Court, the Debtors solicited the vote of their required creditors for approval of the Plan of Reorganization. In October 2015, the required creditors voted to approve the Plan of Reorganization. The Bankruptcy Court hearing to review the Plan of Reorganization for confirmation is scheduled to begin on November 3, 2015. The Debtors cannot predict the outcome of the confirmation hearing. See Note 2 for further discussion regarding the Chapter 11 Cases and the Plan of Reorganization and the Disclosure Statement.

5

Basis of Presentation, Including Application of Bankruptcy Accounting

The condensed consolidated financial statements have been prepared in accordance with US GAAP. The condensed consolidated financial statements have been prepared as if EFH Corp. is a going concern and contemplate the realization of assets and liabilities in the normal course of business. The condensed consolidated financial statements reflect the application of Financial Accounting Standards Board Accounting Standards Codification (ASC) 852, Reorganizations. During the pendency of the Chapter 11 Cases, the Debtors will operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. ASC 852 applies to entities that have filed a petition for bankruptcy under Chapter 11 of the Bankruptcy Code. The guidance requires that transactions and events directly associated with the reorganization be distinguished from the ongoing operations of the business. In addition, the guidance provides for changes in the accounting and presentation of liabilities. See Notes 8 and 10 for discussion of these accounting and reporting changes.

Investments in unconsolidated subsidiaries, which are 50% or less owned and/or do not meet accounting standards criteria for consolidation, are accounted for under the equity method (see Note 3). Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and footnotes required by US GAAP, they should be read in conjunction with the audited financial statements and related notes included in our 2014 Form 10-K. The results of operations for an interim period may not give a true indication of results for a full year. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated.

Use of Estimates

Preparation of financial statements requires estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements and estimates of expected allowed claims. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information.

Changes in Accounting Standards

In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), Presentation of Financial Statements (Topic 205) and Property Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the requirements for reporting discontinued operations. The ASU states that a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on an entity's operations andfinancial results when the component of an entity or group of components of an entity meets the criteria to be classified as held for sale, is disposed of by sale, or is disposed of other than by sale. The amendments in this ASU also require additional disclosures about discontinued operations. ASU 2014-08 is effective for the Company for the first quarter of 2015. This new requirement is relevant to our presentation of the equity method investment in Oncor and our presentation of TCEH. The new guidance eliminated a scope exception previously applicable to equity method investments, resulting in the requirement of further analysis of the presentation of the Oncor equity method investment. Based on our analysis, ASU 2014-08 will not materially affect our results of operations, financial position, or cash flows, unless a sale of our Oncor investment and/or a spin-off of TCEH is approved by the Bankruptcy Court (see Note 2), at which time presentation as discontinued operations may be appropriate.

In February 2015, the FASB issued Accounting Standards Update 2015-02 (ASU 2015-02), Amendments to the Consolidation Analysis. The ASU is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015. Early adoption is permitted. The new consolidation standard changes the criteria a reporting enterprise uses to evaluate if certain legal entities, such as limited partnerships and similar entities, should be consolidated. We are in the process of assessing the effects of the application of the new guidance on our financial statements.

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In April 2015, the FASB issued Accounting Standards Update 2015-03 (ASU 2015-03), Simplifying Balance Sheet Presentation by Presenting Debt Issuance Costs as a Deduction from Recognized Debt Liability. The ASU is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015. Early adoption is permitted. The new standard requires debt issuance costs to be classified as reductions to the face value of the related debt. We do not expect ASU 2015-03 to materially affect our financial position until we issue new debt. During the Chapter 11 Cases, debt issuance costs on prepetition debt subject to compromise will continue to be reported in liabilities subject to compromise. In August 2015, the FASB issued Accounting Standards Update 2015-15 (ASU 2015-15), Interest-Imputation of Interest (Topic 835-30) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line of Credit Arrangements. ASU 2015-15 provides guidance on the presentation of debt issuance costs associated with line-of-credit arrangements. Given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to line-of-credit arrangements, ASU 2015-15 allows an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit.

In May 2015, the FASB issued Accounting Standards Update 2015-07 (ASU 2015-07), Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share (or its Equivalent). The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with retrospective application to all periods presented. Early adoption is permitted. ASU 2015-07 removes the requirement to categorize within the fair value hierarchy investments for which fair values are estimated using the net asset value practical expedient provided by Accounting Standards Codification 820, Fair ValueMeasurement. Disclosures about investments in certain entities that calculate net asset value per share are limited under ASU 2015-07 to those investments for which the entity has elected to estimate the fair value using the net asset value practical expedient. We are currently evaluating the impact of the adoption of this ASU on our financial statements.

In August 2015, the FASB issued Accounting Standards Update 2015-13, Derivatives and Hedging (Topic 815), Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets. The ASU clarified that the use of locational marginal pricing by an independent system operator does not constitute net settlement of a contract for the purchase or sale of electricity if all the criterion of the normal purchase and normal sale scope exception are met, including physical delivery. The ASU was effective upon issuance and did not impact our financial statements.

2.    CHAPTER 11 CASES

On the Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities, filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. During the pendency of the Chapter 11 Cases, the Debtors will operate their businesses as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.

The Bankruptcy Filing resulted primarily from the adverse effects on EFH Corp.'s competitive businesses of lower wholesale electricity prices in ERCOT driven by the sustained decline in natural gas prices since mid-2008. Further, the natural gas hedges that TCEH entered into when forward market prices of natural gas were significantly higher than current prices had largely matured before the remaining positions were terminated shortly after the Bankruptcy Filing. These market conditions challenged the profitability and operating cash flows of EFH Corp.'s competitive businesses and resulted in the inability to support their significant interest payments and debt maturities, including the remaining debt obligations due in 2014, and the inability to refinance and/or extend the maturities of their outstanding debt.

Proposed Plan of Reorganization

A Chapter 11 plan of reorganization, among other things, determines the rights and satisfaction of claims of various creditors and security holders of an entity operating under the protection of the Bankruptcy Court and is subject to the ultimate outcome of stakeholder negotiations and Bankruptcy Court decisions ongoing through the date on which the Chapter 11 plan is confirmed. In order for the Debtors to emerge successfully from the Chapter 11 Cases as reorganized companies, they must obtain approval from the Bankruptcy Court and certain of their respective creditors for a Chapter 11 plan of reorganization. In September 2015, the Debtors filed the Plan of Reorganization and the Disclosure Statement. The Disclosure Statement was approved by the Bankruptcy Court in September 2015. In October 2015, the Debtors filed the Plan Supplement. The Debtors have the exclusive right to solicit the appropriate votes for the Plan of Reorganization until December 29, 2015 (the exclusivity period). In October 2015, the Plan of Reorganization was approved by the required creditors.

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In general, the Plan of Reorganization proposes a structure that involves a tax-free deconsolidation or tax-free spin-off of TCEH from EFH Corp. (Reorganized TCEH), immediately followed by the acquisition of reorganized EFH Corp. financed by existing TCEH creditors and third-party investors. Pursuant to the Plan of Reorganization and subject to certain conditions and required regulatory approvals, among other things:

• TCEH will execute a transaction that will result in a partial step-up in the tax basis of certain TCEH assets;

• the Reorganized TCEH Spin-Off will occur;

• a consortium (collectively, the Investor Group) consisting of certain TCEH creditors, an affiliate of Hunt Consolidated, Inc. (Hunt) and certain other investors designated by Hunt will acquire (the EFH Acquisition) reorganized EFH Corp. (Reorganized EFH);

• in connection with the EFH Acquisition, (i) the Investor Group will raise up to approximately $12.6 billion of equity and debt financing to invest in Reorganized EFH, (ii) a successor to Reorganized EFH will be converted to a real estate investment trust (REIT) under the Internal Revenue Code and (iii) all allowed claims against the EFH Debtors and the EFIH Debtors will receive treatment rendering them unimpaired (excluding any claims derived from or based upon make-whole, applicable premium, redemption premium or other similar payment provisions, or any other alleged premiums, fees, or claims relating to the repayment of claims and unsecured claims for post-petition interest in excess of the federal judgment rate of interest, each of which will be disallowed under the Plan of Reorganization), and

• the Debtors, the Sponsor Group, certain settling TCEH first lien creditors, certain settling TCEH second lien creditors, certain settling TCEH unsecured creditors and the official committee of unsecured creditors of the TCEH Debtors (collectively, the Settling Parties) agreed to settle certain disputes, claims and causes of action.

Plan Support Agreement

In August 2015 (as amended in September 2015), each of the Debtors entered into a Plan Support Agreement (Plan Support Agreement) with various of their respective creditors, the Sponsor Group, the official committee of unsecured creditors of the TCEH Debtors and the Investor Group in order to effect an agreed upon restructuring of the Debtors pursuant to the Plan of Reorganization. Pursuant to the Plan Support Agreement, the parties agreed, subject to the terms and conditions contained in the Plan Support Agreement, to support the Debtors' Plan of Reorganization.

Pursuant to the Plan Support Agreement, certain of the parties to the Plan Support Agreement are required to not object to or interfere with an alternative plan of reorganization even if the EFH Acquisition is not completed so long as such plan meets certain minimum conditions. All or part of the Plan Support Agreement may be terminated upon the occurrence of certain events described in the Plan Support Agreement. In addition, under the Plan Support Agreement, the supporting parties have committed to support the inclusion of releases with respect to the claims described in the Settlement Agreement (described below) in the context of an alternative plan (which would become effective when a plan becomes effective).

Settlement Agreement

The Settling Parties entered into a settlement agreement (the Settlement Agreement) in August 2015 (as amended in September 2015) to compromise and settle, among other things (a) intercompany claims among the Debtors, (b) claims and causes of actions against holders of first lien claims against TCEH and the agents and under the TCEH Senior Secured Facilities, (c) claims and causes of action against holders of interests in EFH Corp. and certain related entities and (d) claims and causes of action against each of the Debtors' current and former directors, the Sponsor Group, managers and officers and other related entities. The Settlement Agreement contemplates a release of such claims upon approval of the Settlement Agreement by the Bankruptcy Court, which would remain effective regardless of whether the EFH Acquisition is completed. The Debtors expect to seek Bankruptcy Court approval of the Settlement Agreement at the confirmation hearing for the Plan of Reorganization.

Merger and Purchase Agreement

In August 2015, EFH Corp. and EFIH entered into a Purchase Agreement and Agreement and Plan of Merger (Merger and Purchase Agreement) with two acquisition entities, Ovation Acquisition I, L.L.C. (OV1) and Ovation Acquisition II, L.L.C. (collectively, the Purchasers), which are controlled by the Investor Group. Pursuant to the Merger and Purchase Agreement, at the effective time of the Plan of Reorganization and immediately after consummation of the Reorganized TCEH Spin-Off, the Investor Group will acquire Reorganized EFH.

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The Merger and Purchase Agreement contemplates that funds received by the Purchasers pursuant to the Equity Commitment Letter, the Debt Commitment Letter and the Rights Offering and Backstop (each as defined below) will be used to facilitate the acquisition of Reorganized EFH and, as applicable, repay the allowed claims of holders of claims and interests in EFH Corp. and EFIH in full in cash (or otherwise render such claims unimpaired) pursuant to the Plan of Reorganization and, if applicable, to complete the Texas Transmission Acquisition (as defined below). The Merger and Purchase Agreement includes various conditions precedent to consummation of the transactions contemplated thereby, including a condition that certain approvals and rulings be obtained, including from the PUCT and the IRS, that are necessary to consummate the EFH Acquisition and convert Reorganized EFH into a REIT.

The Merger and Purchase Agreement may be terminated upon certain events, including, among other things, (a) by either party, if certain termination events occur under the Plan Support Agreement, including if the EFH Acquisition is not completed by April 30, 2016, subject to extension to June 30, 2016 or August 31, 2016 under certain conditions, (b) by EFH Corp. or EFIH, if their respective board of directors or managers determines in good faith that proceeding with the transactions contemplated by the Merger and Purchase Agreement would be inconsistent with its applicable fiduciary duties or (c) by the Purchasers, if EFH Corp. or EFIH fails to meet various milestones related to the Debtors' Chapter 11 Cases or otherwise materially breaches the Merger and Purchase Agreement.

EFH Corp.'s and EFIH's respective obligations under the Merger and Purchase Agreement are subject in all respects to the prior approval of the Bankruptcy Court.

Rights Offering

As contemplated by the Plan of Reorganization, OV1 intends to conduct an offering of equity rights (each, a Right, and such offering, the Rights Offering) to holders of unsecured debt claims, second lien debt claims, general unsecured claims and first lien secured claims against TCEH (Rights Offering Participants) enabling the Rights Offering Participants to purchase an aggregate of $5.787 billion of common stock of OV1 (as the successor by merger of Reorganized EFH), of which $5.087 billion of such common stock will be offered to holders of unsecured debt claims, second lien debt claims, and general unsecured claims against TCEH, and $700 million of such common stock will be offered to holders of first lien secured claims against TCEH. In October 2015, OV1 filed a registration statement on Form S-11 with the SEC to register the equity rights under the Securities Act of 1933. This quarterly report on Form 10-Q does not constitute an offer to sell, or a solicitation of an offer to purchase, the Rights.

Pursuant to a Backstop Agreement (Backstop Agreement), among certain investors named therein and their permitted assignees (Backstop Purchasers), EFH Corp., EFIH and OV1, the Backstop Purchasers have agreed to backstop $5.087 billion of Rights offered to certain of the Rights Offering Participants (Backstop).

In connection with the execution of the Merger and Purchase Agreement, each member of the Investor Group (collectively, the Equity Commitment Parties) delivered (a) an equity commitment letter (Equity Commitment Letter) in favor of EFH Corp. (including Reorganized EFH), EFIH and the Purchasers pursuant to which the Equity Commitment Parties committed to invest in one or more of the Purchasers an aggregate amount of approximately $2.013 billion (assuming the Texas Transmission Acquisition (as described below) is completed) and (b) a limited guarantee (Guarantee) in favor of EFH Corp. (including Reorganized EFH) and EFIH pursuant to which each such Equity Commitment Party committed to pay its pro rata share of all fees, costs or expenses payable by the Purchasers under the Merger and Purchase Agreement or under the Plan of Reorganization if such fees, costs or expenses become payable pursuant thereto. The aggregate liability of the Equity Commitment Parties under the Guarantee for fees and expenses is capped at $35 million.

If the Merger and Purchase Agreement, the Backstop Agreement or the Equity Commitment Letter are terminated for any reason, EFH Corp. and EFIH have waived their rights to seek any legal or equitable remedies, except in connection with the reimbursement of certain fees and expenses capped at $35 million, against the Purchasers or the Investor Group, the Backstop Purchasers or the Equity Commitment Parties, respectively.

Debt Funding Arrangements

In August 2015, in connection with the execution of the Merger and Purchase Agreement, the Investor Group entered into a commitment letter (Debt Commitment Letter) with Morgan Stanley Senior Funding, Inc. (Debt Commitment Lender) pursuant to which the Debt Commitment Lender committed to fund up to $5.5 billion under a senior secured term loan facility and $250 million under a senior secured bridge loan facility to reorganized EFIH and its subsidiaries at the closing of the EFH Acquisition.

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Texas Transmission Acquisition

In connection with the EFH Acquisition and the Rights Offering, the Purchasers, EFH Corp. and EFIH have formulated a plan to create and implement an IPO Conversion (as such term is defined in the Investor Rights Agreement (Investor Rights Agreement), dated November 2008 among Oncor and certain of its direct and indirect equity holders, including EFH Corp. and Texas Transmission, pursuant to which one of the Purchasers, as the successor to Reorganized EFH as a result of the EFH Acquisition, would serve as an IPO corporation (as defined in the Investor Rights Agreement). In connection with the execution of the Merger and Purchase Agreement, the Purchasers have delivered to EFH Corp. an offer to purchase substantially all of the outstanding IPO Units (as defined in the Investor Rights Agreement) in the IPO corporation and all of the LLC Units (as defined in the Investor Rights Agreement) in Oncor held by Texas Transmission (the Texas Transmission Acquisition). EFH Corp. has instituted an adversary proceeding in the Bankruptcy Court to enforce certain rights against Texas Transmission under the Investor Rights Agreement (see Note 11).

Other

The Plan of Reorganization is subject to revision in response to creditor and/or stakeholder claims and objections and the requirements of the Bankruptcy Code and/or the Bankruptcy Court. Unless the Plan of Reorganization receives the requisite approval from the Bankruptcy Court, upon expiration of the exclusivity period (which has already been extended to the maximum period permitted by the Bankruptcy Code, but which has been, as described below, contractually extended with certain creditors), any creditor or stakeholder would have the ability to file in the Chapter 11 Cases one or more Chapter 11 plans of reorganization. Under an agreed stipulation approved by the Bankruptcy Court, if the exclusivity period has not been terminated by December 29, 2015, certain creditor constituencies have agreed that they will not file a chapter 11 plan of reorganization (or a disclosure statement) or cause such a filing until the Bankruptcy Court issues a final ruling regarding the confirmation of the Plan of Reorganization and that until the issuance of such a ruling, the Debtors will prosecute the Plan of Reorganization with reasonable diligence.

The Plan of Reorganization and the Disclosure Statement contain or discuss certain projections of certain of the Debtors' financial performance for fiscal years 2015 through 2020. The Debtors do not, as a matter of course, publish their business plans, budgets or strategies, or make external projections or forecasts of their anticipated financial position or results of operations. The projections reflected numerous assumptions concerning our anticipated future performance and prevailing and anticipated market and economic conditions at the time they were prepared that were and continue to be beyond our control and that may not materialize. Projections are inherently subject to uncertainties and to a wide variety of significant business, economic and competitive risks, including those risks discussed in Part I, Item 1A. Risk Factors in our 2014 Form 10-K and our subsequent quarterly reports on Form 10-Q. Our actual results will vary from those contemplated by the projections and the variations may be material.

Nothing contained in this quarterly report on Form 10-Q is intended to be, nor should it be construed as, a solicitation for a vote on the Plan of Reorganization, as filed or as it may be amended. The Plan of Reorganization will become effective only if it is confirmed by the Bankruptcy Court and the conditions to consummation set forth therein are satisfied. There can be no assurance that the Bankruptcy Court will confirm the Plan of Reorganization or that the conditions to consummation of the Plan of Reorganization will be satisfied.

Scheduling Matters

In August 2015, the Bankruptcy Court issued an order establishing November 3, 2015 as the date for the commencement of the hearing to confirm the Plan of Reorganization (the Confirmation Hearing Commencement Date).The Confirmation Hearing Commencement Date could be changed by the Bankruptcy Court (on its own, upon the motion of a party or upon the Debtors' request).

Mediation

In May 2015, the Bankruptcy Court issued an order authorizing and establishing mediation between the Debtors and certain TCEH stakeholders with respect to Plan of Reorganization issues that affect the TCEH Debtors' estates. In October 2015, the parties to the mediation and the mediator agreed to extend mediation to January 15, 2016 unless otherwise extended or terminated by the Bankruptcy Court or the mediator.

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Tax Matters

In June 2014, EFH Corp. filed a request with the IRS for a private letter ruling, which request has been supplemented from time to time in response to requests from the IRS for information or as required by changes in the contemplated transactions (as supplemented, the Private Letter Ruling). It is expected that, among other things, the Private Letter Ruling if obtained will provide (A) for certain rulings regarding the qualification of (i) the transfer of certain assets and ordinary course operating liabilities to a newly-formed entity wholly-owned by TCEH (Reorganized TCEH) and (ii) the distribution of the equity of Reorganized TCEH, the cash proceeds from Reorganized TCEH debt, the cash proceeds from the sale of preferred stock in a newly-formed entity, and the right to receive payments under a tax receivables agreement (if any), to holders of TCEH first lien claims under Sections 368(a)(1)(G), 355 and 356 of the Code and (B) certain rulings regarding the eligibility of EFH Corp. to qualify as a REIT for federal income tax purposes. The Debtors intend to continue to pursue the Private Letter Ruling to support the Plan of Reorganization.

Implications of the Chapter 11 Cases

Our ability to continue as a going concern is contingent upon, among other factors, our ability to comply with the financial and other covenants contained in the DIP Facilities described in Note 9, our ability to obtain new debtor in possession financing in the event the DIP Facilities were to expire during the pendency of the Chapter 11 Cases and our ability to complete a Chapter 11 plan of reorganization in a timely manner, including obtaining creditor and Bankruptcy Court approval of such plan as well as applicable regulatory approvals required for such plan and obtaining any exit financing needed to implement such plan. These circumstances and uncertainties inherent in the bankruptcy proceedings raise substantial doubt about our ability to continue as a going concern.

Operations During the Chapter 11 Cases

In general, the Debtors have received final bankruptcy court orders with respect to first day motions and other operating motions that allow the Debtors to operate their businesses in the ordinary course, including, among others, providing for the payment of certain pre-petition employee and retiree expenses and benefits, the use of the Debtors' existing cash management system, the segregation of certain cash balances which require further order of the Bankruptcy Court for distribution, the continuation of customer contracts and programs at our retail electricity operations, the payment of certain pre-petition amounts to certain critical vendors, the ability to perform under certain pre-petition hedging and trading arrangements and the ability to pay certain pre-petition taxes and regulatory fees. In addition, the Bankruptcy Court has issued orders approving the DIP Facilities discussed in Note 9.

Pursuant to the Bankruptcy Code, the Debtors intend to comply with all applicable regulatory requirements, including all requirements related to environmental and safety law compliance, during the pendency of the Chapter 11 Cases. Further, the Debtors have been complying, and intend to continue to comply, with the various reporting obligations that are required by the Bankruptcy Court during the pendency of the Chapter 11 Cases. Moreover, to the extent the Debtors either maintain insurance policies or self-insure their regulatory compliance obligations, the Debtors intend to continue such insurance policies or self-insurance in the ordinary course of business.

Pre-Petition Claims

Holders of the substantial majority of pre-petition claims were required to file proofs of claims by the bar date established by the Bankruptcy Court. A bar date is the date by which certain claims against the Debtors must be filed if the claimants wish to receive any distribution in the Chapter 11 Cases. The Bankruptcy Court established a bar date of October 27, 2014 for the substantial majority of claims. In addition, in July 2015, the Bankruptcy Court entered an order establishing December 14, 2015 as the bar date for certain asbestos claims that arose or are deemed to have arisen before the Petition Date, except for certain specifically exempt claims.

We have received approximately 13,900 filed claims since the Petition Date. We are in the process of reconciling those claims to the amounts listed in our schedules of assets and liabilities, which includes communications with claimants to acquire additional information required for reconciliation. As of November 3, 2015, approximately 5,000 of those claims have been settled, withdrawn or expunged. To the extent claims are reconciled and resolved, we have recorded them at the expected allowed amount. Claims that remain unresolved or unreconciled through the filing of this report have been estimated based upon management's best estimate of the likely claim amounts that the Bankruptcy Court will ultimately allow.

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Beginning in November 2014, we began the process to request the Bankruptcy Court to disallow claims that we believe are duplicative, have been later amended or superseded, are without merit, are overstated or should be disallowed for other reasons. Given the substantial number of claims filed, the claims resolution process will take considerable time to complete. Differences between liability amounts recorded by the Debtors as liabilities subject to compromise and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination of the allowable claim. Differences between those final allowed claims and the liabilities recorded in the condensed consolidated balance sheets will be recognized as reorganization items in our condensed statements of consolidated income (loss) as they are resolved. The determination of how liabilities will ultimately be resolved cannot be made until the Bankruptcy Court approves a plan of reorganization or approves orders related to settlement of specific liabilities. Accordingly, the ultimate amount or resolution of such liabilities is not determinable at this time. The resolution of such claims could result in material adjustments to our financial statements.

Executory Contracts and Unexpired Leases

Under the Bankruptcy Code, we have the right to assume, assume and assign, or reject certain executory contracts and unexpired leases, subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the assumption of an executory contract or unexpired lease requires a debtor to satisfy pre-petition obligations under contracts, which may include payment of pre-petition liabilities in whole or in part. Rejection of an executory contract or unexpired lease is typically treated as a breach occurring as of the moment immediately preceding the Chapter 11 filing. Subject to certain exceptions, this rejection relieves the debtor from performing its future obligations under the contract but entitles the counterparty to assert a pre-petition general unsecured claim for damages. Parties to executory contracts or unexpired leases rejected by a debtor may file proofs of claim against that debtor's estate for rejection damages.

Since the Petition Date, we have renegotiated or rejected a limited number of executory contracts and unexpired leases. For the three and nine months ended September 30, 2015, this activity has resulted in the recognition of approximately a $2 million benefit and a $26 million expense, respectively, in contract claim adjustments recorded in reorganization items as detailed in Note 8. The Plan Supplement includes a list of contracts that the Debtors intend to either assume or reject pursuant to the Bankruptcy Code.

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3. VARIABLE INTEREST ENTITIES

A variable interest entity (VIE) is an entity with which we have a relationship or arrangement that indicates some level of control over the entity or results in economic risks to us. Accounting standards require consolidation of a VIE if we have (a) the power to direct the significant activities of the VIE and (b) the right or obligation to absorb profit and loss from the VIE (i.e., we are the primary beneficiary of the VIE). In determining the appropriateness of consolidation of a VIE, we evaluate its purpose, governance structure, decision making processes and risks that are passed on to its interest holders. We also examine the nature of any related party relationships among the interest holders of the VIE and the nature of any special rights granted to the interest holders of the VIE.

Oncor Holdings, an indirect wholly owned subsidiary of EFH Corp. that holds an approximate 80% interest in Oncor, is not consolidated in EFH Corp.'s financial statements, and instead is accounted for as an equity method investment, because the structural and operational ring-fencing measures discussed in Note 1 prevent us from having power to direct the significant activities of Oncor Holdings or Oncor. In accordance with accounting standards, we account for our investment in Oncor Holdings under the equity method, as opposed to the cost method, based on our level of influence over its activities. See below for additional information about our equity method investment in Oncor Holdings. There are no other material investments accounted for under the equity or cost method. The maximum exposure to loss from our interest in Oncor Holdings does not exceed our carrying value.

Non-Consolidation of Oncor and Oncor Holdings

Our investment in unconsolidated subsidiary as presented in the condensed consolidated balance sheets totaled $6.131 billion and $6.058 billion at September 30, 2015 and December 31, 2014, respectively, and consists almost entirely of our interest in Oncor Holdings, which we account for under the equity method as described above. Oncor provides services, principally electricity distribution, to TCEH's retail operations, and the related revenues represented 25% and 26% of Oncor Holdings' consolidated operating revenues for the nine months ended September 30, 2015 and 2014, respectively.

See Note 15 for discussion of Oncor Holdings' and Oncor's transactions with EFH Corp. and its other subsidiaries.

Distributions from Oncor Holdings and Related Considerations —Oncor Holdings' distributions of earnings to us totaled $206 million and $128 million for the nine months ended September 30, 2015 and 2014, respectively. Distributions may not be paid except to the extent Oncor maintains a required regulatory capital structure as discussed below. At September 30, 2015, $111 million was eligible to be distributed to Oncor's members after taking into account the regulatory capital structure limit, of which approximately 80% relates to our ownership interest in Oncor. The boards of directors of each of Oncor and Oncor Holdings can withhold distributions to the extent the applicable board determines in good faith that it is necessary to retain such amounts to meet expected future requirements of Oncor and/or Oncor Holdings.

Oncor's distributions are limited by its regulatory capital structure, which is required to be at or below the assumed debt-to-equity ratio established by the PUCT for ratemaking purposes, which is currently set at 60% debt to 40% equity. At September 30, 2015, Oncor's regulatory capitalization ratio was 59.3% debt and 40.7% equity. For purposes of this ratio, debt is calculated as long-term debt plus unamortized gains on reacquired debt less unamortized issuance expenses, premiums and losses on reacquired debt. The debt calculation excludes bonds issued by Oncor Electric Delivery Transition Bond Company LLC, which were issued in 2003 and 2004 to recover specific generation-related regulatory assets and other qualified costs. Equity is calculated as membership interests determined in accordance with US GAAP, excluding the effects of accounting for the Merger (which included recording the initial goodwill and fair value adjustments and the subsequent related impairments and amortization).

EFH Corp., Oncor Holdings, Oncor and Oncor's minority investor are parties to a Federal and State Income Tax Allocation Agreement. Additional income tax amounts receivable or payable may arise in the normal course under that agreement.

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Oncor Holdings Financial Statements —Condensed statements of consolidated income of Oncor Holdings and its subsidiaries for the three and nine months ended September 30, 2015 and 2014 are presented below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues	$	1,072		$	1,054		$	2,957		$	2,883
Operation and maintenance expenses	(387		)	(376		)	(1,134		)	(1,074		)
Depreciation and amortization	(217		)	(218		)	(653		)	(638		)
Taxes other than income taxes	(116		)	(115		)	(336		)	(330		)
Other income	1			3			5			10
Other deductions	(9		)	(4		)	(21		)	(11		)
Interest income	(1		)	1			(1		)	3
Interest expense and related charges	(84		)	(89		)	(250		)	(266		)
Income before income taxes	259			256			567			577
Income tax expense	(99		)	(101		)	(217		)	(230		)
Net income	160			155			350			347
Net income attributable to noncontrolling interests	(33		)	(32		)	(72		)	(71		)
Net income attributable to Oncor Holdings	$	127		$	123		$	278		$	276

Assets and liabilities of Oncor Holdings at September 30, 2015 and December 31, 2014 are presented below:

	September 30, 2015		December 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	18	$	5
Restricted cash	62		56
Trade accounts receivable — net	444		407
Trade accounts and other receivables from affiliates	156		118
Income taxes receivable from EFH Corp.	—		144
Inventories	80		73
Accumulated deferred income taxes	7		10
Prepayments and other current assets	93		91
Total current assets	860		904
Restricted cash	—		16
Other investments	95		97
Property, plant and equipment — net	12,908		12,463
Goodwill	4,064		4,064
Regulatory assets — net	1,177		1,429
Other noncurrent assets	71		67
Total assets	$	19,175	$	19,040
LIABILITIES
Current liabilities:
Short-term borrowings	$	708	$	711
Long-term debt due currently	86		639
Trade accounts payable — nonaffiliates	164		202
Income taxes payable to EFH Corp.	31		24
Accrued taxes other than income	150		174
Accrued interest	67		93
Other current liabilities	149		156
Total current liabilities	1,355		1,999
Accumulated deferred income taxes	1,918		1,978
Long-term debt, less amounts due currently	5,681		4,997
Other noncurrent liabilities and deferred credits	2,270		2,245
Total liabilities	$	11,224	$	11,219

14

4. GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

The following table provides information regarding our goodwill balance, all of which relates to the Competitive Electric segment and arose in connection with accounting for the Merger. None of the goodwill is being deducted for tax purposes.

Goodwill before impairment charges	$	18,342
Accumulated noncash impairment charges	(15,990		)
Balance at December 31, 2014	2,352
Additional noncash impairment charges in 2015	(1,400		)
Balance at September 30, 2015 (a)	$	952

____________

(a) Net of accumulated impairment charges totaling $17.39 billion.

Goodwill Impairments

Goodwill and intangible assets with indefinite useful lives are required to be tested for impairment at least annually (we have selected a December 1 test date) or whenever events or changes in circumstances indicate an impairment may exist.

We perform the following steps in testing goodwill for impairment: first, we estimate the debt-free enterprise value of the business as of the testing date taking into account future estimated cash flows and current securities values of comparable companies; second, we estimate the fair values of the individual assets and liabilities of the business at that date; third, we calculate implied goodwill as the excess of the estimated enterprise value over the estimated value of the net operating assets; and finally, we compare the implied goodwill amount to the carrying value of goodwill and, if the carrying amount exceeds the implied value, we record an impairment charge for the amount the carrying value of goodwill exceeds implied goodwill.

Wholesale electricity prices in the ERCOT market, in which our Competitive Electric segment largely operates, have generally moved with natural gas prices as marginal electricity demand is generally supplied by natural gas fueled generation facilities. Accordingly, the sustained decline in natural gas prices, which we have experienced since mid-2008, negatively impacts our profitability and cash flows and reduces the value of our generation assets, which consist largely of lignite/coal and nuclear fueled facilities. While we had partially mitigated these effects with hedging activities, we are now significantly exposed to this price risk. Because of this market condition, our analyses over the past several years have indicated that the carrying value of the Competitive Electric segment exceeds its estimated fair value (enterprise value). Consequently, we continually monitor trends in electricity prices, natural gas prices, market heat rates, capital spending for environmental and other projects and other operational factors to determine if goodwill impairment testing should be done during the course of a year and not only at the annual December 1 testing date.

During the three months ended September 30, 2015, we experienced an impairment indicator related to decreases in forward wholesale electricity prices when compared to those prices reflected in our March 31, 2015 goodwill impairment testing analysis. As a result, the likelihood of a goodwill impairment had increased, and we initiated further testing of goodwill as of September 30, 2015. We substantially completed our testing of goodwill for impairment during the period and recorded an estimated impairment of $700 million at September 30, 2015, which we reported in the Competitive Electric segment results.

During the three months ended March 31, 2015, we experienced an impairment indicator related to decreases in forward wholesale electricity prices when compared to those prices reflected in our December 1, 2014 goodwill impairment testing analysis. As a result, the likelihood of a goodwill impairment had increased, and we initiated further testing of goodwill as of March 31, 2015. We completed our testing of goodwill for impairment during the period, which resulted in an impairment of $700 million of goodwill at March 31, 2015, which we reported in the Competitive Electric segment results.

There was no change to the goodwill balance for the three and nine months ended September 30, 2014.

Key inputs into our goodwill impairment testing at September 30 and March 31, 2015 and December 1, 2014 were as follows:

• The carrying value (excluding debt) of the Competitive Electric segment exceeded its estimated enterprise value by approximately 50% at September 30, 2015, 34% at March 31, 2015 and by 17% at December 1, 2014.

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• The fair value of the Competitive Electric segment was estimated using a two-thirds weighting of value based on internally developed cash flow projections and a one-third weighting of value using implied cash flow multiples based on current securities values of comparable publicly traded companies. The internally developed cash flow projections reflect annual estimates through a terminal year calculated using a terminal year EBITDA multiple approach.

• The discount rates applied to internally developed cash flow projections were 6.00%, 6.00% and 6.25% at September 30, 2015, March 31, 2015 and December 1, 2014, respectively. The discount rate represents the weighted average cost of capital consistent with our views of the rate that an expected market participant would utilize for valuation, including the risk inherent in future cash flows, taking into account the capital structure, debt ratings and current debt yields of comparable public companies as well as an estimate of return on equity that reflects historical market returns and current market volatility for the industry.

• The cash flow projections used in both 2015 and 2014 assume rising wholesale electricity prices, although the forecasted electricity prices are less than those assumed in the cash flow projections used in prior goodwill impairment testing.

The impairment determinations involved significant assumptions and judgments. The calculations supporting the estimates of the fair value of our Competitive Electric segment and the fair values of its assets and liabilities utilized models that take into consideration multiple inputs, including commodity prices, operating parameters, discount rates, capital expenditures, the effects of proposed and final environmental regulations, securities prices of comparable publicly traded companies and other inputs. Assumptions regarding each of these inputs could have a significant effect on the related valuations. In performing these calculations, we also take into consideration assumptions on how current market participants would value the Competitive Electric segment and its operating assets and liabilities. Changes to assumptions that reflect the views of current market participants can also have a significant effect on the related valuations. The fair value measurements resulting from these models are classified as non-recurring Level 3 measurements consistent with accounting standards related to the determination of fair value (see Note 13). Because of the volatility of these factors, we cannot predict the likelihood of any future impairment.

Identifiable Intangible Assets

Identifiable intangible assets, including amounts that arose in connection with accounting for the Merger, are comprised of the following:

	September 30, 2015						December 31, 2014
Identifiable Intangible Asset	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Retail customer relationship	$	463	$	438	$	25	$	463	$	425	$	38
Capitalized in-service software	356		210		146		362		216		146
Other identifiable intangible assets (a)	58		27		31		460		291		169
Total identifiable intangible assets subject to amortization	$	877	$	675	202		$	1,285	$	932	353
Retail trade name (not subject to amortization)					955						955
Mineral interests (not currently subject to amortization)					6						7
Total identifiable intangible assets					$	1,163					$	1,315

____________

(a) See discussion below regarding impairment charges recorded in the three and nine months ended September 30, 2015 related to other identifiable intangible assets.

At September 30, 2015 and December 31, 2014, amounts related to fully amortized assets that are expired, or of no economic value, have been excluded from both the gross carrying and accumulated amortization amounts in the table above.

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Amortization expense related to finite-lived identifiable intangible assets (including the condensed statements of consolidated income (loss) line item) consisted of:

Identifiable Intangible Asset	Condensed Statement of Consolidated Income (Loss) Line	Segment	Three Months Ended September 30,				Nine Months Ended September 30,
			2015		2014		2015		2014
Retail customer relationship	Depreciation and amortization	Competitive Electric	$	4	$	6	$	13	$	17
Capitalized in-service software	Depreciation and amortization	Competitive Electric and Corporate and Other	13		11		35		34
Other identifiable intangible assets	Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization	Competitive Electric	9		19		21		56
Total amortization expense (a)			$	26	$	36	$	69	$	107

____________

(a) Amounts recorded in depreciation and amortization totaled $21 million and $25 million for the three months ended September 30, 2015 and 2014, respectively, and $54 million and $76 million for the nine months ended September 30, 2015 and 2014, respectively.

Intangible Impairments

The impairments of our generation facilities in March and September 2015 (see Note 6) resulted in the impairment of the SO₂ allowances under the Clean Air Act's acid rain cap-and-trade program that are associated with those facilities to the extent they are not projected to be used at other sites. The fair market values of the SO₂ allowances were estimated to be de minimis based on Level 3 fair value estimates (see Note 13). We also impaired certain of our SO₂ allowances under the Cross-State Air Pollution Rule (CSAPR) related to the impaired generation facilities. Accordingly, in the three and nine months ended September 30, 2015, we recorded noncash impairment charges of $4 million and $55 million, respectively, in our Competitive Electric segment (before deferred income tax benefit) in other deductions related to our existing environmental allowances and credits intangible asset. SO₂ emission allowances granted to us under the acid rain cap-and-trade program were recorded as intangible assets at fair value in connection with purchase accounting related to the Merger in 2007. Additionally, the impairments of our generation and related mining facilities in September 2015 resulted in our recording noncash impairment charges of $19 million in our Competitive Electric segment (before deferred income tax benefit) in other deductions related to mine development costs (included in other identifiable intangible assets in the table above) at the facilities.

During the three months ended March 31, 2015, we determined that certain intangible assets related to favorable power purchase contracts should be evaluated for impairment. That conclusion was based on further declines in wholesale electricity prices in ERCOT experienced during the three months ended March 31, 2015. Our fair value measurement was based on a discounted cash flow analysis of the contracts that compared the contractual price and terms of the contract to forecasted wholesale electricity and renewable energy credit prices in ERCOT. As a result of the analysis, we recorded a noncash impairment charge of $8 million in our Competitive Electric segment (before deferred income tax benefit) in other deductions (see Note 17).

Estimated Amortization of Identifiable Intangible Assets

The estimated aggregate amortization expense of identifiable intangible assets for each of the next five fiscal years is as follows:

Year	Estimated Amortization Expense
2015	$	86
2016	$	61
2017	$	50
2018	$	30
2019	$	16

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5. INCOME TAXES

EFH Corp. files a US federal income tax return that includes the results of EFCH, EFIH, Oncor Holdings and TCEH. EFH Corp. is the corporate member of the EFH Corp. consolidated group, while each of EFIH, Oncor Holdings, EFCH and TCEH is classified as a disregarded entity for US federal income tax purposes. Oncor is a partnership for US federal income tax purposes and is not a corporate member of the EFH Corp. consolidated group. Pursuant to applicable US Treasury regulations and published guidance of the IRS, corporations that are members of a consolidated group have joint and several liability for the taxes of such group.

EFH Corp. and certain of its subsidiaries (including EFCH, EFIH, and TCEH, but not including Oncor Holdings and Oncor) are parties to a Federal and State Income Tax Allocation Agreement, which provides, among other things, that any corporate member or disregarded entity in the EFH Corp. group is required to make payments to EFH Corp. in an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return. EFH Corp., Oncor Holdings, Oncor and Oncor's minority investor are parties to a separate Federal and State Income Tax Allocation Agreement, which governs the computation of federal income tax liability among such parties, and similarly provides, among other things, that each of Oncor Holdings and Oncor will pay EFH Corp. its share of an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return.

The calculation of our effective tax rate is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	$	(2,039	)	$	(146	)	$	(4,467	)	$	(2,440	)
Income tax benefit	$	452		$	72		$	990		$	830
Effective tax rate	22.2		%	49.3		%	22.2		%	34.0		%

For the three months ended September 30, 2015, the effective tax rate of 22.2% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to the nondeductible goodwill impairment charge (see Note 4) and nondeductible legal and other professional services costs related to the Chapter 11 Cases. For the three months ended September 30, 2014, the effective tax rate of 49.3% related to our income tax benefit was higher than the US Federal statutory rate of 35% due primarily to an income tax benefit related to an adjustment of reserves for uncertain tax positions for the 2007 tax year, partially offset by nondeductible legal and other professional services costs related to the Chapter 11 Cases.

For the nine months ended September 30, 2015, the effective tax rate of 22.2% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to nondeductible goodwill impairment charges (see Note 4) and nondeductible legal and other professional services costs related to the Chapter 11 Cases, partially offset by the difference in the forecasted effective tax rate and the statutory rate applied to long-lived and intangible asset impairment charges (see Notes 4 and 6) and the tax benefit recognized due to the Texas margin tax rate reduction in the second quarter of 2015. For the nine months ended September 30, 2014, the effective tax rate of 34.0% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to nondeductible legal and other professional services costs related to the Chapter 11 Cases, offset by an income tax benefit recorded in the third quarter of 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year.

Liability for Uncertain Tax Positions

In June 2015, we signed a final agreed Revenue Agent Report (RAR) with the IRS and associated documentation for the 2008 and 2009 tax years. The Bankruptcy Court approved our signing of the RAR in July 2015. As a result of receiving, agreeing to and signing the final RAR, we reduced the liability for uncertain tax positions by $23 million, resulting in a $20 million reclassification to the accumulated deferred income tax liability and the recording of a $3 million income tax benefit recorded in the Competitive Electric segment results. Total cash payment to be assessed by the IRS for tax years 2008 and 2009, but not paid during the pendency of the Chapter 11 Cases, is approximately $15 million, plus any interest that may be assessed.

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In September 2014, we signed a final agreed RAR with the IRS and associated documentation for the 2007 tax year. The Bankruptcy Court approved our signing of the RAR in October 2014. As a result of receiving, agreeing to and signing the final RAR, we reduced the liability for uncertain tax positions by $58 million, resulting in a $19 million reclassification to the accumulated deferred income tax liability and the recording of a $39 million income tax benefit reflecting deductions related to lignite depletion and the release of accrued interest on uncertain tax positions. The adjustments did not result in a significant change to the originally filed tax return nor did it result in any cash tax or interest due. The total income tax benefit of $39 million reflected a $24 million income tax benefit recorded in Corporate and Other activities and a $15 million income tax benefit reported in the Competitive Electric segment results.

6. IMPAIRMENT OF LONG-LIVED ASSETS

Impairment of Lignite/Coal Fueled Generation and Mining Assets

We evaluated our generation assets for impairment during September 2015 as a result of an impairment indicator related to the continued decline in forecasted wholesale electricity prices in ERCOT. Our evaluation concluded that impairments existed at our Martin Lake, Sandow 4 and Sandow 5 generation facilities, and the carrying value for those facilities and related mining facilities were reduced in total by $1.295 billion. Our fair value measurement for these assets was determined based on an income approach that utilized probability-weighted estimates of discounted future cash flows, which were Level 3 fair value measurements (see Note 13). Key inputs into the fair value measurement for these assets included current forecasted wholesale electricity prices in ERCOT, forecasted fuel prices, capital and operating expenditure forecasts and discount rates.

We evaluated our generation assets for impairment during March 2015 as a result of an impairment indicator related to lower forecasted wholesale electricity prices in ERCOT. Our evaluation concluded that an impairment existed at our Big Brown generation facility, and the carrying value for that facility and related mining facility was reduced by $676 million. Our fair value measurement for these assets was determined based on an income approach that utilized probability-weighted estimates of discounted future cash flows, which were Level 3 fair value measurements (see Note 13). Key inputs into the fair value measurement for these assets included current forecasted wholesale electricity prices in ERCOT, forecasted fuel prices, capital and operating expenditure forecasts and discount rates.

In July 2015, we filed notice with ERCOT that we intend to seasonally suspend operations at a second of the three units at our Martin Lake generation facility, with the units returning to service for the peak demand months of summer. In June 2015, we also assessed whether this planned notice constituted an impairment indicator for the Martin Lake generation facility and concluded that since the decision is expected to result in improved cash flows for the plant, it was not an indicator of impairment.

In the three and nine months ended September 30, 2014, we wrote off previously incurred and deferred costs totaling $9 million and $30 million, respectively, for mining projects not expected to be completed due to economic forecasts and regulatory uncertainty. These charges have been recorded in impairment of long-lived assets in the Competitive Electric segment's results.

Additional material impairments may occur in the future with respect to these assets or other of our generation facilities if forward wholesale electricity prices continue to decline or forecasted costs of producing electricity at our generation facilities increase.

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7. INTEREST EXPENSE AND RELATED CHARGES

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Interest paid/accrued on debtor-in-possession financing	$	74		$	74		$	221		$	88
Adequate protection amounts paid/accrued (a)	311			308			919			519
Interest paid/accrued on pre-petition debt (b)	—			3			243			1,152
Interest expense on pre-petition toggle notes payable in additional principal (Note 10)	—			—			—			65
Noncash realized net loss on termination of interest rate swaps (offset in unrealized net gain) (c)	—			—			—			1,237
Unrealized mark-to-market net gain on interest rate swaps	—			—			—			(1,303		)
Amortization of debt issuance, amendment and extension costs and discounts	—			—			—			67
Capitalized interest	(2		)	(3		)	(8		)	(14		)
Other	—			—			—			5
Total interest expense and related charges	$	383		$	382		$	1,375		$	1,816

____________

(a) Post-petition period only.

(b) For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps discussed in Note 14.

(c) Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

Interest expense for the nine months ended September 30, 2015 reflects interest paid and accrued on debtor-in-possession financing (see Note 9), adequate protection amounts paid and accrued, as approved by the Bankruptcy Court in June 2014 for the benefit of secured creditors of (a) $22.616 billion principal amount of outstanding borrowings from the TCEH Senior Secured Facilities, (b) $1.750 billion principal amount of outstanding TCEH Senior Secured Notes and (c) the $1.235 billion net liability related to the TCEH interest rate swaps and natural gas hedging positions terminated shortly after the Bankruptcy Filing (see Note 14), in exchange for their consent to the senior secured, super-priority liens contained in the TCEH DIP Facility and any diminution in value of their interests in the pre-petition collateral from the Petition Date, and interest paid on EFIH's pre-petition 11.00% Second Lien Notes due 2021 and 11.75% Second Lien Notes due 2022 as approved by the Bankruptcy Court in March 2015 (see Note 10). The interest rate applicable to the adequate protection amounts paid/accrued for the nine months ended September 30, 2015 is 4.68% (one-month LIBOR plus 4.50%). In connection with the completion of the Plan of Reorganization, the amount of adequate protection payments may be adjusted to reflect the valuation of the TCEH Debtors determined in connection with confirmation of the Plan of Reorganization by the Bankruptcy Court.

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The Bankruptcy Code generally restricts payment of interest on pre-petition debt, subject to certain exceptions. However, the Bankruptcy Court ordered the payment of adequate protection amounts as discussed above and post-petition interest payments on EFIH First Lien Notes in connection with the settlement in June 2014 as discussed in Note 9. Additionally, the Bankruptcy Court approved post-petition interest payments on the EFIH Second Lien Notes in March 2015 as discussed in Note 10. Additional payments may also be made upon approval by the Bankruptcy Court, at the federal judgment rate (see Note 11). Other than these amounts ordered or approved by the Bankruptcy Court, effective April 29, 2014, we discontinued recording interest expense on outstanding pre-petition debt classified as liabilities subject to compromise (LSTC). The table below shows contractual interest amounts, which are amounts due under the contractual terms of the outstanding debt, including debt subject to compromise during the Chapter 11 Cases. Interest expense reported in the condensed statements of consolidated income (loss) for the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014 does not include $327 million, $337 million, $943 million and $574 million, respectively, in contractual interest on pre-petition debt classified as LSTC, which has been stayed by the Bankruptcy Court effective on the Petition Date. For the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014, adequate protection paid/accrued presented below excludes $15 million, $15 million, $44 million and $25 million, respectively, related to interest paid/accrued on the TCEH first-lien interest rate and commodity hedge claims (see Note 14), as such amounts are not included in contractual interest amounts below.

	Three Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	101			—		—		101
EFCH	2			—		—		2
TCEH	520			296		—		224
Eliminations (b)	(31		)	—		—		(31		)
Total	$	623		$	296	$	—	$	327

	Three Months Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	114			—		—		114
EFCH	2			—		—		2
TCEH	514			293		—		221
Eliminations (b)	(31		)	—		—		(31		)
Total	$	630		$	293	$	—	$	337

	Nine Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	94		$	—	$	—	$	94
EFIH	314			—		50		264
EFCH	5			—		—		5
TCEH	1,548			875		—		673
Eliminations (b)	(93		)	—		—		(93		)
Total	$	1,868		$	875	$	50	$	943

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	Post-Petition Period Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	53		$	—	$	—	$	53
EFIH	248			—		54		194
EFCH	3			—		—		3
TCEH	871			494		—		377
Eliminations (b)	(53		)	—		—		(53		)
Total	$	1,122		$	494	$	54	$	574

___________

(a) For the nine months ended September 30, 2015 represents portion of interest related to the EFIH Second Lien Notes that was repaid based on the approval of the Bankruptcy Court; however, excludes $185 million of post-petition interest paid in 2015 that contractually related to 2014 and default interest (see Note 10). For the post-petition period ended September 30, 2014, represents interest on EFIH First Lien Notes exchanged and settled in June 2014 (see Note 9).

(b) Represents contractual interest on affiliate debt held by EFH Corp. and EFIH that is classified as LSTC.

8. REORGANIZATION ITEMS

Expenses and income directly associated with the Chapter 11 Cases are reported separately in the condensed statements of consolidated income (loss) as reorganization items as required by ASC 852, Reorganizations. Reorganization items also include adjustments to reflect the carrying value of liabilities subject to compromise (LSTC) at their estimated allowed claim amounts, as such adjustments are determined. The following table presents reorganization items incurred in the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014 as reported in the condensed statements of consolidated income (loss):

	Three Months Ended September 30, 2015			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2015		Post-Petition Period Ended September 30, 2014
Expenses related to legal advisory and representation services	$	46		$	38		$	148	$	79
Expenses related to other professional consulting and advisory services	22			22			69		72
Contract claims adjustments	(2		)	—			26		—
Fees associated with repayment of EFIH Second Lien Notes (Note 10)	—			—			28		—
Noncash liability adjustment arising from termination of interest rate swaps (Note 14)	—			—			—		278
Fees associated with completion of TCEH and EFIH DIP Facilities	—			(5		)	—		180
Loss on exchange and settlement of EFIH First Lien Notes (Note 9)	—			—			—		108
Other	2			—			4		3
Total reorganization items	$	68		$	55		$	275	$	720

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9. DEBTOR-IN-POSSESSION BORROWING FACILITIES AND LONG-TERM DEBT NOT SUBJECT TO COMPROMISE

TCEH DIP Facility — The Bankruptcy Court approved the TCEH DIP Facility in June 2014. The TCEH DIP Facility currently provides for up to $3.375 billion in senior secured, super-priority financing consisting of a revolving credit facility of up to $1.95 billion and a term loan facility of up to $1.425 billion. The TCEH DIP Facility is a Senior Secured, Super-Priority Credit Agreement by and among the TCEH Debtors, the lenders that are party thereto from time to time and an administrative and collateral agent.

The TCEH DIP Facility and related available capacity at September 30, 2015 are presented below. Borrowings are reported in the condensed consolidated balance sheets as borrowings under debtor-in-possession credit facilities. In the September 30, 2015 condensed consolidated balance sheet the borrowings under the TCEH DIP Facility are reported as current liabilities since the maturity date of the facility was May 2016 as of such date. In October 2015, the TCEH Debtors paid an $8 million extension fee and extended the maturity date of the TCEH DIP Facility to the earlier of (a) November 2016 or (b) the effective date of any reorganization plan of TCEH. The terms of the facility were otherwise unchanged by the extension. In September 2015, the TCEH Debtors extended their use of cash collateral to the earlier of (a) the effective date of a plan of reorganization or (b) 60 days following termination of the Debtors' Plan Support Agreement, provided that the TCEH Debtors do not otherwise cause an event of default under the cash collateral order.

	September 30, 2015
TCEH DIP Facility	Facility Limit		Available Cash Borrowing Capacity		Available Letter of Credit Capacity
TCEH DIP Revolving Credit Facility (a)	$	1,950	$	1,950	$	—
TCEH DIP Term Loan Facility (b)	1,425		—		436
Total TCEH DIP Facility	$	3,375	$	1,950	$	436

___________

(a) Facility used for general corporate purposes. No amounts were borrowed at September 30, 2015. Pursuant to an order of the Bankruptcy Court, the TCEH Debtors may not have more than $1.650 billion of TCEH DIP Revolving Credit Facility cash borrowings outstanding without written consent of the TCEH committee of unsecured creditors and the ad hoc group of TCEH unsecured noteholders or further order of the Bankruptcy Court.

(b) Facility used for general corporate purposes, including but not limited to, $800 million for issuing letters of credit.

At both September 30, 2015 and December 31, 2014, all $1.425 billion of the TCEH DIP Term Loan Facility has been borrowed. Of this borrowing, $800 million represents amounts that support issuances of letters of credit and have been funded to a collateral account. Of the collateral account amount at September 30, 2015, $436 million is reported as cash and cash equivalents and $364 million is reported as restricted cash, which represents the amount of outstanding letters of credit.

Amounts borrowed under the TCEH DIP Facility bear interest based on applicable LIBOR rates, subject to a 0.75% floor, plus 3%. At both September 30, 2015 and December 31, 2014, the interest rate on outstanding borrowings was 3.75%. The TCEH DIP Facility also provides for certain additional fees payable to the agents and lenders, as well as availability fees payable with respect to any unused portions of the available TCEH DIP Facility.

The TCEH Debtors' obligations under the TCEH DIP Facility are secured by a lien covering substantially all of the TCEH Debtors' assets, rights and properties, subject to certain exceptions set forth in the TCEH DIP Facility. The TCEH DIP Facility provides that all obligations thereunder constitute administrative expenses in the Chapter 11 Cases, with administrative priority and senior secured status under the Bankruptcy Code and, subject to certain exceptions set forth in the TCEH DIP Facility, have priority over any and all administrative expense claims, unsecured claims and costs and expenses in the Chapter 11 Cases. EFCH is a parent guarantor to the agreement governing the TCEH DIP Facility along with substantially all of TCEH’s subsidiaries, including all subsidiaries that are Debtors in the Chapter 11 Cases.

The TCEH DIP Facility also permits certain hedging agreements to be secured on a pari-passu basis with the TCEH DIP Facility in the event those hedging agreements meet certain criteria set forth in the TCEH DIP Facility.

In June 2014, the RCT agreed to accept a collateral bond from TCEH of up to $1.1 billion, as a substitute for its self-bond, to secure mining land reclamation obligations. The collateral bond is a $1.1 billion carve-out from the super-priority liens under the TCEH DIP Facility that will enable the RCT to be paid before the TCEH DIP Facility lenders.

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The TCEH DIP Facility provides for affirmative and negative covenants applicable to the TCEH Debtors, including affirmative covenants requiring the TCEH Debtors to provide financial information, budgets and other information to the agents under the TCEH DIP Facility, and negative covenants restricting the TCEH Debtors' ability to incur additional indebtedness, grant liens, dispose of assets, make investments, pay dividends or take certain other actions, in each case except as permitted in the TCEH DIP Facility. The TCEH Debtors' ability to borrow under the TCEH DIP Facility is subject to the satisfaction of certain customary conditions precedent set forth therein.

The TCEH DIP Facility provides for certain customary events of default, including events of default resulting from non-payment of principal, interest or other amounts when due, material breaches of representations and warranties, material breaches of covenants in the TCEH DIP Facility or ancillary loan documents, cross-defaults under other agreements or instruments and the entry of material judgments against the TCEH Debtors. The agreement governing the TCEH DIP Facility includes a covenant that requires the Consolidated Superpriority Secured Net Debt to Consolidated EBITDA ratio not exceed 3.50 to 1.00. Consolidated Superpriority Secured Net Debt consists of outstanding term loans and revolving credit exposure under the TCEH DIP Facility less unrestricted cash. Upon the existence of an event of default, the TCEH DIP Facility provides that all principal, interest and other amounts due thereunder will become immediately due and payable, either automatically or at the election of specified lenders.

EFIH DIP Facility, EFIH First Lien Notes Settlement and EFIH Second Lien Notes Repayment — The Bankruptcy Court approved the EFIH DIP Facility in June 2014. The EFIH DIP Facility provides for a $5.4 billion first-lien debtor-in-possession financing facility. Since inception, the facility has been utilized as follows:

• In June 2014, $1.836 billion of loans issued under the facility were issued as an exchange to holders of $1.673 billion principal amount of EFIH First Lien Notes plus accrued and unpaid interest totaling $78 million. Holders of substantially all of the principal amount exchanged received as payment in full a principal amount of loans under the DIP facility equal to 105% of the principal amount of the notes held plus 101% of the accrued and unpaid interest at the non-default rate on such principal;

• In June 2014, $2.438 billion of cash borrowings were used to repay all remaining $2.312 billion principal amount of EFIH First Lien Notes (plus accrued and unpaid interest totaling $128 million), and

• In March 2015, $750 million of cash borrowings were used to repay $445 million principal amount of EFIH Second Lien Notes (including accrued and unpaid pre-petition interest of $55 million and post-petition interest of $235 million) and certain fees (see Note 10).

As of September 30, 2015, remaining cash on hand from borrowings under the EFIH DIP Facility, net of fees, totaled approximately $370 million, which was held as cash and cash equivalents. In the September 30, 2015 condensed consolidated balance sheet, the borrowings under the EFIH DIP Facility are reported as current liabilities since the maturity date of the facility is June 2016.

The principal amounts outstanding under the EFIH DIP Facility bear interest based on applicable LIBOR rates, subject to a 1% floor, plus 3.25%. At both September 30, 2015 and December 31, 2014, outstanding borrowings under the EFIH DIP Facility totaled $5.4 billion at an annual interest rate of 4.25%. The EFIH DIP Facility is a non-amortizing loan that may, subject to certain limitations, be voluntarily prepaid by the EFIH Debtors, in whole or in part, without any premium or penalty.

The EFIH DIP Facility will mature on the earlier of (a) the effective date of any reorganization plan, (b) upon the event of the sale of substantially all of EFIH's assets or (c) June 2016. The maturity date may be extended to no later than December 2016 subject to the satisfaction of certain conditions, including the payment of a 25 basis point extension fee, a requirement that an acceptable plan of reorganization has been filed on or prior to such extension and the availability of certain metrics of liquidity applicable to EFIH and EFIH Finance.

EFIH's obligations under the EFIH DIP Facility are secured by a first lien covering substantially all of EFIH's assets, rights and properties, subject to certain exceptions set forth in the EFIH DIP Facility. The EFIH DIP Facility provides that all obligations thereunder constitute administrative expenses in the Chapter 11 Cases, with administrative priority and senior secured status under the Bankruptcy Code and, subject to certain exceptions set forth in the EFIH DIP Facility, will have priority over any and all administrative expense claims, unsecured claims and costs and expenses in the Chapter 11 Cases.

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The EFIH DIP Facility provides for affirmative and negative covenants applicable to EFIH and EFIH Finance, including affirmative covenants requiring EFIH and EFIH Finance to provide financial information, budgets and other information to the agents under the EFIH DIP Facility, and negative covenants restricting EFIH's and EFIH Finance's ability to incur additional indebtedness, grant liens, dispose of assets, pay dividends or take certain other actions, in each case except as permitted in the EFIH DIP Facility. The EFIH DIP Facility also includes a minimum liquidity covenant pursuant to which EFIH cannot allow the amount of its unrestricted cash (as defined in the EFIH DIP Facility) to be less than $150 million. As of September 30, 2015, EFIH was in compliance with this minimum liquidity covenant. The Oncor Ring-Fenced Entities are not restricted subsidiaries for purposes of the EFIH DIP Facility.

The EFIH DIP Facility provides for certain customary events of default, including events of default resulting from non-payment of principal, interest or other amounts when due, material breaches of representations and warranties, material breaches of covenants in the EFIH DIP Facility or ancillary loan documents, cross-defaults under other agreements or instruments and the entry of material judgments against EFIH. Upon the existence of an event of default, the EFIH DIP Facility provides that all principal, interest and other amounts due thereunder will become immediately due and payable, either automatically or at the election of specified lenders.

The EFIH DIP Facility permits, subject to certain terms, conditions and limitations set forth in the EFIH DIP Facility, EFIH to incur incremental junior lien subordinated debt in an aggregate amount not to exceed $3 billion.

Long-Term Debt Not Subject to Compromise — Amounts presented in the table below represent pre-petition liabilities that are not subject to compromise due to the debt being fully collateralized or specific orders from the Bankruptcy Court approving repayment of the debt.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
8.82% Non-Debtor Building Financing due semiannually through February 11, 2022	$	35		$	40
Unamortized fair value premium (a)	6			7
Total EFH Corp.	41			47
EFCH
9.58% Fixed Notes due in annual installments through December 4, 2019 (b)	21			21
8.254% Fixed Notes due in quarterly installments through December 31, 2021 (b)	25			29
Unamortized fair value discount (a)	(2		)	(3		)
Total EFCH	44			47
TCEH
7.48% Fixed Secured Facility Bonds with amortizing payments through January 2017 (c)	13			25
7.46% Fixed Secured Facility Bonds with amortizing payments through January 2015 (c)	—			4
Capital lease obligations	40			44
Other	2			2
Unamortized discount	(1		)	(2		)
Total TCEH	54			73
Total EFH Corp. consolidated	139			167
Less amounts due currently	(36		)	(39		)
Total long-term debt not subject to compromise	$	103		$	128

____________

(a) Amount represents unamortized fair value adjustments recorded under purchase accounting.

(b) Approved by the Bankruptcy Court for repayment.

(c) Debt issued by trust and secured by assets held by the trust.

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10. LIABILITIES SUBJECT TO COMPROMISE

The amounts classified as liabilities subject to compromise (LSTC) reflect the company's estimate of pre-petition liabilities and other expected allowed claims to be addressed in the Chapter 11 Cases and may be subject to future adjustment as the Chapter 11 Cases proceed. Debt amounts include related unamortized deferred financing costs and discounts/premiums. Amounts classified to LSTC do not include pre-petition liabilities that are fully collateralized by letters of credit or cash deposits. The following table presents LSTC as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014:

	September 30, 2015		December 31, 2014
Notes, loans and other debt per the following table	$	34,679	$	35,124
Accrued interest on notes, loans and other debt	749		804
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements (Note 14)	1,235		1,235
Trade accounts payable and other expected allowed claims	261		269
Total liabilities subject to compromise	$	36,924	$	37,432

Pre-Petition Notes, Loans and Other Debt Reported as Liabilities Subject to Compromise

Amounts presented below represent principal amounts of pre-petition notes, loans and other debt reported as liabilities subject to compromise.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
9.75% Fixed Senior Notes due October 15, 2019	$	2		$	2
10% Fixed Senior Notes due January 15, 2020	3			3
10.875% Fixed Senior Notes due November 1, 2017	33			33
11.25% / 12.00% Senior Toggle Notes due November 1, 2017	27			27
5.55% Fixed Series P Senior Notes due November 15, 2014 (a)	90			90
6.50% Fixed Series Q Senior Notes due November 15, 2024 (a)	201			201
6.55% Fixed Series R Senior Notes due November 15, 2034 (a)	291			291
Unamortized fair value discount (b)	(118		)	(118		)
Total EFH Corp.	529			529
EFIH
11% Fixed Senior Secured Second Lien Notes due October 1, 2021	322			406
11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022	1,389			1,750
11.25% / 12.25% Senior Toggle Notes due December 1, 2018	1,566			1,566
9.75% Fixed Senior Notes due October 15, 2019	2			2
Unamortized premium	243			243
Unamortized discount	(121		)	(121		)
Total EFIH	3,401			3,846
EFCH
Floating Rate Junior Subordinated Debentures, Series D due January 30, 2037	1			1
8.175% Fixed Junior Subordinated Debentures, Series E due January 30, 2037	8			8
Unamortized fair value discount (b)	(1		)	(1		)
Total EFCH	8			8
TCEH
Senior Secured Facilities:
TCEH Floating Rate Term Loan Facilities due October 10, 2014	3,809			3,809
TCEH Floating Rate Letter of Credit Facility due October 10, 2014	42			42
TCEH Floating Rate Revolving Credit Facility due October 10, 2016	2,054			2,054
TCEH Floating Rate Term Loan Facilities due October 10, 2017 (a)	$	15,691		$	15,691

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	September 30, 2015			December 31, 2014
TCEH Floating Rate Letter of Credit Facility due October 10, 2017	1,020			1,020
11.5% Fixed Senior Secured Notes due October 1, 2020	1,750			1,750
15% Fixed Senior Secured Second Lien Notes due April 1, 2021	336			336
15% Fixed Senior Secured Second Lien Notes due April 1, 2021, Series B	1,235			1,235
10.25% Fixed Senior Notes due November 1, 2015 (a)	1,833			1,833
10.25% Fixed Senior Notes due November 1, 2015, Series B (a)	1,292			1,292
10.50% / 11.25% Senior Toggle Notes due November 1, 2016	1,749			1,749
Pollution Control Revenue Bonds:
Brazos River Authority:
5.40% Fixed Series 1994A due May 1, 2029	39			39
7.70% Fixed Series 1999A due April 1, 2033	111			111
7.70% Fixed Series 1999C due March 1, 2032	50			50
8.25% Fixed Series 2001A due October 1, 2030	71			71
8.25% Fixed Series 2001D-1 due May 1, 2033	171			171
6.30% Fixed Series 2003B due July 1, 2032	39			39
6.75% Fixed Series 2003C due October 1, 2038	52			52
5.40% Fixed Series 2003D due October 1, 2029	31			31
5.00% Fixed Series 2006 due March 1, 2041	100			100
Sabine River Authority of Texas:
6.45% Fixed Series 2000A due June 1, 2021	51			51
5.20% Fixed Series 2001C due May 1, 2028	70			70
5.80% Fixed Series 2003A due July 1, 2022	12			12
6.15% Fixed Series 2003B due August 1, 2022	45			45
Trinity River Authority of Texas:
6.25% Fixed Series 2000A due May 1, 2028	14			14
Unamortized fair value discount related to pollution control revenue bonds (b)	(103		)	(103		)
Other:
Other	1			1
Unamortized discount	(91		)	(91		)
Total TCEH	31,474			31,474
Deferred debt issuance and extension costs	(733		)	(733		)
Total EFH Corp. consolidated notes, loans and other debt	$	34,679		$	35,124

___________

(a) Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation.

	September 30, 2015		December 31, 2014
EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014	$	281	$	281
EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024	545		545
EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034	456		456
TCEH Floating Rate Term Loan Facilities due October 10, 2017	19		19
TCEH 10.25% Fixed Senior Notes due November 1, 2015	213		213
TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B	150		150
Total	$	1,664	$	1,664

(b) Amount represents unamortized fair value adjustments recorded under purchase accounting.

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Repayment of EFIH Second Lien Notes

In March 2015, with the approval of the Bankruptcy Court, EFIH used some of its cash to repay (Repayment) $735 million, including interest at contractual rates, in amounts outstanding under EFIH's pre-petition 11.00% Fixed Senior Secured Second Lien Notes due October 1, 2021 (11.00% Notes) and 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 (11.75% Notes) and $15 million in certain fees and expenses of the trustee for such notes. The Repayment resulted in an $84 million reduction in the principal amount of the 11.00% Notes, a $361 million reduction in the principal amount of the 11.75% Notes and the payment of $235 million and $55 million of accrued and unpaid post-petition and pre-petition interest, respectively, at contractual rates. The Repayment required the requisite consent of the lenders under EFIH's DIP Facility. EFIH received such consent from approximately 97% of the lenders under the EFIH DIP Facility in consideration of an aggregate consent fee equal to approximately $13 million. As a result of the Repayment, as of September 30, 2015, the principal amount outstanding on the 11.00% Notes and 11.75% Notes are $322 million and $1.389 billion, respectively.

TCEH Letter of Credit Facility Activity

Borrowings under the TCEH Letter of Credit Facility have been recorded by TCEH as restricted cash that supports issuances of letters of credit. At September 30, 2015, the restricted cash related to the pre-petition TCEH Letter of Credit Facility totaled $506 million, and there were no outstanding letters of credit related to the pre-petition TCEH Letter of Credit Facility. Due to the default under the pre-petition TCEH Senior Secured Facilities, the letter of credit capacity is no longer available. In the first quarter of 2014, TCEH issued a $157 million letter of credit to a subsidiary of EFH Corp. to secure its current and future amounts payable to the subsidiary arising from recurring transactions in the normal course of business, and in 2014, the subsidiary drew on the letter of credit in the amount of $150 million to settle amounts due from TCEH. The remaining $7 million under the letter of credit expired in July 2014. For the year ended December 31, 2014 and the nine months ended September 30, 2015, $245 million and $45 million, respectively, of letters of credit have been drawn upon by counterparties to settle amounts due from TCEH. Included in the nine months ended September 30, 2015 amount was $20 million drawn by certain executive officers to satisfy payments related to long-term incentive awards.

Information Regarding Significant Pre-Petition Debt

The TCEH pre-petition debt described below is junior in right of priority and payment to the TCEH DIP Facility, and the EFIH pre-petition debt (including EFIH's guarantee of the EFH Corp. debt) described below is junior in right of priority and payment to the EFIH DIP Facility.

TCEH Senior Secured Facilities —Borrowings under the TCEH Senior Secured Facilities total $22.616 billion and consist of:

• $3.809 billion of TCEH Term Loan Facilities with interest at LIBOR plus 3.50%;

• $15.691 billion of TCEH Term Loan Facilities with interest at LIBOR plus 4.50%, excluding $19 million aggregate principal amount held by EFH Corp.;

• $42 million of cash borrowed under the TCEH Letter of Credit Facility with interest at LIBOR plus 3.50%;

• $1.020 billion of cash borrowed under the TCEH Letter of Credit Facility with interest at LIBOR plus 4.50%, and

• Amounts borrowed under the TCEH Revolving Credit Facility, which represent the entire amount of commitments under the facility totaling $2.054 billion.

The TCEH Senior Secured Facilities are fully and unconditionally guaranteed jointly and severally on a senior secured basis by EFCH, and subject to certain exceptions, each existing and future direct or indirect wholly owned US subsidiary of TCEH. The TCEH Senior Secured Facilities, the TCEH Senior Secured Notes and the TCEH first lien hedges (or any termination amounts related thereto), discussed below, are secured on a first priority basis by (i) substantially all of the current and future assets of TCEH and TCEH's subsidiaries who are guarantors of such facilities and (ii) pledges of the capital stock of TCEH and certain current and future direct or indirect subsidiaries of TCEH.

TCEH 11.5% Senior Secured Notes —The principal amount of the TCEH 11.5% Senior Secured Notes totals $1.750 billion, with interest payable at a fixed rate of 11.5% per annum. The notes are fully and unconditionally guaranteed on a joint and several basis by EFCH and each subsidiary of TCEH that guarantees the TCEH Senior Secured Facilities (collectively, the Guarantors). The notes are secured, on a first-priority basis, by security interests in all of the assets of TCEH, and the guarantees are secured on a first-priority basis by all of the assets and equity interests held by the Guarantors, in each case, to the extent such assets and equity interests secure obligations under the TCEH Senior Secured Facilities (the TCEH Collateral), subject to certain exceptions and permitted liens.

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The notes are (i) senior obligations and rank equally in right of payment with all senior indebtedness of TCEH, (ii) senior in right of payment to all existing or future unsecured and second-priority secured debt of TCEH to the extent of the value of the TCEH Collateral and (iii) senior in right of payment to any future subordinated debt of TCEH. These notes are effectively subordinated to all secured obligations of TCEH that are secured by assets other than the TCEH Collateral, to the extent of the value of the assets securing such obligations.

The guarantees of the TCEH Senior Secured Notes by the Guarantors are effectively senior to any unsecured and second-priority debt of the Guarantors to the extent of the value of the TCEH Collateral. The guarantees are effectively subordinated to all debt of the Guarantors secured by assets that are not part of the TCEH Collateral, to the extent of the value of the collateral securing that debt.

TCEH 15% Senior Secured Second Lien Notes(including Series B) — The principal amount of the TCEH 15% Senior Secured Second Lien Notes totals $1.571 billion with interest at a fixed rate of 15% per annum. The notes are fully and unconditionally guaranteed on a joint and several basis by EFCH and, subject to certain exceptions, each subsidiary of TCEH that guarantees the TCEH Senior Secured Facilities. The notes are secured, on a second-priority basis, by security interests in all of the assets of TCEH, and the guarantees (other than the guarantee of EFCH) are secured on a second-priority basis by all of the assets and equity interests of all of the Guarantors other than EFCH (collectively, the Subsidiary Guarantors), in each case, to the extent such assets and security interests secure obligations under the TCEH Senior Secured Facilities on a first-priority basis, subject to certain exceptions (including the elimination of the pledge of equity interests of any Subsidiary Guarantor to the extent that separate financial statements would be required to be filed with the SEC for such Subsidiary Guarantor under Rule 3-16 of Regulation S-X) and permitted liens. The guarantee from EFCH is not secured.

The notes are senior obligations of the issuer and rank equally in right of payment with all senior indebtedness of TCEH, are senior in right of payment to all existing or future unsecured debt of TCEH to the extent of the value of the TCEH Collateral (after taking into account any first-priority liens on the TCEH Collateral) and are senior in right of payment to any future subordinated debt of TCEH. These notes are effectively subordinated to TCEH's obligations under the TCEH Senior Secured Facilities, the TCEH Senior Secured Notes and TCEH's commodity and interest rate hedges that are secured by a first-priority lien on the TCEH Collateral and any future obligations subject to first-priority liens on the TCEH Collateral, to the extent of the value of the TCEH Collateral, and to all secured obligations of TCEH that are secured by assets other than the TCEH Collateral, to the extent of the value of the assets securing such obligations.

The guarantees of the TCEH Senior Secured Second Lien Notes by the Subsidiary Guarantors are effectively senior to any unsecured debt of the Subsidiary Guarantors to the extent of the value of the TCEH Collateral (after taking into account any first-priority liens on the TCEH Collateral). These guarantees are effectively subordinated to all debt of the Subsidiary Guarantors secured by the TCEH Collateral on a first-priority basis or that is secured by assets that are not part of the TCEH Collateral, to the extent of the value of the collateral securing that debt. EFCH's guarantee ranks equally with its unsecured debt (including debt it guarantees on an unsecured basis) and is effectively subordinated to any of its secured debt to the extent of the value of the collateral securing that debt.

TCEH 10.25% Senior Notes (including Series B) and 10.50%/11.25% Senior Toggle Notes (collectively, the TCEH Senior Notes)— The principal amount of the TCEH Senior Notes totals $4.874 billion, excluding $363 million aggregate principal amount held by EFH Corp. and EFIH, and the notes are fully and unconditionally guaranteed on a joint and several unsecured basis by TCEH's direct parent, EFCH, and by each subsidiary that guarantees the TCEH Senior Secured Facilities. The TCEH 10.25% Notes bore interest at a fixed rate of 10.25% per annum. The TCEH Toggle Notes bore interest at a fixed rate of 10.50% per annum.

EFIH 6.875% Senior Secured First Lien Notes — There were no principal amounts of the EFIH 6.875% Notes outstanding at September 30, 2015 as the notes were exchanged or settled in June 2014 as discussed in Note 9. The notes bore interest at a fixed rate of 6.875% per annum. The EFIH 6.875% Notes were secured on a first-priority basis by EFIH's pledge of its 100% ownership of the membership interests in Oncor Holdings (the EFIH Collateral) on an equal and ratable basis with the EFIH 10% Notes (discussed below).

EFIH 10% Senior Secured First Lien Notes — There were no principal amounts of the EFIH 10% Notes outstanding at September 30, 2015 as the notes were exchanged or settled in June 2014 as discussed in Note 9. The notes bore interest at a fixed rate of 10% per annum. The notes were secured by the EFIH Collateral on an equal and ratable basis with the EFIH 6.875% Notes.

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EFIH 11% Senior Secured Second Lien Notes — The principal amount of the EFIH 11% Notes totals $322 million with interest at a fixed rate of 11% per annum. The EFIH 11% Notes are secured on a second-priority basis by the EFIH Collateral on an equal and ratable basis with the EFIH 11.75% Notes. See discussion above related to the Repayment of a portion of these notes in March 2015.

The EFIH 11% Notes are senior obligations of EFIH and EFIH Finance and rank equally in right of payment with all senior indebtedness of EFIH and are effectively senior in right of payment to all existing or future unsecured debt of EFIH to the extent of the value of the EFIH Collateral. The notes have substantially the same terms as the EFIH 11.75% Notes discussed below, and the holders of the EFIH 11% Notes will generally vote as a single class with the holders of the EFIH 11.75% Notes.

EFIH 11.75% Senior Secured Second Lien Notes —The principal amount of the EFIH 11.75% Notes totals $1.389 billion with interest at a fixed rate of 11.75% per annum. The EFIH 11.75% Notes are secured on a second-priority basis by the EFIH Collateral on an equal and ratable basis with the EFIH 11% Notes. The EFIH 11.75% Notes have substantially the same covenants as the EFIH 11% Notes, and the holders of the EFIH 11.75% Notes will generally vote as a single class with the holders of the EFIH 11% Notes. See discussion above related to the Repayment of a portion of these notes in March 2015.

The EFIH 11.75% Notes were issued in private placements and are not registered under the Securities Act. EFIH had agreed to use its commercially reasonable efforts to register with the SEC notes having substantially identical terms as the EFIH 11.75% Notes (except for provisions relating to transfer restrictions and payment of additional interest) as part of an offer to exchange freely tradable notes for the EFIH 11.75% Notes. Because the exchange offer was not completed, the annual interest rate on the EFIH 11.75% Notes increased by 25 basis points (to 12.00%) in February 2013 and by an additional 25 basis points (to 12.25%) in May 2013.

EFIH 11.25%/12.25% Senior Toggle Notes — The principal amount of the EFIH Toggle Notes totals $1.566 billion with interest at a fixed rate of 11.25% per annum for cash interest and 12.25% per annum for PIK Interest. The terms of the Toggle Notes include an election by EFIH, for any interest period until June 1, 2016, to pay interest on the Toggle Notes (i) entirely in cash; (ii) by increasing the principal amount of the notes or by issuing new EFIH Toggle Notes (PIK Interest); or (iii) 50% in cash and 50% in PIK Interest. EFIH made its pre-petition interest payments on the EFIH Toggle Notes by using the PIK feature of those notes.

The EFIH Toggle Notes were issued in private placements and are not registered under the Securities Act. EFIH had agreed to use its commercially reasonable efforts to register with the SEC notes having substantially identical terms as the EFIH Toggle Notes (except for provisions relating to transfer restrictions and payment of additional interest) as part of an offer to exchange freely tradable notes for the EFIH Toggle Notes. Because the exchange offer was not completed, the annual interest rate on the EFIH Toggle Notes increased by 25 basis points (to 11.50%) in December 2013 and by an additional 25 basis points (to 11.75%) in March 2014.

EFH Corp. 10.875% Senior Notes and 11.25%/12.00% Senior Toggle Notes — The collective principal amount of these notes totals $60 million. The notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by EFCH and EFIH. The notes bore interest at a fixed rate for the 10.875% Notes of 10.875% per annum and at a fixed rate for the Toggle Notes of 11.25% per annum.

Material Cross Default/Acceleration Provisions — Certain of our pre-petition financing arrangements contain provisions that result in an event of default if there were a failure under other financing arrangements to meet payment terms or to observe other covenants that could or does result in an acceleration of payments due. Such provisions are referred to as "cross default" or "cross acceleration" provisions. The Bankruptcy Filing triggered defaults on our pre-petition debt obligations, but pursuant to the Bankruptcy Code, the creditors are stayed from taking any actions against the Debtors as a result of such defaults.

11. COMMITMENTS AND CONTINGENCIES

Guarantees

We have entered into contracts that contain guarantees to unaffiliated parties that could require performance or payment under certain conditions. Material guarantees are discussed below.

See Notes 9 and 10 for discussion of guarantees and security for certain of our post-petition and pre-petition debt.

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Letters of Credit

At September 30, 2015, TCEH had outstanding letters of credit under credit facilities totaling $364 million as follows:

• $203 million to support commodity risk management and trading margin requirements in the normal course of business, including over-the-counter hedging transactions and collateral postings with ERCOT;

• $74 million to support executory contracts and insurance agreements;

• $55 million to support TCEH's REP financial requirements with the PUCT, and

• $32 million for other credit support requirements.

The automatic stay under the Bankruptcy Code does not apply to letters of credit issued under the pre-petition credit facility and third parties may draw if the terms of a particular letter of credit so provide. See Note 10 for discussion of letter of credit draws in 2014 and 2015.

Litigation

Aurelius Derivative Claim — Aurelius Capital Master, Ltd. and ACP Master, Ltd. (Aurelius) filed a lawsuit in March 2013, amended in May 2013, in the US District Court for the Northern District of Texas (Dallas Division) against EFCH as a nominal defendant and each of the current directors and a former director of EFCH. In the lawsuit, Aurelius, as a creditor under the TCEH Senior Secured Facilities and certain TCEH secured bonds, both of which are guaranteed by EFCH, filed a derivative claim against EFCH and its directors. Aurelius alleged that the directors of EFCH breached their fiduciary duties to EFCH and its creditors, including Aurelius, by permitting TCEH to make certain loans "without collecting fair and reasonably equivalent value." The lawsuit sought recovery for the benefit of EFCH. In January 2014, the district court granted EFCH's and the directors' motion to dismiss and in February 2014 dismissed the lawsuit. Aurelius has appealed the district court's judgment to the US Court of Appeals for the Fifth Circuit (Fifth Circuit Court). The appeal was automatically stayed as a result of the Bankruptcy Filing. We cannot predict the outcome of this proceeding, including the financial effects, if any.

Make-whole Claims — In May 2014, the indenture trustee for the EFIH 10% First Lien Notes initiated litigation in the Bankruptcy Court seeking, among other things, a declaratory judgment that EFIH is obligated to pay a make-whole premium in connection with the cash repayment of the EFIH First Lien Notes discussed in Note 9 and that such make-whole premium is an allowed secured claim, or in the alternative, an allowed secured or unsecured claim for breach of contract (EFIH First Lien Make-whole Claims). The indenture trustee has alleged that the EFIH First Lien Make-whole Claims are valued at approximately $432 million plus reimbursement of expenses. The indenture trustee also filed a motion in May 2014 asking the Bankruptcy Court to lift the automatic stay for cause in order to allow the trustee's notice purporting to rescind the automatic acceleration of the EFIH First Lien Notes to take effect. Following argument and briefing on cross motions for summary judgment, in March 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors on almost all issues, including denying the indenture trustee's motion for summary judgment in full and granting the EFIH Debtors summary judgment on all but the issue of whether to lift the automatic stay. In July 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors on the issue of whether to lift the automatic stay. The result of these two rulings is that the Bankruptcy Court has found that no make-whole premium is due with respect to the EFIH 10% First Lien Notes. In July 2015, the first lien indenture trustee appealed the Bankruptcy Court's ruling to the United States District Court for the District of Delaware. The EFIH Debtors intend to vigorously defend against this appeal. We cannot predict the outcome of this appeal.

In June 2014, the indenture trustee for the EFIH Second Lien Notes initiated litigation in the Bankruptcy Court seeking similar relief with respect to the EFIH Second Lien Notes, including among other things, that EFIH is obligated to pay a make-whole premium in connection with any repayment of the EFIH Second Lien Notes and that such make-whole premium would be an allowed secured claim, or in the alternative, an allowed secured or unsecured claim for breach of contract (the EFIH Second Lien Make-whole Claims). If, as of September 30, 2015, the EFIH Second Lien Make-whole Claims were allowed, the amount of such claims would have been approximately $455 million plus reimbursement of expenses. In December 2014, the EFIH Debtors filed counterclaims for relief against the Second Lien indenture trustee, seeking declaratory relief that, among other things, EFIH is not obligated to pay a make-whole premium in connection with any repayment of the EFIH Second Lien Notes and that such make-whole premium, if owing, would not constitute an allowed secured claim (EFIH Second Lien Counterclaims). As a result of EFIH's partial repayment of the EFIH Second Lien Notes, the indenture trustee for the EFIH Second Lien Notes amended its complaint in April 2015, and the EFIH Debtors filed an answer to such complaint in April 2015. In July 2015, the EFIH Debtors filed a motion for summary judgment in the adversary proceeding. In October 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors. The order and ruling found that no make-whole premium is due with respect to the EFIH Second Lien Notes.

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In December 2014, the EFIH Debtors initiated litigation against the indenture trustee for the EFIH PIK Notes seeking, among other things, a declaratory judgment that EFIH is not obligated to pay a redemption premium in connection with the cash repayment of the EFIH PIK Notes and that any post-petition interest owing on these notes is to be paid at the statutory Federal Judgment Rate of interest. In June 2015, the Bankruptcy Court issued an opinion and entered an order dismissing the EFIH Debtors' adversary proceeding. However, in its opinion, the Bankruptcy Court noted that as an alternative the EFIH Debtors may file a claim objection to the EFIH PIK noteholders' claims made in the Chapter 11 Cases. In July 2015, the EFIH Debtors filed a claim objection with the Bankruptcy Court regarding the EFIH PIK noteholders' claims for a redemption premium and post-petition interest at the contract rate under the EFIH PIK Notes. In October 2015, the Bankruptcy Court issued opinions in favor of the EFIH Debtors. One opinion found that no make-whole premium is due with respect to the EFIH PIK Notes. The second opinion found that the EFIH PIK noteholders' allowed claim does not, as a matter of law, include post-petition interest whether at the contract rate or the Federal Judgment Rate. This opinion did find, however, that, in connection with the confirmation of a Plan of Reorganization, the Bankruptcy Court could, at its discretion, grant post-petition interest as part of the EFIH PIK noteholders' allowed claim under general principals of equity and that such grant could be at the contract rate, the Federal Judgment Rate or any other amount that the Bankruptcy Court determines to be equitable. We cannot predict whether the Bankruptcy Court will decide to grant post-petition interest to the EFIH PIK noteholders as part of their allowed claim in connection with the confirmation of the Plan of Reorganization.

In October 2015, EFH Corp. filed a claim objection with the Bankruptcy Court with respect to the EFH Corp. Series P, Q and R Senior Notes (collectively, the EFH Legacy Notes) noteholders' claims for, among other things, make-whole premiums and post-petition interest. If, as of September 30, 2015, a make-whole claim and a post-petition interest claim were allowed, such claims would be $224 million and $56 million, respectively. In October 2015, the indenture trustee for the EFH Legacy Notes filed a response to this claim objection. No argument date has been set by the Bankruptcy Court regarding the EFH Legacy Notes claim objection. EFH Corp. intends to vigorously defend against the claims described above. We cannot predict the outcome of this proceeding.

In October 2015, EFH Corp. filed a claim objection with the Bankruptcy Court with respect to the EFH Corp. 10.875% Senior Notes and 11.25%/12% Senior Toggle Notes (collectively, the EFH LBO Notes) noteholders' claims for, among other things, optional redemption payment and post-petition interest. If, as of September 30, 2015, a redemption claim and a post-petition interest claim were allowed, such claims would be $1 million and $11 million, respectively. The indenture trustee for the EFH LBO Notes has not yet filed a response to this claim objection. No argument date has been set by the Bankruptcy Court regarding the EFH LBO Notes claim objection. EFH Corp. intends to vigorously defend against the claims described above. We cannot predict the outcome of this proceeding.

In addition, creditors may make additional claims in the Chapter 11 Cases for make-whole or redemption premiums in connection with repayments or settlement of other pre-petition debt. These claims could be material. There can be no assurance regarding the outcome of any of the litigation regarding the validity or, if deemed valid, the amount of these make-whole or redemption claims.

Potential Inter/Intra Debtor Claims— In August 2014, the Bankruptcy Court entered an order in the Chapter 11 Cases establishing discovery procedures governing, among other things, certain prepetition transactions among the various Debtors' estates. In February 2015, the ad hoc group of TCEH unsecured creditors; the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH; and the official committee representing unsecured interests at EFH and EFIH filed motions with the Bankruptcy Court seeking standing to prosecute derivative claims on behalf of TCEH relating to certain of these prepetition transactions. The claims asserted by the ad hoc group of TCEH unsecured creditors and the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH, are subject to the Settlement Agreement and the Plan Support Agreement, to which both groups are party. The Bankruptcy Court entered an order in September 2015 (a) adjourning the motions filed by the ad hoc group of TCEH unsecured creditors and the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH, pending further order of the Bankruptcy Court and subject to the terms of the Plan Support Agreement and (b) adjourning the motion filed by the official committee representing unsecured interests at EFH and EFIH (who is not party to the Settlement Agreement or the Plan Support Agreement) to January 2016.

The Settlement Agreement is anticipated to be heard in connection with the hearing to consider confirmation of the Plan of Reorganization. We cannot predict the timing or outcome of future proceedings, if any, related to these transactions. The outcome of any of these claims could be material and could affect the results of operations, liquidity or financial condition of a particular Debtor.

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Adversary Complaint against Texas Transmission — In October 2015, as contemplated by the Merger and Purchase Agreement, EFH Corp. filed with the Bankruptcy Court an adversary complaint against Texas Transmission seeking a judgment from the Bankruptcy Court ordering Texas Transmission to comply with its obligation under the Investor Rights Agreement in connection with the transactions contemplated by the Merger and Purchase Agreement, including (a) in connection with the closing of the merger, selling its interests in Oncor to the Investor Group at the same price that the Investor Group has agreed to purchase EFH Corp equity under the Merger and Purchase Agreement and (b) cooperating with Oncor and EFH Corp. in implementing the IPO Conversion Plan contemplated by the Merger and Purchase Agreement in order to effectuate the REIT.

Litigation Related to EPA Reviews —In June 2008, the EPA issued an initial request for information to TCEH under the EPA's authority under Section 114 of the Clean Air Act (CAA). The stated purpose of the request is to obtain information necessary to determine compliance with the CAA, including New Source Review Standards and air permits issued by the TCEQ for the Big Brown, Monticello and Martin Lake generation facilities. In April 2013, we received an additional information request from the EPA under Section 114 related to the Big Brown, Martin Lake and Monticello facilities as well as an initial information request related to the Sandow 4 generation facility.

In July 2012, the EPA sent us a notice of violation alleging noncompliance with the CAA's New Source Review Standards and the air permits at our Martin Lake and Big Brown generation facilities. In July 2013, the EPA sent us a second notice of violation alleging noncompliance with the CAA's New Source Review Standards at our Martin Lake and Big Brown generation facilities, which the EPA said "superseded" its July 2012 notice. In August 2013, the US Department of Justice, acting as the attorneys for the EPA, filed a civil enforcement lawsuit against Luminant Generation Company LLC and Big Brown Power Company LLC in federal district court in Dallas, alleging violations of the CAA at our Big Brown and Martin Lake generation facilities. In August 2015, the district court issued its ruling on our motion to dismiss and granted the motion as to seven of the nine claims asserted by the EPA in the lawsuit. Two claims remain before the district court, and those are currently scheduled for trial in October 2017. We believe that we have complied with all requirements of the CAA and intend to vigorously defend against the remaining allegations. The lawsuit requests the maximum civil penalties available under the CAA to the government of up to $32,500 to $37,500 per day for each alleged violation, depending on the date of the alleged violation, and injunctive relief, including an order requiring the installation of best available control technology at the affected units. An adverse outcome could require substantial capital expenditures that cannot be determined at this time and could possibly require the payment of substantial penalties. We cannot predict the outcome of these proceedings, including the financial effects, if any.

Greenhouse Gas Emissions —The EPA has finalized two rules to address greenhouse gas (GHG) emissions from new, modified and reconstructed units, and existing electricity generation plants. In January 2014, the EPA proposed standards to regulate CO₂ emissions from new electricity generation plants. Luminant filed comments on the proposed standards for new sources in May 2014. In June 2014, the EPA proposed two additional rules: 1) guidelines for states to develop standards that address CO₂ emissions from existing electricity generation plants, and 2) proposed standards for modified and reconstructed electricity generation plants. The final rule for new and modified or reconstructed units were combined into one regulation in August 2015. The final rule for existing plants, also released in August 2015, would establish state-specific emission rate goals to reduce nationwide CO₂ emissions related to affected electricity generation units by over 30% from 2012 emission levels by 2030. In October 2015, the final rules, including the rule for existing plants, were published in the Federal Register. Immediately following publication of the rule for existing plants, a number of petitions for review were filed in the D.C. Circuit Court by various parties and groups challenging the rule, including challenges from twenty-six different states opposed to the rule as well as those from, among others, certain power generating companies, various business groups and some labor unions. Luminant also filed its own petition for review. In addition, several parties have filed motions to stay the implementation of the rule while the court reviews the legality of the rule for existing units. Along with several other companies, Luminant supported a motion to stay the rule filed by the Utility Air Regulatory Group by submitting a declaration in support of the stay. In August 2015, the EPA also proposed federal plan requirements and model rules for states to consider as they develop state plans to comply with the rules for GHG emissions. A federal plan would be deemed final for a state if a state fails to submit a state plan or if the EPA disapproves a submitted state plan. Comments on the federal plan proposal are due in January 2016. The EPA is expected to finalize the rule that establishes federal plan requirements by the summer of 2016. While we cannot predict the outcome of this rulemaking and legal proceedings on our results of operations, liquidity or financial condition, the impacts could be material.

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Cross-State Air Pollution Rule (CSAPR)

In July 2011, the EPA issued the CSAPR, compliance with which would have required significant additional reductions of sulfur dioxide (SO₂) and nitrogen oxide (NO_x) emissions from our fossil fueled generation units. In February 2012, the EPA released a final rule (Final Revisions) and a proposed rule revising certain aspects of the CSAPR, including increases in the emissions budgets for Texas and our generation assets as compared to the July 2011 version of the rule. In June 2012, the EPA finalized the proposed rule (Second Revised Rule). As compared to the proposed revisions to the CSAPR issued by the EPA in October 2011, the Final Revisions and the Second Revised Rule finalize emissions budgets for our generation assets that are approximately 6% lower for SO₂, 3% higher for annual NO_x and 2% higher for seasonal NO_x.

The CSAPR became effective January 1, 2015. In July 2015, following a remand of the case from the US Supreme Court to consider further legal challenges, the D.C. Circuit Court unanimously ruled in favor of us and other petitioners, holding that the CSAPR emissions budgets over-controlled Texas and other states. The D.C. Circuit Court remanded those states' budgets to the EPA for prompt reconsideration. We plan to participate in the EPA's reconsideration process to develop increased budgets that do not over-control Texas. While we cannot predict the outcome of future proceedings related to the CSAPR, including the EPA's reconsideration of the CSAPR emissions budgets for affected states, based upon our current operating plans we do not believe that the CSAPR will cause any material operational, financial or compliance issues.

State Implementation Plan (SIP)

In February 2013, in response to a petition for rulemaking filed by the Sierra Club, the EPA proposed a rule requiring certain states to replace SIP exemptions for excess emissions during malfunctions with an affirmative defense. Texas was not included in that original proposal since it already had an EPA-approved affirmative defense provision in its SIP. In 2014, as a result of a D.C. Circuit Court decision striking down an affirmative defense in another EPA rule, the EPA revised its 2013 proposal to extend the EPA's proposed findings of inadequacy to states that have affirmative defense provisions, including Texas. The EPA's revised proposal would require Texas to remove or replace its EPA-approved affirmative defense provisions for excess emissions during startup, shutdown and maintenance events. We filed comments on the EPA proposal in November 2014. In May 2015, the EPA finalized the proposal. In June 2015, we filed a petition for review in the Fifth Circuit Court challenging certain aspects of the EPA's final rule as they apply to the Texas SIP. The State of Texas and other parties have also filed similar petitions in the Fifth Circuit Court. In August 2015, the Fifth Circuit Court transferred the petitions that Luminant and other parties filed to the D.C. Circuit Court, and in October 2015 the petitions were consolidated with the pending petitions challenging the EPA's action in the D.C. Circuit Court.

In June 2014, the Sierra Club filed a petition in the D.C. Circuit Court seeking review of several EPA regulations containing affirmative defenses for malfunctions, including the MATS rule for power plants. In the petition, the Sierra Club contends this affirmative defense is no longer permissible in light of a D.C. Circuit Court decision regarding similar defenses applicable to the cement industry. Luminant filed a motion to intervene in this case. In July 2014, the D.C. Circuit Court ordered the case stayed pending the EPA's consideration of a petition for administrative reconsideration of the regulations at issue. In December 2014, the EPA signed a proposal to make technical corrections to the MATS rule. We filed comments on this proposal in April 2015. Except as set forth above, we cannot predict the timing or outcome of future proceedings related to this petition, the petition for administrative reconsideration that is pending before the EPA or the financial effects of these proceedings, if any.

Other Matters

We are involved in various legal and administrative proceedings in the normal course of business, the ultimate resolutions of which, in the opinion of management, are not anticipated to have a material effect on our results of operations, liquidity or financial condition.

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12. EQUITY

EFH Corp. has not declared or paid any dividends since the Merger.

The agreement governing the TCEH DIP Facility generally restricts TCEH's ability to make distributions or loans to any of its parent companies or their subsidiaries unless such distributions or loans are expressly permitted under the agreement governing such facility.

The agreement governing the EFIH DIP Facility generally restricts EFIH's ability to make distributions or loans to any of its parent companies or their subsidiaries unless such distributions or loans are expressly permitted under the agreement governing such facility.

Under applicable law, we are prohibited from paying any dividend to the extent that immediately following payment of such dividend, there would be no statutory surplus or we would be insolvent. In addition, due to the Chapter 11 Cases, no dividends are eligible to be paid without the approval of the Bankruptcy Court.

Equity

The following table presents the changes to equity for the nine months ended September 30, 2015:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests		Total Equity
Balance at December 31, 2014	$	2	$	7,968	$	(27,563	)	$	(130	)	$	—	$	(19,723	)
Net loss	—		—		(3,199		)	—			—		(3,199		)
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(3		)	—		(3		)
Net effects of cash flow hedges	—		—		—			1			—		1
Net effects related to Oncor	—		—		—			2			—		2
Balance at September 30, 2015	$	2	$	7,968	$	(30,762	)	$	(130	)	$	—	$	(22,922	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2015. Outstanding shares totaled 1,669,861,379 and 1,669,861,379 at September 30, 2015 and December 31, 2014, respectively.

The following table presents the changes to equity for the nine months ended September 30, 2014:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests			Total Equity
Balance at December 31, 2013	$	2	$	7,962	$	(21,157	)	$	(63	)	$	1		$	(13,255	)
Net loss	—		—		(1,334		)	—			—			(1,334		)
Effects of stock-based incentive compensation plans	—		6		—			—			—			6
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(14		)	—			(14		)
Net effects of cash flow hedges	—		—		—			1			—			1
Investment by noncontrolling interests	—		—		—			—			1			1
Other	—		1		—			—			(2		)	(1		)
Balance at September 30, 2014	$	2	$	7,969	$	(22,491	)	$	(76	)	$	—		$	(14,596	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2014. Outstanding shares totaled 1,669,861,379 and 1,669,861,383 at September 30, 2014 and December 31, 2013, respectively.

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Accumulated Other Comprehensive Income (Loss)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2015. There was no other comprehensive income (loss) before reclassification for the period.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2014	$	(53	)	$	(77	)	$	(130	)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(2		)	(2		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(3		)	(3		)
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			1			2
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(2		)	—
Balance at September 30, 2015	$	(51	)	$	(79	)	$	(130	)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2014.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2013	$	(56	)	$	(7	)	$	(63	)
Other comprehensive loss before reclassifications (after tax)	—			(11		)	(11		)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(3		)	(3		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(2		)	(2		)
Interest expense and related charges	—			—			—
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			(1		)	—
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(4		)	(2		)
Total change during the period	2			(15		)	(13		)
Balance at September 30, 2014	$	(54	)	$	(22	)	$	(76	)

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13. FAIR VALUE MEASUREMENTS

Accounting standards related to the determination of fair value define fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between willing market participants at the measurement date. We use a "mid-market" valuation convention (the mid-point price between bid and ask prices) as a practical expedient to measure fair value for the majority of our assets and liabilities subject to fair value measurement on a recurring basis. We primarily use the market approach for recurring fair value measurements and use valuation techniques to maximize the use of observable inputs and minimize the use of unobservable inputs.

We categorize our assets and liabilities recorded at fair value based upon the following fair value hierarchy:

• Level 1 valuations use quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 assets and liabilities include exchange-traded commodity contracts. For example, some of our derivatives are NYMEX or ICE futures and swaps transacted through clearing brokers for which prices are actively quoted.

• Level 2 valuations use inputs that, in the absence of actively quoted market prices, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: (a) quoted prices for similar assets or liabilities in active markets, (b) quoted prices for identical or similar assets or liabilities in markets that are not active, (c) inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves observable at commonly quoted intervals and (d) inputs that are derived principally from or corroborated by observable market data by correlation or other mathematical means. Our Level 2 valuations utilize over-the-counter broker quotes, quoted prices for similar assets or liabilities that are corroborated by correlations or other mathematical means, and other valuation inputs. For example, our Level 2 assets and liabilities include forward commodity positions at locations for which over-the-counter broker quotes are available.

• Level 3 valuations use unobservable inputs for the asset or liability. Unobservable inputs are used to the extent observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. We use the most meaningful information available from the market combined with internally developed valuation methodologies to develop our best estimate of fair value. For example, our Level 3 assets and liabilities include certain derivatives with values derived from pricing models that utilize multiple inputs to the valuations, including inputs that are not observable or easily corroborated through other means. See further discussion below.

Our valuation policies and procedures are developed, maintained and validated by a centralized risk management group that reports to the Chief Financial Officer, who also functions as the Chief Risk Officer. Risk management functions include commodity price reporting and validation, valuation model validation, risk analytics, risk control, credit risk management and risk reporting.

We utilize several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those items that are measured on a recurring basis. These methods include, among others, the use of broker quotes and statistical relationships between different price curves.

In utilizing broker quotes, we attempt to obtain multiple quotes from brokers (generally non-binding) that are active in the commodity markets in which we participate (and require at least one quote from two brokers to determine a pricing input as observable); however, not all pricing inputs are quoted by brokers. The number of broker quotes received for certain pricing inputs varies depending on the depth of the trading market, each individual broker's publication policy, recent trading volume trends and various other factors. In addition, for valuation of interest rate swaps, we used generally accepted interest rate swap valuation models utilizing month-end interest rate curves.

Probable loss from default by either us or our counterparties is considered in determining the fair value of derivative assets and liabilities. These non-performance risk adjustments take into consideration credit enhancements and the credit risks associated with our credit standing and the credit standing of our counterparties (see Note 14 for additional information regarding credit risk associated with our derivatives). We utilize published credit ratings, default rate factors and debt trading values in calculating these fair value measurement adjustments.

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Certain derivatives and financial instruments are valued utilizing option pricing models that take into consideration multiple inputs including, but not limited to, commodity prices, volatility factors, discount rates and other market based factors. Additionally, when there is not a sufficient amount of observable market data, valuation models are developed that incorporate proprietary views of market factors. Significant unobservable inputs used to develop the valuation models include volatility curves, correlation curves, illiquid pricing locations and credit/non-performance risk assumptions. Those valuation models are generally used in developing long-term forward price curves for certain commodities. We believe the development of such curves is consistent with industry practice; however, the fair value measurements resulting from such curves are classified as Level 3.

The significant unobservable inputs and valuation models are developed by employees trained and experienced in market operations and fair value measurements and validated by the company's risk management group, which also further analyzes any significant changes in Level 3 measurements. Significant changes in the unobservable inputs could result in significant upward or downward changes in the fair value measurement.

With respect to amounts presented in the following fair value hierarchy tables, the fair value measurement of an asset or liability (e.g., a contract) is required to fall in its entirety in one level, based on the lowest level input that is significant to the fair value measurement. Certain assets and liabilities would be classified in Level 2 instead of Level 3 of the hierarchy except for the effects of credit reserves and non-performance risk adjustments, respectively. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability being measured.

Assets and liabilities measured at fair value on a recurring basis consisted of the following:

September 30, 2015
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	328	$	45	$	34	$	16	$	423
Nuclear decommissioning trust – equity securities (c)	355		205		—		—		560
Nuclear decommissioning trust – debt securities (c)	—		314		—		—		314
Total assets	$	683	$	564	$	34	$	16	$	1,297
Liabilities:
Commodity contracts	$	108	$	33	$	7	$	16	$	164
Total liabilities	$	108	$	33	$	7	$	16	$	164

December 31, 2014
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	402	$	46	$	49	$	—	$	497
Nuclear decommissioning trust – equity securities (c)	375		217		—		—		592
Nuclear decommissioning trust – debt securities (c)	—		301		—		—		301
Total assets	$	777	$	564	$	49	$	—	$	1,390
Liabilities:
Commodity contracts	$	278	$	25	$	14	$	—	$	317
Total liabilities	$	278	$	25	$	14	$	—	$	317

____________

(a) See table below for description of Level 3 assets and liabilities.

(b) Fair values are determined on a contract basis, but certain contracts result in a current asset and a noncurrent liability, or vice versa, as presented in the condensed consolidated balance sheets.

(c) The nuclear decommissioning trust investment is included in the other investments line in the condensed consolidated balance sheets. See Note 17.

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Commodity contracts consist primarily of natural gas, electricity, fuel oil, uranium and coal agreements and include financial instruments entered into for hedging purposes as well as physical contracts that have not been designated normal purchases or sales. See Note 14 for further discussion regarding derivative instruments, including the termination of certain natural gas hedging agreements shortly after the Bankruptcy Filing.

Nuclear decommissioning trust assets represent securities held for the purpose of funding the future retirement and decommissioning of our nuclear generation facility. These investments include equity, debt and other fixed-income securities consistent with investment rules established by the NRC and the PUCT.

There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy for the three and nine months ended September 30, 2015 and 2014. See the table of changes in fair values of Level 3 assets and liabilities below for discussion of transfers between Level 2 and Level 3 for the three and nine months ended September 30, 2015 and 2014.

The following tables present the fair value of the Level 3 assets and liabilities by major contract type and the significant unobservable inputs used in the valuations at September 30, 2015 and December 31, 2014:

September 30, 2015
	Fair Value
Contract Type (a)	Assets		Liabilities			Total		Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	2	$	(1	)	$	1	Valuation Model	Illiquid pricing locations (c)	$25 to $40/ MWh
									Hourly price curve shape (d)	$15 to $55/ MWh
Electricity congestion revenue rights	27		(3		)	24		Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $10/MWh
Other (i)	5		(3		)	2
Total	$	34	$	(7	)	$	27

December 31, 2014
	Fair Value
Contract Type (a)	Assets		Liabilities			Total			Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	4	$	(5	)	$	(1	)	Valuation Model	Illiquid pricing locations (c)	$30 to $50/ MWh
										Hourly price curve shape (d)	$20 to $70/ MWh
Electricity congestion revenue rights	38		(4		)	34			Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $20/MWh
Coal purchases	—		(4		)	(4		)	Market Approach (e)	Illiquid price variances between mines (g)	$0 to $1/ton
										Illiquid price variances between heat content (h)	$0 to $1/ton
Other (i)	7		(1		)	6
Total	$	49	$	(14	)	$	35

____________

(a) Electricity purchase and sales contracts include hedging positions in the ERCOT regions, as well as power contracts, the valuations of which include unobservable inputs related to the hourly shaping of the price curve. Electricity congestion revenue rights contracts consist of forward purchase contracts (swaps and options) used to hedge electricity price differences between settlement points within ERCOT. Coal purchase contracts relate to western (Powder River Basin) coal.

(b) The range of the inputs may be influenced by factors such as time of day, delivery period, season and location.

(c) Based on the historical range of forward average monthly ERCOT hub and load zone prices.

(d) Based on the historical range of forward average hourly ERCOT North Hub prices.

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(e) While we use the market approach, there is either insufficient market data to consider the valuation liquid or the significance of credit reserves or non-performance risk adjustments results in a Level 3 designation.

(f) Based on the historical price differences between settlement points within the ERCOT hubs and load zones.

(g) Based on the historical range of price variances between mine locations.

(h) Based on historical ranges of forward average prices between different heat contents (potential energy in coal for a given mass).

(i) Other includes contracts for ancillary services, natural gas, power options, diesel options and coal options.

The following table presents the changes in fair value of the Level 3 assets and liabilities for the three and nine months ended September 30, 2015 and 2014.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Net asset (liability) balance at beginning of period	$	44		$	45		$	35		$	(973	)
Total unrealized valuation gains (losses)	(1		)	(3		)	13			(97		)
Purchases, issuances and settlements (a):
Purchases	5			10			37			39
Issuances	(2		)	(1		)	(7		)	(3		)
Settlements	(19		)	(21		)	(44		)	1,063
Transfers into Level 3 (b)	—			—			—			—
Transfers out of Level 3 (b)	—			(1		)	(7		)	—
Net change (c)	(17		)	(16		)	(8		)	1,002
Net asset balance at end of period	$	27		$	29		$	27		$	29
Unrealized valuation gains relating to instruments held at end of period	$	1		$	—		$	1		$	2

____________

(a) Settlements reflect reversals of unrealized mark-to-market valuations previously recognized in net income. Purchases and issuances reflect option premiums paid or received. Settlement amounts in the nine months ended September 30, 2014 reflect termination of the TCEH interest rate swaps and include the reversal of a nonperformance risk adjustment as discussed in Note 14.

(b) Includes transfers due to changes in the observability of significant inputs. Transfers in and out occur at the end of each quarter, which is when the assessments are performed. All Level 3 transfers during the periods presented are in and out of Level 2.

(c) Substantially all changes in values of commodity contracts are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities. Activity excludes changes in fair value in the month the positions settled as well as amounts related to positions entered into and settled in the same quarter.

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14. COMMODITY AND OTHER DERIVATIVE CONTRACTUAL ASSETS AND LIABILITIES

Strategic Use of Derivatives

We transact in derivative instruments, such as options, swaps, futures and forward contracts, to manage commodity price risk. Because certain of these instruments are deemed to be forward contracts under the Bankruptcy Code, they are not subject to the automatic stay, and counterparties may elect to terminate the agreements. Prior to the Petition Date, we had entered into interest rate swaps to manage our interest rate risk exposure. See Note 13 for a discussion of the fair value of derivatives.

Commodity Hedging and Trading Activity — TCEH has natural gas hedging positions designed to reduce exposure to changes in future electricity prices due to changes in the price of natural gas, thereby hedging future revenues from electricity sales and related cash flows. In ERCOT, the wholesale price of electricity has generally moved with the price of natural gas. TCEH has entered into market transactions involving natural gas-related financial instruments and has sold forward natural gas through 2016 in order to hedge a portion of electricity price exposure related to expected lignite/coal and nuclear fueled generation. TCEH also enters into derivatives, including electricity, natural gas, fuel oil, uranium, emission and coal instruments, generally for short-term hedging purposes. Consistent with existing Bankruptcy Court orders, to a limited extent, TCEH also enters into derivative transactions for proprietary trading purposes, principally in natural gas and electricity markets. Unrealized gains and losses arising from changes in the fair value of hedging and trading instruments as well as realized gains and losses upon settlement of the instruments are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities.

Interest Rate Swap Transactions — Interest rate swap agreements have been used to reduce exposure to interest rate changes by converting floating-rate debt to fixed rates, thereby hedging future interest costs and related cash flows. Interest rate basis swaps were used to effectively reduce the hedged borrowing costs. Unrealized gains and losses arising from changes in the fair value of the swaps as well as realized gains and losses upon settlement of the swaps were reported in the condensed statements of consolidated income (loss) in interest expense and related charges. As of September 30, 2015 and December 31, 2014, we had no active interest rate swap derivatives.

Termination of Commodity Hedges and Interest Rate Swaps — Commodity hedges and interest rate swaps entered into prior to the Petition Date are deemed to be forward contracts under the Bankruptcy Code. The Bankruptcy Filing constituted an event of default under these arrangements, and in accordance with the contractual terms, counterparties terminated certain positions shortly after the Bankruptcy Filing. The positions terminated consisted almost entirely of natural gas hedging positions and interest rate swaps that were secured by a first-lien interest in the same assets of TCEH on a pari passu basis with the TCEH Senior Secured Facilities and the TCEH Senior Secured Notes.

Entities with a first-lien security interest included counterparties to both our natural gas hedging positions and interest rate swaps, which had entered into master agreements that provided for netting and setoff of amounts related to these positions. Additionally, certain counterparties to only our interest rate swaps hold the same first-lien security interest. The net liability recorded upon the terminations totaled $1.108 billion, which represented a realized loss of $1.225 billion related to the interest rate swaps, net of a realized gain of $117 million related to the natural gas hedging positions. Additionally, net accounts payable amounts related to matured interest rate swaps of $127 million are also secured by the same first-lien secured interest. The total net liability of $1.235 billion is subject to the terms of settlement of TCEH's first-lien claims ultimately approved by the Bankruptcy Court and is reported in the condensed consolidated balance sheets as a liability subject to compromise. Additionally, counterparties associated with the net liability are allowed, and have been receiving, adequate protection payments related to their claims as permitted by TCEH's cash collateral order approved by the Bankruptcy Court (see Note 7).

The derivative liability related to the TCEH interest rate swaps had included a nonperformance risk adjustment (resulting in a Level 3 valuation). This fair value adjustment reflected the counterparties' exposure to our credit risk. The amount of the adjustment was after consideration of derivative assets related to natural gas hedging positions with the same counterparties. The difference between the net liability arising upon the termination of the interest rate swaps and the natural gas hedging positions and the net derivative assets and liabilities recorded totaled $278 million, substantially all of which represented the nonperformance risk adjustment, and is reported as a noncash charge in reorganization items in the condensed statements of consolidated income (loss) in accordance with ASC 852-10, Reorganizations (see Note 8).

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Financial Statement Effects of Derivatives

Substantially all derivative contractual assets and liabilities arise from mark-to-market accounting consistent with accounting standards related to derivative instruments and hedging activities. The following tables provide detail of commodity and other derivative contractual assets and liabilities (with the column totals representing the net positions of the contracts) as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014. All amounts relate to commodity contracts.

	September 30, 2015					December 31, 2014
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Current assets	$	393	$	—		$	492	$	—
Noncurrent assets	14		16			5		—
Current liabilities	—		(160		)	—		(316		)
Noncurrent liabilities	—		(4		)	—		(1		)
Net assets (liabilities)	$	407	$	(148	)	$	497	$	(317	)

At September 30, 2015 and December 31, 2014, there were no derivative positions accounted for as cash flow or fair value hedges.

The following table presents the pretax effect of derivatives on net income (gains (losses)), including realized and unrealized effects:

	Three Months Ended September 30,				Nine Months Ended September 30,
Derivative (condensed statements of consolidated income (loss) presentation)	2015		2014		2015		2014
Commodity contracts (Net gain (loss) from commodity hedging and trading activities) (a)	$	130	$	54	$	281	$	(114	)
Interest rate swaps (Interest expense and related charges) (b)	—		—		—		(128		)
Interest rate swaps (Reorganization items) (Note 8)	—		—		—		(278		)
Net gain (loss)	$	130	$	54	$	281	$	(520	)

____________

(a) Amount represents changes in fair value of positions in the derivative portfolio during the period, as realized amounts related to positions settled are assumed to equal reversals of previously recorded unrealized amounts.

(b) Includes unrealized mark-to-market net gain (loss) as well as the net realized effect on interest paid/accrued, both reported in Interest Expense and Related Charges (see Note 7).

The pretax effect (all losses) on net income and other comprehensive income (OCI) of derivative instruments previously accounted for as cash flow hedges was immaterial in both the three and nine months ended September 30, 2015 and 2014. There were no amounts recognized in OCI for the three and nine months ended September 30, 2015 and 2014.

Accumulated other comprehensive income related to cash flow hedges (excluding Oncor's interest rate hedges) at September 30, 2015 and December 31, 2014 totaled $35 million and $36 million in net losses (after-tax), respectively, substantially all of which relates to interest rate swaps previously accounted for as cash flow hedges. We expect that $2 million of net losses (after-tax) related to cash flow hedges included in accumulated other comprehensive income at September 30, 2015 will be reclassified into net income during the next twelve months as the related hedged transactions affect net income.

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Balance Sheet Presentation of Derivatives

Consistent with elections under US GAAP to present amounts on a gross basis, we report derivative assets and liabilities in the condensed consolidated balance sheets without taking into consideration netting arrangements we have with counterparties. We may enter into offsetting positions with the same counterparty, resulting in both assets and liabilities. Volatility in underlying commodity prices can result in significant changes in assets and liabilities presented from period to period.

Margin deposits that contractually offset these derivative instruments are reported separately in the condensed consolidated balance sheets. Margin deposits received from counterparties are either used for working capital or other corporate purposes or are deposited in a separate restricted cash account. At September 30, 2015 and December 31, 2014, all margin deposits held were unrestricted.

We maintain standardized master netting agreements with certain counterparties that allow for the netting of positive and negative exposures. Generally, we utilize the International Swaps and Derivatives Association (ISDA) standardized contract for financial transactions, the Edison Electric Institute standardized contract for physical power transactions and the North American Energy Standards Board (NAESB) standardized contract for physical natural gas transactions. These contain credit enhancements that allow for the right to offset assets and liabilities and collateral received in order to reduce credit exposure between us and the counterparty. These agreements contain specific language related to margin requirements, monthly settlement netting, cross-commodity netting and early termination netting, which is negotiated with the contract counterparty.

The following tables reconcile our derivative assets and liabilities as presented in the condensed consolidated balance sheets to net amounts after taking into consideration netting arrangements with counterparties and financial collateral:

September 30, 2015
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	423		$	(142	)	$	(123	)	$	158
Derivative liabilities:
Commodity contracts	(164		)	142			1			(21		)
Net amounts	$	259		$	—		$	(122	)	$	137

December 31, 2014
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	497		$	(298	)	$	(16	)	$	183
Derivative liabilities:
Commodity contracts	(317		)	298			2			(17		)
Net amounts	$	180		$	—		$	(14	)	$	166

____________

(a) Amounts presented exclude trade accounts receivable and payable related to settled financial instruments.

(b) Financial collateral consists entirely of cash margin deposits.

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Derivative Volumes

The following table presents the gross notional amounts of derivative volumes at September 30, 2015 and December 31, 2014:

	September 30, 2015	December 31, 2014
Derivative type	Notional Volume		Unit of Measure
Natural gas (a)	1,821	1,687	Million MMBtu
Electricity	43,425	22,820	GWh
Congestion Revenue Rights (b)	94,195	89,484	GWh
Coal	8	10	Million US tons
Fuel oil	42	36	Million gallons
Uranium	126	150	Thousand pounds

____________

(a) Represents gross notional forward sales, purchases and options transactions, locational basis swaps and other natural gas transactions.

(b) Represents gross forward purchases associated with instruments used to hedge electricity price differences between settlement points within ERCOT.

Credit Risk-Related Contingent Features of Derivatives

The agreements that govern our derivative instrument transactions may contain certain credit risk-related contingent features that could trigger liquidity requirements in the form of cash collateral, letters of credit or some other form of credit enhancement. Certain of these agreements require the posting of collateral if our credit rating is downgraded by one or more credit rating agencies; however, due to our credit ratings being below investment grade, substantially all of such collateral posting requirements have already been effective.

At September 30, 2015 and December 31, 2014, the fair value of liabilities related to derivative instruments under agreements with credit risk-related contingent features that were not fully collateralized and the liquidity exposure associated with those liabilities were immaterial.

In addition, certain derivative agreements that are collateralized primarily with liens on certain of our assets include indebtedness cross-default provisions that have resulted in the termination of such contracts as a result of the Bankruptcy Filing. Substantially all of the credit risk-related contingent features related to these derivatives, including amounts related to cross-default provisions, were triggered upon the Bankruptcy Filing, and substantially all of the contracts have been cancelled. There was no liquidity exposure associated with these liabilities at both September 30, 2015 and December 31, 2014. See Note 10 for a description of other pre-petition obligations that are supported by liens on certain of our assets.

As discussed immediately above, the aggregate fair values of liabilities under derivative agreements with credit risk-related contingent features, including cross-default provisions, were not material at both September 30, 2015 and December 31, 2014.

Some commodity derivative contracts contain credit risk-related contingent features that do not provide for specific amounts to be posted if the features are triggered. These provisions include material adverse change, performance assurance, and other clauses that generally provide counterparties with the right to request additional credit enhancements. The amounts disclosed above exclude credit risk-related contingent features that do not provide for specific amounts or exposure calculations.

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Concentrations of Credit Risk Related to Derivatives

We have concentrations of credit risk with the counterparties to our derivative contracts. At September 30, 2015, total credit risk exposure to all counterparties related to derivative contracts totaled $506 million (including associated accounts receivable). The net exposure to those counterparties totaled $237 million at September 30, 2015 after taking into effect netting arrangements, setoff provisions and collateral, with the largest net exposure to a single counterparty totaling $75 million. At September 30, 2015, the credit risk exposure to the banking and financial sector represented 74% of the total credit risk exposure and 52% of the net exposure.

Exposure to banking and financial sector counterparties is considered to be within an acceptable level of risk tolerance because all of this exposure is with counterparties with investment grade credit ratings. However, this concentration increases the risk that a default by any of these counterparties would have a material effect on our financial condition, results of operations and liquidity. The transactions with these counterparties contain certain provisions that would require the counterparties to post collateral in the event of a material downgrade in their credit rating.

We maintain credit risk policies with regard to our counterparties to minimize overall credit risk. These policies authorize specific risk mitigation tools including, but not limited to, use of standardized master agreements that allow for netting of positive and negative exposures associated with a single counterparty. Credit enhancements such as parent guarantees, letters of credit, surety bonds, liens on assets and margin deposits are also utilized. Prospective material changes in the payment history or financial condition of a counterparty or downgrade of its credit quality result in the reassessment of the credit limit with that counterparty. The process can result in the subsequent reduction of the credit limit or a request for additional financial assurances. An event of default by one or more counterparties could subsequently result in termination-related settlement payments that reduce available liquidity if amounts are owed to the counterparties related to the derivative contracts or delays in receipts of expected settlements if the counterparties owe amounts to us.

15. RELATED PARTY TRANSACTIONS

The following represent our significant related-party transactions.

• On a quarterly basis, we accrue a management fee payable to the Sponsor Group under the terms of a management agreement. Related amounts expensed and reported as SG&A expense totaled $10 million for both the three months ended September 30, 2015 and 2014 and $30 million for both the nine months ended September 30, 2015 and 2014. No payments were made in the three and nine months ended September 30, 2015 and 2014. We had previously paid these fees on a quarterly basis, however, beginning with the quarterly management fee due December 31, 2013, the Sponsor Group, while reserving the right to receive the fees, directed EFH Corp. to suspend payments of the management fees for an indefinite period. Effective with the Petition Date, EFH Corp. suspended allocations of such fees to TCEH and EFIH. Fees accrued as of the Petition Date have been reclassified to liabilities subject to compromise (LSTC), and fees accrued after the Petition Date have been reported in other noncurrent liabilities and deferred credits. Pursuant to the Settlement Agreement and the Plan of Reorganization discussed in Note 2, as of the effective date of the Plan of Reorganization, (a) the Sponsor Group has agreed to forego any and all claims under the management agreement in exchange for releases of liability against the causes of actions brought forth by various creditor groups and (b) EFH Corp. has proposed to reject the management agreement pursuant to the Bankruptcy Code.

• In 2007, TCEH entered into the TCEH Senior Secured Facilities with syndicates of financial institutions and other lenders. These syndicates included affiliates of GS Capital Partners, which is a member of the Sponsor Group. Affiliates of each member of the Sponsor Group have from time to time engaged in commercial banking transactions with us and/or provided financial advisory services to us, in each case in the normal course of business.

• Affiliates of GS Capital Partners were parties to certain commodity and interest rate hedging transactions with us in the normal course of business.

• Affiliates of the Sponsor Group have sold or acquired, and in the future may sell or acquire, debt or debt securities issued by us in open market transactions or through loan syndications.

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• EFH Corp. and EFIH have purchased, or received in exchanges, certain debt securities of EFH Corp. and TCEH, which they have held. Principal and interest payments received by EFH Corp. and EFIH on these investments have been used, in part, to service their outstanding debt. These investments are eliminated in consolidation in these consolidated financial statements. EFIH held $1.282 billion principal amount of EFH Corp. debt and $79 million principal amount of TCEH debt at both September 30, 2015 and December 31, 2014. EFH Corp. held $303 million principal amount of TCEH debt at both September 30, 2015 and December 31, 2014. Under the terms of the Plan of Reorganization and the Settlement Agreement, EFH Corp. and EFIH will waive their rights to the claims associated with these debt securities as of the effective time of the Plan of Reorganization.

• TCEH's retail operations pay Oncor for services it provides, principally the delivery of electricity. Expenses recorded for these services, reported in fuel, purchased power costs and delivery fees, totaled $279 million and $281 million for the three months ended September 30, 2015 and 2014, respectively, and $739 million and $746 million for the nine months ended September 30, 2015 and 2014, respectively. The fees are based on rates regulated by the PUCT that apply to all REPs. The condensed consolidated balance sheets at September 30, 2015 and December 31, 2014 reflect amounts due currently to Oncor totaling $156 million and $118 million, respectively (included in net payables due to unconsolidated subsidiary), largely related to these electricity delivery fees. Also see discussion below regarding receivables from Oncor under a Federal and State Income Tax Allocation Agreement.

• A subsidiary of EFH Corp. bills Oncor for financial and other administrative services and shared facilities at cost. Such amounts reduced reported SG&A expense by $6 million and $8 million for the three months ended September 30, 2015 and 2014, respectively, and $16 million and $23 million for the nine months ended September 30, 2015 and 2014, respectively.

• A subsidiary of EFH Corp. bills TCEH subsidiaries for information technology, financial, accounting and other administrative services at cost. These charges totaled $52 million and $47 million for the three months ended September 30, 2015 and 2014, respectively, and $151 million and $147 million for the nine months ended September 30, 2015 and 2014, respectively.

• See Note 10 for discussion of a letter of credit issued by TCEH in 2014 to a subsidiary of EFH Corp. to secure its amounts payable to the subsidiary arising from recurring transactions in the normal course.

• For the three months ended March 31, 2015, TCEH settled a $15 million payable related to information technology assets purchased from a subsidiary of EFH Corp. in 2014. In the three months ended June 30, 2015, TCEH purchased and settled $12 million of additional assets. In April 2014, prior to the Bankruptcy Filing, a subsidiary of EFH Corp. sold information technology assets to TCEH totaling $24 million. TCEH cash settled these transactions in April 2014. In the third quarter of 2014, additional information technology assets totaling $7 million were sold to TCEH, and a subsidiary of EFH Corp. settled this obligation by drawing on the letter of credit issued by TCEH. The assets are substantially for the use of TCEH and its subsidiaries.

• Under Texas regulatory provisions, the trust fund for decommissioning the Comanche Peak nuclear generation facility is funded by a delivery fee surcharge billed to REPs by Oncor, as collection agent, and remitted monthly to TCEH for contribution to the trust fund with the intent that the trust fund assets, reported in other investments in our condensed consolidated balance sheets, will ultimately be sufficient to fund the future decommissioning liability, reported in noncurrent liabilities in our condensed consolidated balance sheets. The delivery fee surcharges remitted to TCEH totaled $5 million for both the three months ended September 30, 2015 and 2014 and $13 million for both the nine months ended September 30, 2015 and 2014. Income and expenses associated with the trust fund and the decommissioning liability incurred by TCEH are offset by a net change in a receivable/payable that ultimately will be settled through changes in Oncor's delivery fee rates. At September 30, 2015 and December 31, 2014, the excess of the trust fund balance over the decommissioning liability resulted in a payable totaling $372 million and $479 million, respectively, and is reported in noncurrent liabilities. In June 2015, Luminant filed an updated nuclear decommissioning cost study and funding analysis with the PUCT.

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• We file a consolidated federal income tax return that includes Oncor Holdings' results. Oncor is not a member of our consolidated tax group, but our consolidated federal income tax return includes our portion of Oncor's results due to our equity ownership in Oncor. We also file a consolidated Texas state margin tax return that includes all of Oncor Holdings' and Oncor's results. However, under a Federal and State Income Tax Allocation Agreement, Oncor Holdings' and Oncor's federal income tax and Texas margin tax expense and related balance sheet amounts, including our income taxes receivable from or payable to Oncor Holdings and Oncor, are recorded as if Oncor Holdings and Oncor file their own corporate income tax returns.

At September 30, 2015, our net current amount receivable from Oncor Holdings related to federal and state income taxes (reported in net payables due to unconsolidated subsidiary) totaled $31 million, $29 million of which related to Oncor. The $29 million net receivable from Oncor included a $14 million state margin tax receivable and a $15 million federal income tax receivable. Additionally, at September 30, 2015 we had a noncurrent tax payable to Oncor of $65 million recorded in other noncurrent liabilities and deferred credits and a noncurrent tax receivable from Oncor Holdings of $2 million recorded in other noncurrent assets. At December 31, 2014, our net current amount payable to Oncor Holdings totaled $120 million, all of which related to Oncor. The $120 million net payable to Oncor included a $144 million federal income tax payable offset by a $24 million state margin tax receivable. Additionally, at December 31, 2014 we had noncurrent tax payable to Oncor of $64 million recorded in other noncurrent liabilities and deferred credits.

For the nine months ended September 30, 2015, EFH Corp. received income tax payments from Oncor Holdings and Oncor totaling $20 million and $63 million, respectively. For the nine months ended September 30, 2014, EFH Corp. received income tax payments from Oncor Holdings and Oncor totaling $17 million and $163 million, respectively.

• Certain transmission and distribution utilities in Texas have requirements in place to assure adequate creditworthiness of any REP to support the REP's obligation to collect securitization bond-related (transition) charges on behalf of the utility. Under these requirements, as a result of TCEH's credit rating being below investment grade, TCEH is required to post collateral support in an amount equal to estimated transition charges over specified time periods. Accordingly, at both September 30, 2015 and December 31, 2014, TCEH had posted letters of credit and/or cash in the amount of $9 million for the benefit of Oncor.

• In December 2012, Oncor became the sponsor of a new pension plan (the Oncor Plan), the participants in which consist of all of Oncor's active employees and all retirees and terminated vested participants of EFH Corp. and its subsidiaries (including discontinued businesses). Oncor had previously contractually agreed to assume responsibility for pension liabilities that are recoverable by Oncor under regulatory rate-setting provisions. As part of the pension plan actions, EFH Corp. fully funded the non-recoverable pension liabilities under the Oncor Plan. After the pension plan actions, participants remaining in the EFH Corp. pension plan consist of active employees under collective bargaining agreements (union employees). Oncor continues to be responsible for the recoverable portion of pension obligations to these union employees. Under ERISA, EFH Corp. and Oncor remain jointly and severally liable for the funding of the EFH Corp. and Oncor pension plans. We view the risk of the retained liability under ERISA related to the Oncor Plan to be not significant.

• In accordance with an agreement between EFH Corp. and Oncor, Oncor ceased participation in EFH Corp.'s OPEB plan effective July 1, 2014 and established its own OPEB plan for Oncor's eligible existing and future retirees and their dependents. Additionally, the Oncor plan participants include those former participants in the EFH Corp. OPEB plan whose employment included service with both Oncor (or a predecessor regulated electricity business) and our competitive businesses (split service participants). Under the agreement, we will retain the liability for split service participants' benefits related to their years of service with the competitive business. The methodology for OPEB cost allocations between EFH Corp. and Oncor has not changed, and the plan separation does not materially affect the net assets or cash flows of EFH Corp.

• EFH Corp.'s condensed consolidated balance sheets reflect unfunded pension and OPEB liabilities related to plans that it sponsors, but also reflects a receivable from Oncor for that portion of the unfunded liabilities for which Oncor is contractually responsible, substantially all of which is expected to be recovered in Oncor's rates. At both September 30, 2015 and December 31, 2014, the receivable amount relates only to the EFH Corp. pension plan and totaled $47 million. The amounts are classified as a noncurrent receivable from unconsolidated subsidiary. Net amounts of pension and OPEB expenses recognized in the three and nine months ended September 30, 2015 and 2014 are not material.

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• In the first quarter of 2014, a cash contribution totaling $84 million was made to the EFH Corp. retirement plan, of which $64 million was contributed by Oncor and $20 million was contributed by TCEH, which resulted in the EFH Corp. retirement plan being fully funded as calculated under the provisions of ERISA. As a result of the Bankruptcy Filing, participants in the EFH Corp. retirement plan who choose to retire would not be eligible for the lump sum payout option under the retirement plan unless the EFH Corp. retirement plan was fully funded. The payment by TCEH was accounted for as an advance to EFH Corp. that will be settled as pension and OPEB expenses are allocated to TCEH in the normal course.

• Oncor and Texas Holdings agreed to the terms of a stipulation with major interested parties to resolve all outstanding issues in the PUCT review related to the Merger. As part of this stipulation, TCEH would be required to post a letter of credit in an amount equal to $170 million to secure its payment obligations to Oncor in the event, which has not occurred, two or more rating agencies downgrade Oncor's credit rating below investment grade.

16. SEGMENT INFORMATION

Our operations are aligned into two reportable business segments: Competitive Electric and Regulated Delivery. The segments are managed separately because they are strategic business units that offer different products or services and involve different risks.

The Competitive Electric segment is engaged in competitive market activities consisting of electricity generation, wholesale energy sales and purchases, commodity risk management and trading activities, and retail electricity operations for residential and business customers, all largely in the ERCOT market. These activities are conducted by TCEH.

The Regulated Delivery segment consists largely of our investment in Oncor. Oncor is engaged in regulated electricity transmission and distribution operations in Texas. These activities are conducted by Oncor, including its wholly owned bankruptcy-remote financing subsidiary. See Note 3 for discussion of the reporting of Oncor Holdings and, accordingly, the Regulated Delivery segment, as an equity method investment. See Note 15 for discussion of material transactions with Oncor, including payment to Oncor of electricity delivery fees, which are based on rates regulated by the PUCT.

Corporate and Other represents the remaining non-segment operations consisting primarily of discontinued businesses, general corporate expenses and interest and other expenses related to EFH Corp., EFIH and EFCH.

The business segment results reflect the application of ASC 852, Reorganizations. The accounting policies of the business segments are the same as those described in the summary of significant accounting policies in Note 1 to the Financial Statements in our 2014 Form 10-K. Our chief operating decision maker uses more than one measure to assess segment performance, including reported segment net income (loss), which is the measure most comparable to consolidated net income (loss) prepared based on GAAP. We account for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices or regulated rates. Certain shared services costs are allocated to the segments.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues (all Competitive Electric)	$	1,737		$	1,807		$	4,265		$	4,731
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	$	127		$	123		$	278		$	276
Net income (loss):
Competitive Electric	$	(1,517	)	$	(37	)	$	(3,068	)	$	(1,195	)
Regulated Delivery	127			123			278			276
Corporate and Other	(70		)	(37		)	(409		)	(415		)
Consolidated net income (loss)	$	(1,460	)	$	49		$	(3,199	)	$	(1,334	)

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17. SUPPLEMENTARY FINANCIAL INFORMATION

Other Income and Deductions

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Other income:
Office space rental income (a)	$	3	$	3	$	8	$	8
Sale of land (b)	—		2		6		2
Mineral rights royalty income (b)	1		1		3		3
Contract settlements (b)	2		—		2		—
All other	2		2		8		9
Total other income	$	8	$	8	$	27	$	22
Other deductions:
Impairment of favorable purchase contracts (Note 4) (b)	$	—	$	—	$	8	$	—
Impairment of emission allowances (Note 4) (b)	4		—		55		—
Impairment of mining development costs (Note 4) (b)	19		—		19		—
All other	3		5		4		7
Total other deductions	$	26	$	5	$	86	$	7

____________

(a) Reported in Corporate and Other.

(b) Reported in Competitive Electric segment.

Restricted Cash

	September 30, 2015				December 31, 2014
	Current Assets		Noncurrent Assets		Current Assets		Noncurrent Assets
Amounts related to TCEH's DIP Facility (Note 9)	$	364	$	—	$	—	$	350
Amounts related to TCEH's pre-petition Letter of Credit Facility (Note 10) (a)	—		506		—		551
Other	4		—		6		—
Total restricted cash	$	368	$	506	$	6	$	901

____________

(a) See Note 10 for discussion of letter of credit draws in 2015 and 2014.

Trade Accounts Receivable

	September 30, 2015			December 31, 2014
Wholesale and retail trade accounts receivable	$	786		$	604
Allowance for uncollectible accounts	(16		)	(15		)
Trade accounts receivable — net	$	770		$	589

Gross trade accounts receivable at September 30, 2015 and December 31, 2014 included unbilled revenues of $287 million and $239 million, respectively.

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Allowance for Uncollectible Accounts Receivable

	Nine Months Ended September 30,
	2015			2014
Allowance for uncollectible accounts receivable at beginning of period	$	15		$	14
Increase for bad debt expense	29			30
Decrease for account write-offs	(28		)	(27		)
Allowance for uncollectible accounts receivable at end of period	$	16		$	17

Inventories by Major Category

	September 30, 2015		December 31, 2014
Materials and supplies	$	215	$	214
Fuel stock	144		215
Natural gas in storage	29		39
Total inventories	$	388	$	468

Other Investments

	September 30, 2015		December 31, 2014
Nuclear plant decommissioning trust	$	874	$	893
Assets related to employee benefit plans, including employee savings programs, net of distributions	60		61
Land	36		37
Miscellaneous other	4		4
Total other investments	$	974	$	995

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Nuclear Decommissioning Trust — Investments in a trust that will be used to fund the costs to decommission the Comanche Peak nuclear generation plant are carried at fair value. Decommissioning costs are being recovered from Oncor's customers as a delivery fee surcharge over the life of the plant and deposited by TCEH in the trust fund. Income and expense associated with the trust fund and the decommissioning liability are offset by a corresponding change in a receivable/payable (currently a payable reported in noncurrent liabilities) that will ultimately be settled through changes in Oncor's delivery fees rates (see Note 15). The nuclear decommissioning trust fund is not a debtor under the Chapter 11 Cases. A summary of investments in the fund follows:

	September 30, 2015
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	304	$	11	$	(1	)	$	314
Equity securities (c)	289		279		(8		)	560
Total	$	593	$	290	$	(9	)	$	874

	December 31, 2014
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	288	$	13	$	—		$	301
Equity securities (c)	276		320		(4		)	592
Total	$	564	$	333	$	(4	)	$	893

____________

(a) Includes realized gains and losses on securities sold.

(b) The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's Investors Services, Inc. The debt securities are heavily weighted with municipal bonds. The debt securities had an average coupon rate of 3.58% and 4.35% at September 30, 2015 and December 31, 2014, respectively, and an average maturity of 7 years and 6 years at September 30, 2015 and December 31, 2014, respectively.

(c) The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index.

Debt securities held at September 30, 2015 mature as follows: $96 million in one to five years, $85 million in five to ten years and $133 million after ten years.

The following table summarizes proceeds from sales of available-for-sale securities and the related realized gains and losses from such sales.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Realized gains	$	1		$	1		$	2		$	2
Realized losses	$	(2	)	$	—		$	(3	)	$	(1	)
Proceeds from sales of securities	$	242		$	165		$	315		$	250
Investments in securities	$	(247	)	$	(170	)	$	(328	)	$	(263	)

Property, Plant and Equipment

At September 30, 2015 and December 31, 2014, property, plant and equipment of $10.1 billion and $12.4 billion, respectively, is stated net of accumulated depreciation and amortization of $4.2 billion and $5.3 billion, respectively.

The estimated remaining useful lives of our lignite/coal and nuclear generation facilities range from 17 to 54 years. Those estimated lives are subject to change as market factors evolve, including changes in environmental regulation and wholesale electricity price forecasts.

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Asset Retirement and Mining Reclamation Obligations

These liabilities primarily relate to nuclear generation plant decommissioning, land reclamation related to lignite mining, removal of lignite/coal fueled plant ash treatment facilities and generation plant asbestos removal and disposal costs. There is no earnings impact with respect to changes in the nuclear plant decommissioning liability, as all costs are recoverable through the regulatory process as part of Oncor's delivery fees.

In December 2014, the EPA signed the final Disposal of Coal Combustion Residuals from Electric Utilities rule (the CCR rule), and in April 2015, the rule was posted in the Federal Register. We have established an estimated $59 million asset retirement obligation related to the rule for our existing facilities.

The following table summarizes the changes to these obligations, reported in other current liabilities and other noncurrent liabilities and deferred credits in the condensed consolidated balance sheets, for the nine months ended September 30, 2015:

	Nuclear Plant Decommissioning		Mining Land Reclamation			Other			Total
Liability at December 31, 2014	$	413	$	165		$	36		$	614
Additions:
Accretion	19		15			4			38
Adjustment for new cost estimate (a)	70		—			—			70
Incremental reclamation costs (b)	—		—			59			59
Reductions:
Payments	—		(44		)	(1		)	(45		)
Liability at September 30, 2015	502		136			98			736
Less amounts due currently	—		(65		)	—			(65		)
Noncurrent liability at September 30, 2015	$	502	$	71		$	98		$	671

____________

(a) The adjustment for nuclear plant decommissioning resulted from a new cost estimate completed in the second quarter of 2015. In accordance with regulatory requirements, a new cost estimate is completed every five years. The increase in the liability was driven by increased security and fuel-handling costs.

(b) The adjustment for other asset retirement obligations resulted from the effect on our estimated retirement obligation related to coal combustion residual facilities at our lignite/coal fueled generation facilities that arose from the CCR rule discussed above.

Other Noncurrent Liabilities and Deferred Credits

The balance of other noncurrent liabilities and deferred credits consists of the following:

	September 30, 2015		December 31, 2014
Uncertain tax positions, including accrued interest	$	53	$	74
Retirement plan and other employee benefits (a)	248		243
Asset retirement and mining reclamation obligations	671		560
Unfavorable purchase and sales contracts	549		566
Nuclear decommissioning fund excess over asset retirement obligation (Note 15)	372		479
Other	190		155
Total other noncurrent liabilities and deferred credits	$	2,083	$	2,077

____________

(a) Includes $47 million at both September 30, 2015 and December 31, 2014, representing pension liabilities related to Oncor (see Note 15).

Unfavorable Purchase and Sales Contracts — The amortization of unfavorable purchase and sales contracts totaled $6 million for both the three months ended September 30, 2015 and 2014 and $17 million for both the nine months ended September 30, 2015 and 2014. See Note 4 for intangible assets related to favorable purchase and sales contracts.

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The estimated amortization of unfavorable purchase and sales contracts for each of the next five fiscal years is as follows:

Year	Amount
2015	$	24
2016	$	24
2017	$	24
2018	$	24
2019	$	24

Fair Value of Debt

	September 30, 2015				December 31, 2014
Debt:	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Borrowings under debtor-in-possession credit facilities (Note 9)	$	6,825	$	6,815	$	6,825	$	6,830
Pre-petition notes, loans and other debt reported as liabilities subject to compromise (Note 10) (a)	$	35,412	$	14,251	$	35,857	$	21,411
Long-term debt not subject to compromise, excluding capital lease obligations (Note 9)	$	99	$	102	$	123	$	119

____________

(a) Carrying amount excludes deferred debt issuance and extension costs.

We determine fair value in accordance with accounting standards as discussed in Note 13, and at September 30, 2015, our debt fair value represents Level 2 valuations. We obtain security pricing from an independent party who uses broker quotes and third-party pricing services to determine fair values. Where relevant, these prices are validated through subscription services such as Bloomberg.

Supplemental Cash Flow Information

	Nine Months Ended September 30,
	2015			2014
Cash payments related to:
Interest paid (a)	$	1,440		$	1,251
Capitalized interest	(8		)	(14		)
Interest paid (net of capitalized interest) (a)	$	1,432		$	1,237
Income taxes	$	51		$	55
Reorganization items (b)	$	229		$	69
Noncash investing and financing activities:
Construction expenditures (c)	$	64		$	77
Debt exchange and extension transactions (d)	$	—		$	(85	)
Income tax adjustment related to AMT utilization (e)	$	3		$	—

____________

(a) Net of amounts received under interest rate swap agreements. This amount also includes amounts paid for adequate protection.

(b) Represents cash payments for legal and other consulting services.

(c) Represents end-of-period accruals.

(d) For the nine months ended September 30, 2014, represents $1.836 billion principal amount of loans issued under the EFIH DIP Facility in excess of $1.673 billion principal amount of EFIH First Lien Notes exchanged and $78 million of related accrued interest (see Note 9).

(e) Represents a reduction to EFH Corp.'s investment in Oncor Holdings due to an income tax adjustment related to alternative minimum tax (AMT) utilization by Oncor.

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Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations for the three and nine months ended September 30, 2015 and 2014 should be read in conjunction with our condensed consolidated financial statements and the notes to those statements. Comparisons of year-over-year results are impacted by the effects of the Bankruptcy Filing and the application of Financial Accounting Standards Board Accounting Standards Codification (ASC) 852, Reorganizations.

All dollar amounts in the tables in the following discussion and analysis are stated in millions of US dollars unless otherwise indicated.

Business

EFH Corp., a Texas corporation, is a Dallas-based holding company that conducts its operations principally through its TCEH and Oncor subsidiaries. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. TCEH is a holding company for subsidiaries engaged in competitive electricity market activities largely in Texas, including electricity generation, wholesale energy sales and purchases, commodity risk management and trading activities, and retail electricity operations. TCEH is a wholly owned subsidiary of EFCH, which is a holding company and a wholly owned subsidiary of EFH Corp. Oncor is engaged in regulated electricity transmission and distribution operations in Texas. Oncor provides distribution services to REPs, including subsidiaries of TCEH, which sell electricity to residential, business and other consumers. Oncor Holdings, a holding company that holds an approximately 80% equity interest in Oncor, is a wholly owned subsidiary of EFIH, which is a holding company and a wholly owned subsidiary of EFH Corp.

Various ring-fencing measures have been taken to enhance the credit quality of Oncor. See Notes 1 and 3 to the Financial Statements for a discussion of the reporting of our investment in Oncor (and Oncor Holdings) as an equity method investment and a description of the ring-fencing measures implemented with respect to Oncor. These measures were put in place to mitigate Oncor's exposure to the Texas Holdings Group with the intent to minimize the risk that a court would order any of the assets and liabilities of the Oncor Ring-Fenced Entities to be substantively consolidated with those of any member of the Texas Holdings Group in the event any such member were to become a debtor in a bankruptcy case. Consistent with these ring-fencing measures, the assets and liabilities of the Oncor Ring-Fenced Entities have not been, and are not expected to be, substantively consolidated with the assets and liabilities of the Debtors in the Chapter 11 Cases.

Operating Segments

Our operations are aligned into two reportable business segments: Competitive Electric and Regulated Delivery. The Competitive Electric segment consists largely of TCEH. The Regulated Delivery segment consists largely of our investment in Oncor.

See Note 16 to the Financial Statements for further information regarding reportable business segments.

Significant Activities and Events and Items Influencing Future Performance

Filing under Chapter 11 of the United States Bankruptcy Code — On April 29, 2014 (the Petition Date), EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities, (the Debtors) filed voluntary petitions for relief (the Bankruptcy Filing) under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court). During the pendency of the Bankruptcy Filing (the Chapter 11 Cases), the Debtors will operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.

For additional discussion of the Bankruptcy Filing and its effects, see Note 2 to the Financial Statements.

Proposed Plan of Reorganization and Confirmation Hearing — In September 2015, the Debtors filed the Plan of Reorganization and Disclosure Statement with the Bankruptcy Court. In October 2015, the Debtors filed the Plan Supplement. In August 2015, the Bankruptcy Court issued an order establishing November 3, 2015 as the date for the commencement of the hearing to confirm the Plan of Reorganization (the Confirmation Hearing Commencement Date).For additional discussion see Note 2 to the Financial Statements.

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Extension of TCEH DIP Facility and TCEH Cash Collateral Order — In October 2015, the TCEH Debtors paid an $8 million extension fee and extended the maturity date of the TCEH DIP Facility to the earlier of (a) November 2016 or (b) the effective date of any reorganization plan of TCEH. The terms of the facility were otherwise unchanged by the extension. In September 2015, the TCEH Debtors extended their use of cash collateral to the earlier of (a) the effective date of a plan of reorganization or (b) 60 days following termination of the Debtors' Plan Support Agreement, provided that the TCEH Debtors do not otherwise cause an event of default under the cash collateral order. See Note 9 to the Financial Statements for discussion of the DIP Facilities.

Repayment of EFIH Second Lien Notes —In March 2015, with the approval of the Bankruptcy Court, EFIH used some of its cash to repay (Repayment) $735 million, including interest at contractual rates, in amounts outstanding under EFIH's pre-petition 11.00% Fixed Senior Secured Second Lien Notes due October 1, 2021 (11.00% Notes) and 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 (11.75% Notes) and $15 million in certain fees and expenses of the trustee for such notes. The Repayment resulted in an $84 million reduction in the principal amount of the 11.00% Notes, a $361 million reduction in the principal amount of the 11.75% Notes and the payment of $235 million and $55 million of accrued and unpaid post-petition and pre-petition interest, respectively, at contractual rates. The Repayment required the requisite consent of the lenders under EFIH's DIP Facility. EFIH received such consent from approximately 97% of the lenders under the EFIH DIP Facility and paid an aggregate consent fee equal to approximately $13 million. As a result of the Repayment, as of the date hereof, the principal amount outstanding on the 11.00% Notes and 11.75% Notes are $322 million and $1.389 billion, respectively.

Overall Hedged Generation Position — Taking together forward wholesale and retail electricity sales with all hedging positions, at September 30, 2015 we had effectively hedged an estimated 100% and 91%, respectively, of the price exposure, on a natural gas equivalent basis, related to our expected generation output for the remainder of 2015 and 2016 (assuming an 8.5 market heat rate), as compared to 79% and 17%, respectively, at December 31, 2014. The majority of our third-party hedges are financial natural gas positions.

Commodity Price Sensitivities — The following sensitivity table provides estimates of the potential impact (in $ millions) of movements in natural gas prices and market heat rates on realized pretax earnings for the periods presented. The estimates related to price sensitivity are based on our unhedged position and forward prices at September 30, 2015, which for natural gas reflects estimates of electricity generation less amounts under existing wholesale and retail sales contracts and amounts related to hedging positions. On a rolling basis, generally twelve-months, the substantial majority of retail sales under month-to-month arrangements are deemed to be under contract.

	Balance 2015	2016
$1.00/MMBtu change in natural gas price (a)(b)	$ —	$ ~45
0.1/MMBtu/MWh change in market heat rate (c)	$ —	$ ~6

___________

(a) Balance of 2015 is from November 1, 2015 through December 31, 2015.

(b) Assumes conversion of electricity positions based on an approximate 8.5 market heat rate with natural gas generally being on the margin 70% to 90% of the time in the ERCOT market (i.e., when coal is forecast to be on the margin, no natural gas position is assumed to be generated). Excludes the impact of economic backdown.

(c) Based on Houston Ship Channel natural gas prices at September 30, 2015.

Impairment of Goodwill — In the nine months ended September 30, 2015 and the years ended 2014, 2013 and 2012, we recorded $1.4 billion, $1.6 billion, $1.0 billion and $1.2 billion, respectively, in noncash goodwill impairment charges (which were not deductible for income tax purposes) related to the Competitive Electric segment. The write-offs reflected the effect of lower wholesale electricity prices in ERCOT, driven by the sustained decline in natural gas prices. Recorded goodwill related to the Competitive Electric segment totaled $952 million at September 30, 2015. See Note 4 to the Financial Statements for a description of the methods and key inputs and assumptions used by management to determine implied fair value of goodwill, the degree of uncertainty associated with those key inputs and assumptions, and the changes in circumstances that reasonably could be expected to affect the key inputs and assumptions.

The noncash impairment charges did not cause EFH Corp. or its subsidiaries to be in default under any of their respective debt covenants or have a material impact on liquidity.

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Impairment of Long-Lived Assets — EFH Corp. records impairment losses on long-lived assets used in our operations when events and circumstances indicate the long-lived assets might be impaired and the undiscounted cash flows generated by those assets are less than the carrying amounts of the assets. During 2014, the decrease in forecasted wholesale electricity prices in ERCOT, potential effects from environmental regulations and changes to our operating plans led to recording $4.670 billion in noncash impairment charges substantially all related to our Martin Lake, Monticello and Sandow 5 generation facilities. During the three months ended March 31, 2015, continued decreases in forecasted wholesale electricity prices in ERCOT resulted in a $676 million noncash impairment charge recorded related to our Big Brown generation facility. During the three months ended September 30, 2015, further decreases in forecasted wholesale electricity prices in ERCOT resulted in a $1.295 billion noncash impairment charge recorded related to our Martin Lake, Sandow 4 and Sandow 5 generation facilities. Additional material impairments related to these or other of our generation facilities may occur in the future if forward wholesale electricity prices in ERCOT continue to decline or if the forecasted costs of producing electricity at our generation facilities increase. See Note 6 to the Financial Statements for further discussion of impairment of long-lived assets.

Seasonal Suspension of Certain Generation Operations — In July 2015, we filed notice with ERCOT that we intend to seasonally suspend operations at a second of the three units at our Martin Lake generation facility. We decided to take this action due to low wholesale electricity prices and other market conditions impacting these facilities. While the units are under seasonal suspension they will generally only run in the summer months, but after notification to ERCOT we can run them in other months. We will continue to monitor wholesale electricity prices and market conditions in determining whether to continue seasonal operations and/or return the units to service prior to peak demand months. Accordingly, in September 2015, we filed notice with ERCOT that in October 2015 we intend to return the two units at our Monticello generation facility that had previously been under seasonal operations to normal operations.

Environmental Matters — See Note 11 to Financial Statements for a discussion of the CSAPR, greenhouse gas emissions and other EPA actions as well as related litigation.

Mercury and Air Toxics Standard (MATS) — In December 2011, the EPA finalized the MATS rule, which regulates the emissions of mercury, nonmercury metals, hazardous organic compounds and acid gases. Any additional control equipment retrofits on our lignite/coal fueled generation units required to comply with the MATS rule as finalized would need to be installed within three years from the April 2012 effective date of the rule unless a one-year extension is granted. The TCEQ has granted one-year MATS compliance extensions for our Big Brown, Martin Lake, Monticello and Sandow 4 generation facilities.

In July 2014, certain parties petitioned the US Supreme Court to review the MATS rule. In November 2014, the US Supreme Court granted review of the MATS case on the question of whether the EPA unreasonably refused to consider costs in determining whether it is appropriate to regulate hazardous air pollutants emitted by electric utilities. In June 2015, the US Supreme Court reversed and remanded the MATS rule back to the D.C. Circuit Court for further consideration. The US Supreme Court held that the EPA must consider cost, including cost of compliance, before deciding whether regulation is appropriate and necessary. The MATS rule remains in effect, and generation units must continue to comply pending further action from the D.C. Circuit Court. In September 2015, certain states and industry petitioners, including a subsidiary of TCEH, filed a motion in the D.C. Circuit Court requesting that the court vacate the MATS rule. While we cannot predict the outcome of future proceedings related to the MATS rule, we do not expect the MATS rule will have any material impact on our results of operations, liquidity or financial condition.

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Regional Haze — The Regional Haze Program of the Clean Air Act (CAA) establishes "as a national goal the prevention of any future, and the remedying of any existing, impairment of visibility in mandatory Class I federal areas, like national parks, which impairment results from man-made pollution." There are two components to the Regional Haze Program. First, states must establish goals for reasonable progress for Class I federal areas within the state and establish long-term strategies to reach those goals and to assist Class I federal areas in neighboring states to achieve reasonable progress set by those states towards a goal of natural visibility by 2064. Second, electricity generation units built between 1962 and 1977 are subject to best available retrofit technology (BART) standards designed to improve visibility. BART reductions of SO₂ and NO_X are required either on a unit-by-unit basis or are deemed satisfied by state participation in an EPA-approved regional trading program such as the CAIR or the CSAPR. In February 2009, the TCEQ submitted a State Implementation Plan (SIP) concerning regional haze (Regional Haze SIP) to the EPA. In December 2011, the EPA proposed a limited disapproval of the Regional Haze SIP due to its reliance on the CAIR instead of the EPA's replacement CSAPR program. In August 2012, we filed a petition for review in the US Court of Appeals for the Fifth Circuit (Fifth Circuit Court) challenging the EPA's limited disapproval of the Regional Haze SIP on the grounds that the CAIR continued in effect pending the D.C. Circuit Court's decision in the CSAPR litigation. In September 2012, we filed a petition to intervene in a case filed by industry groups and other states and private parties in the D.C. Circuit Court challenging the EPA's limited disapproval and issuance of FIP regarding the regional haze BART program. The Fifth Circuit Court case has since been transferred to the D.C. Circuit Court and consolidated with other pending BART program regional haze appeals. The consolidated cases now in the D.C. Circuit Court are currently stayed. Following the US Supreme Court's ruling in the CSAPR litigation, the case remains stayed in the D.C. Circuit Court. In September 2015, the EPA filed an unopposed motion to continue to hold the case in abeyance.

In response to a lawsuit by environmental groups, the D.C. Circuit Court issued a consent decree in March 2012 that required the EPA to propose a decision on the Regional Haze SIP by May 2012 and finalize that decision by November 2012. The consent decree requires a FIP for any provisions that the EPA disapproves. The D.C. Circuit Court has amended the consent decree several times to extend the dates for the EPA to propose and finalize a decision on the Regional Haze SIP. The EPA proposed its rule in November 2014 and is currently scheduled to finalize the rule in December 2015.

In June 2014, the EPA issued requests for information under Section 114 of the CAA to Luminant and other generators in Texas. In November 2014, the EPA released a proposed rule approving in part and disapproving in part Texas' SIP for Regional Haze and proposing a FIP for Regional Haze. In the proposed rule, the EPA asserts that the Texas SIP does not show reasonable progress in improving visibility for two areas in Texas and that its long-term strategy fails to make emission reductions needed to achieve reasonable progress in improving visibility in the Wichita Mountains of Oklahoma. Consistent with how the EPA has applied Regional Haze rules to other states, the EPA's final rule confirms that Texas's compliance with the CSAPR will satisfy its obligations under the BART portion of the Regional Haze Program. However, the EPA's proposed FIP for Texas goes beyond the requirements of the CSAPR and sets emission limits on a unit-by-unit basis for 15 electricity generation units in Texas. The EPA's proposed emission limits assume additional control equipment for specific coal fueled generation units across Texas,including new flue gas desulfurization systems (scrubbers) at seven generation units and upgrades to existing scrubbers at seven generation units. Specifically for Luminant, the EPA's emission limitations are based on new scrubbers at Big Brown Units 1 and 2 and Monticello Units 1 and 2 and scrubber upgrades at Martin Lake Units 1, 2 and 3, Monticello Unit 3 and Sandow Unit 4. Luminant is continuing to evaluate the requirements and potential financial and operational impacts of the proposed rule, but new scrubbers at the Big Brown and Monticello units necessary to achieve the emission limits required by the proposed FIP (if those limits are even possible to attain) would likely challenge the long-term viability of those units. Luminant, the State of Texas, and many others filed comments on the EPA's proposal in April 2015, and the rule is expected to be finalized in December 2015. As discussed in detail in these comments, we and others believe this proposed rule is unlawful and must be withdrawn. As proposed, the scrubber upgrades would be required three years after the rule is finalized, and the new scrubbers would be required five years after the rule is finalized. Assuming the proposed rule is finalized in December2015, compliance would be required beginning in December 2018 and December 2020, respectively. While we cannot predict the outcome of the final rule, the result may have a material impact on our results of operations, liquidity or financial condition.

National Ambient Air Quality Standard for Ozone — In October 2015, the EPA finalized a new eight-hour standard for ozone of 70 million parts per billion (ppb), lowering it from the existing 75 million ppb. In October 2017, the EPA will designate non-attainment areas for the standard, and states will then have three years to develop an implementation plan for meeting the standard. Based on current levels, the Dallas/Fort Worth area is not meeting the standard; however, monitors in East (Tyler-Longview-Marshall) and Central (Waco) Texas, which are closer to our generation units, are measuring levels below the standard. If our generation units are implicated in ozone exceedances, the state may pursue additional nitrogen oxide controls to reduce ozone concentrations. While we are not a party to the lawsuit, the EPA ozone standard is being challenged in a proceeding in the D.C. Circuit Court. We cannot predict the outcome of the state ozone attainment implementation planning process or the impact that the standard may have on our results of operations, liquidity or financial condition.

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Steam Electric Effluent Limitation Guidelines — In September 2015, the EPA finalized a rule targeted at coal-fueled generation units, specifically to the coal combustion residual related wastestreams and practices. It was developed with consideration of the final Disposal of Coal Combustion Residuals for Electric Utilities rule published in April 2015 (see Note 17). The guidelines establish new, stringent numeric limits for arsenic, mercury, selenium and nitrate-nitrites in flue gas desulfurization wastestreams. The rule also establishes "zero discharge" restrictions on some wastestreams, with very few exceptions. Based on our existing practices related to wastewater discharges, we do not believe that these guidelines will cause any material operational, financial or compliance issues.

Stream Protection Rule — In July 2015, the Office of Surface Mining (OSM) proposed a Stream Protection Rule that represents significant changes to surface mining regulations under the Surface Mining Control and Reclamation Act (SMCRA) program. The rule proposes to prevent or minimize impacts to surface water and groundwater from coal mining. In October 2015, we filed comments on the proposed rule. While we cannot predict the outcome of this rulemaking on our results of operations, liquidity or financial condition, the impacts could be material.

Recent PUCT/ERCOT Actions — In the ERCOT market, a generation entity may submit a voluntary mitigation plan to the PUCT for ensuring compliance with the PUCT rules related to abuse of market power through economic withholding. In May 2015 the PUCT approved a voluntary mitigation plan submitted by Luminant. The plan specifies offering practices that Luminant could use when offering its generation into the ERCOT day-ahead and real-time markets. Adherence to the plan provides Luminant with an absolute defense against allegations of abuse of market power through economic withholding with respect to the specific behaviors addressed by the plan.

Oncor Matters with the PUCT —Change in Control Review (PUCT Docket No. 45188) — In connection with the EFH Acquisition contemplated by the Plan of Reorganization, in September 2015 Oncor and the Purchasers in the proposed EFH Acquisition filed a joint report and application for regulatory approvals pursuant to the Texas Public Utility Regulation Act. See Note 2 for further discussion regarding the EFH Acquisition and the Plan of Reorganization.

2008 Rate Review Filing (PUCT Docket No. 35717) — In August 2009, the PUCT issued a final order with respect to Oncor's June 2008 rate review filing with the PUCT and 204 cities based on a test year ended December 31, 2007, and new rates were implemented in September 2009. Oncor and four other parties appealed various portions of the rate review final order to a state district court. In January 2011, the district court signed its judgment reversing the PUCT with respect to two issues: the PUCT's disallowance of certain franchise fees and the PUCT's decision that the Texas Public Utility Regulatory Act no longer requires imposition of a rate discount for state colleges and universities. Oncor filed an appeal with the Texas Third Court of Appeals (Austin Court of Appeals) in February 2011 with respect to the issues it appealed to the district court and did not prevail upon, as well as the district court's decision to reverse the PUCT with respect to discounts for state colleges and universities. In August 2014, the Austin Court of Appeals reversed the district court and affirmed the PUCT with respect to the PUCT's disallowance of certain franchise fees and the PUCT's decision that PURA no longer requires imposition of a rate discount for state colleges and universities. The Austin Court of Appeals also reversed the PUCT and district court's rejection of a proposed consolidated tax savings adjustment arising out of EFH Corp.'s ability to offset Oncor's taxable income against losses from other investments and remanded the issue to the PUCT to determine the amount of the consolidated tax savings adjustment. Oncor filed a motion on rehearing with the Austin Court of Appeals with respect to certain appeal issues on which Oncor was not successful, including the consolidated tax savings adjustment. In December 2014, the Austin Court of Appeals issued its opinion, clarifying that it was rendering judgment on the rate discount for state colleges and universities issue (affirming that PURA no longer requires imposition of the rate discount) rather than remanding it to the PUCT, and dismissing the motions for rehearing regarding the franchise fee issue and the consolidated tax savings adjustment. Oncor filed a petition for review with the Texas Supreme Court in February 2015. At the request of the court the parties filed responses to the petitions for review and replies in June and July 2015, respectively. The Texas Supreme Court subsequently requested full briefing on the merits, with the briefing period ending on December 9, 2015. There is no deadline for the court to act. If Oncor's appeals efforts are unsuccessful and the proposed consolidated tax savings adjustment is implemented, Oncor estimates that on remand the impact on earnings of the consolidated tax savings adjustment's value could range from zero, as originally determined by the PUCT in Docket No. 35717, to an approximate $130 million loss (after-tax). Oncor does not believe that any of the other issues ruled upon by the Austin Court of Appeals would result in a material impact to its results of operations or financial condition.

58

Transmission Cost Recovery and Rates(PUCT Docket Nos. 44771 and 43858)—In order to reflect increases or decreases in its wholesale transmission costs, including fees it pays to other transmission service providers, PUCT rules allow Oncor to update the transmission cost recovery factor (TCRF) component of its retail delivery rates charged to REPs on March 1 and September 1 each year. In May 2015, Oncor filed an application to update the TCRF, which became effective September 1, 2015. This application was designed to increase Oncor's billings for the period from September 2015 through February 2016 by $47 million. In December 2014, Oncor filed an application to update the TCRF, which became effective March 1, 2015. This application was designed to reduce Oncor's billings for the period from March 2015 through August 2015 by $27 million.

Transmission Interim Rate Update Applications(PUCT Docket Nos. 44968 and 44363)—In order to reflect changes in its invested transmission capital, PUCT rules allow Oncor to update its transmission cost of service (TCOS) rates by filing up to two interim TCOS rate adjustments in a calendar year. TCOS revenues are collected from load serving entities benefiting from Oncor's transmission system. REPs serving customers in Oncor's service territory are billed through the TCRF mechanism discussed above while other load serving entities are billed directly. In July 2015, Oncor filed an application for an interim update of its TCOS rate. The new rate was approved by the PUCT and became effective in September 2015. Oncor's expected annualized revenues increased by an estimated $21 million with approximately $14 million of this increase recoverable through transmission costs charged to wholesale customers and $7 million recoverable from REPs through the TCRF component of Oncor's delivery rates. In January 2015, Oncor filed an application for an interim update of its TCOS rate. The new rate was approved by the PUCT and became effective in March 2015. Oncor's expected annualized revenues increased by an estimated $35 million with approximately $23 million of this increase recoverable through transmission costs charged to wholesale customers and $12 million recoverable from REPs through the TCRF component of Oncor's delivery rates.

Application for 2016 Energy Efficiency Cost Recovery Factor Surcharge(PUCT Docket No. 44784) — In June 2015, Oncor filed an application with the PUCT to request approval of the energy efficiency cost recovery factor (EECRF) for 2016. PUCT rules require Oncor to make an annual EECRF filing by the first business day in June in each year for implementation on March 1 of the next calendar year. The requested 2016 EECRF was $67 million as compared to $68 million established for 2015, and would result in an average monthly charge for residential customers of $1.19 as compared to the 2015 average monthly residential charge of $1.23 per month. Average monthly charges are for a residential customer using 1,200 kilowatt-hours. In September 2015, the PUCT issued a final order approving the 2016 EECRF, which is designed to recover $61 million of Oncor's costs for the 2016 program year, a $10 million performance bonus based on Oncor's 2014 results and a $4 million decrease for over-recovery of 2014 costs.

59

RESULTS OF OPERATIONS

Consolidated Financial Results — Three Months Ended September 30, 2015 Compared to Three Months Ended September 30, 2014

See Competitive Electric Segment – Financial Results below for a discussion of variances in: operating revenues; fuel, purchased power costs and delivery fees; net gain (loss) from commodity hedging and trading activities; operating costs; depreciation and amortization and SG&A expenses.

In 2015, a noncash impairment of goodwill totaling $700 million was recorded in the Competitive Electric segment as discussed in Note 4 to the Financial Statements.

In 2015 and 2014, noncash impairments of certain long-lived assets totaling $1.295 billion and $9 million, respectively, were recorded in the Competitive Electric segment as discussed in Note 6 to the Financial Statements.

See Note 17 to the Financial Statements for details of other income and deductions.

Interest expense and related charges increased $1 million to $383 million in 2015 reflecting slightly higher interest rates for adequate protection payments approved by the Bankruptcy Court for the benefit of TCEH secured creditors.

See Note 7 to the Financial Statements for details of interest expense and related charges.

Reorganization items totaled $68 million and $55 million in 2015 and 2014, respectively. Activity in 2015 reflected higher expense related to legal advisory and representation services incurred in our Chapter 11 Cases. See Note 8 to the Financial Statements for additional discussion.

Income tax benefit totaled $452 million and $72 million in 2015 and 2014, respectively. Excluding the nondeductible goodwill impairment charge in 2015 and the $39 million income tax benefit recorded in 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year (see Note 5 to the Financial Statements), the effective tax rate was 33.8% and 22.6% in 2015 and 2014, respectively. See Note 5 to the Financial Statements for reconciliation of these comparable effective rates to the US federal statutory rate.

Results for EFH Corp. decreased $1.509 billion to a net loss of $1.460 billion in 2015.

• Net loss for the Competitive Electric segment increased $1.480 billion to $1.517 billion.

• Results in the Regulated Delivery segment increased $4 million to $127 million.

• After-tax net expenses from Corporate and Other activities totaled $70 million and $37 million in 2015 and 2014, respectively. The change primarily reflects an increase in the Corporate and Other portion of reorganization items discussed above of $13 million ($20 million pre-tax).

Consolidated Financial Results —Nine Months Ended September 30, 2015 Compared to Nine Months Ended September 30, 2014

See Competitive Electric Segment – Financial Results below for a discussion of variances in: operating revenues; fuel, purchased power costs and delivery fees; net gain (loss) from commodity hedging and trading activities; operating costs; depreciation and amortization and SG&A expenses.

In 2015, noncash impairments of goodwill totaling $1.4 billion were recorded in the Competitive Electric segment as discussed in Note 4 to the Financial Statements.

In 2015 and 2014, noncash impairments of certain long-lived assets totaling $1.971 billion and $30 million, respectively, were recorded in the Competitive Electric segment as discussed in Note 6 to the Financial Statements.

See Note 17 to the Financial Statements for details of other income and deductions.

60

Results in 2014 include fees for legal and other professional services associated with our debt restructuring activities prior to the Petition Date, which totaled $49 million and are reported in SG&A expenses. Of this amount, $28 million is included in the Competitive Electric segment results and $21 million is included in Corporate and Other activities. Legal and other professional services costs incurred with the Chapter 11 Cases since the Petition Date are now being reported in reorganization items as discussed below.

Interest expense and related charges decreased $441 million to $1.375 billion in 2015. The decrease reflected:

• $974 million in lower interest expense on pre-petition debt due to the discontinuance of interest due to the Chapter 11 Cases, and

• $67 million in lower amortization of pre-petition debt issuance, amendment and extension costs and discounts due to reclassification of such amounts to liabilities subject to compromise in 2014,

partially offset by

• $400 million in higher expense related to adequate protection payments approved by the Bankruptcy Court for the benefit of TCEH secured creditors in the nine months ended September 30, 2015 as compared to the post-petition period ended September 30, 2014;

• $133 million in higher interest expense on debtor-in-possession financing in the nine months ended September 30, 2015 as compared to the post-petition period ended September 30, 2014, and

• $66 million in mark-to-market net gains on interest rate swaps in 2014.

See Note 7 to the Financial Statements for details of interest expense and related charges.

Reorganization items totaled $275 million and $720 million in the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014, respectively. Activity in 2015 included $148 million in legal advisory and representation services, $69 million in other professional consulting and advisory services, $26 million related to contract claim adjustments and $28 million in fees associated with the repayment of EFIH Second Lien Notes in March 2015. Activity in 2014 included a $278 million liability adjustment arising from termination of interest rate swap agreements and natural gas hedging positions (see Note 14 to Financial Statements), $180 million in fees associated with completion of the TCEH and EFIH DIP facilities (see Note 9 to Financial Statements), a $108 million net loss on exchange and settlement of the EFIH First Lien Notes, $79 million in legal advisory and representation services and $72 million in other professional consulting and advisory services. See Note 8 to the Financial Statements for additional discussion.

Income tax benefit totaled $990 million and $830 million in 2015 and 2014, respectively. Excluding the nondeductible goodwill impairment charges in 2015 and the $39 million income tax benefit recorded in 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year (see Note 5 to the Financial Statements), the effective tax rate was 32.3% and 32.4% in 2015 and 2014, respectively. See Note 5 to the Financial Statements for reconciliation of these comparable effective rates to the US federal statutory rate.

Net loss for EFH Corp. increased $1.865 billion to $3.199 billion in 2015.

• Net loss for the Competitive Electric segment increased $1.873 billion to $3.068 billion.

• Earnings from the Regulated Delivery segment increased $2 million to $278 million.

• After-tax net expenses from Corporate and Other activities totaled $409 million and $415 million in 2015 and 2014, respectively. The change primarily reflects a decrease in Corporate and Other portion of reorganization items discussed above.

61

Competitive Electric Segment

Financial Results

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues	$	1,737		$	1,807		$	4,265		$	4,731
Fuel, purchased power costs and delivery fees	(831		)	(868		)	(2,090		)	(2,256		)
Net gain (loss) from commodity hedging and trading activities	103			75			226			(118		)
Operating costs	(189		)	(204		)	(598		)	(660		)
Depreciation and amortization	(200		)	(327		)	(634		)	(983		)
Selling, general and administrative expenses	(174		)	(163		)	(495		)	(527		)
Impairment of goodwill	(700		)	—			(1,400		)	—
Impairment of long-lived assets	(1,295		)	(9		)	(1,971		)	(30		)
Other income	4			5			15			11
Other deductions	(25		)	(6		)	(87		)	(9		)
Interest income	—			—			1			—
Interest expense and related charges	(325		)	(323		)	(964		)	(1,475		)
Reorganization items	(39		)	(45		)	(152		)	(468		)
Loss before income taxes	(1,934		)	(58		)	(3,884		)	(1,784		)
Income tax benefit	417			21			816			589
Net loss	$	(1,517	)	$	(37	)	$	(3,068	)	$	(1,195	)

62

Competitive Electric Segment

Sales Volume and Customer Count Data

	Three Months Ended September 30,				% Change		Nine Months Ended September 30,				% Change
	2015		2014				2015		2014
Sales volumes:
Retail electricity sales volumes – (GWh):
Residential	7,569		7,087		6.8	%	17,667		17,331		1.9	%
Small business (a)(b)	1,669		1,651		1.1	%	4,054		4,093		(1.0	)%
Large business and other customers (b)	3,965		3,161		25.4	%	10,742		8,301		29.4	%
Total retail electricity	13,203		11,899		11.0	%	32,463		29,725		9.2	%
Wholesale electricity sales volumes (c)	6,901		10,273		(32.8	)%	17,526		27,276		(35.7	)%
Total sales volumes	20,104		22,172		(9.3	)%	49,989		57,001		(12.3	)%
Average volume (kilowatt-hours) per residential customer (d)	5,067		4,703		7.7	%	11,807		11,483		2.8	%
Weather (North Texas average) – percent of normal (e):
Cooling degree days	111.8	%	99.7	%	12.1	%	102.8	%	99.4	%	3.4	%
Heating degree days	—	%	—	%	—	%	118.9	%	122.0	%	(2.5	)%
Customer counts:
Retail electricity customers (end of period, in thousands) (f):
Residential							1,493		1,502		(0.6	)%
Small business (a)(g)							166		169		(1.8	)%
Large business and other customers (g)							39		28		39.3	%
Total retail electricity customers							1,698		1,699		(0.1	)%

____________

(a) Customers with demand of less than 1 MW annually.

(b) Nine months ended September 30, 2015 and three and nine months ended September 30, 2014 volumes reflect a reclassification of 602 GWh, 170 GWh and 389 GWh, respectively, of retail electricity sales volumes from small business to large business and other customers to conform to current presentation.

(c) Includes net amounts related to sales and purchases of balancing energy in the ERCOT real-time market.

(d) Calculated using average number of customers for the period.

(e) Weather data is obtained from Weatherbank, Inc., an independent company that collects and archives weather data from reporting stations of the National Oceanic and Atmospheric Administration (a federal agency under the US Department of Commerce). Normal is defined as the average over the 10-year period from 2000 to 2010.

(f) Based on number of meters. Typically, large business and other customers have more than one meter; therefore, number of meters does not reflect the number of individual customers.

(g) Nine months ended September 30, 2014 count reflects a reclassification of eight thousand retail electricity customers from small business to large business and other customers to conform to current presentation.

63

Competitive Electric Segment

Revenue and Commodity Hedging and Trading Activities

	Three Months Ended September 30,				% Change		Nine Months Ended September 30,					% Change
	2015		2014				2015		2014
Operating revenues:
Retail electricity revenues:
Residential	$	997	$	960	3.9	%	$	2,362	$	2,333		1.2	%
Small business (a)(b)	193		193		—	%	496		505			(1.8	)%
Large business and other customers (b)	245		216		13.4	%	681		581			17.2	%
Total retail electricity revenues	1,435		1,369		4.8	%	3,539		3,419			3.5	%
Wholesale electricity revenues (c)(d)	238		366		(35.0	)%	539		1,086			(50.4	)%
Amortization of intangibles (e)	6		6		—	%	18		18			—	%
Other operating revenues	58		66		(12.1	)%	169		208			(18.8	)%
Total operating revenues	$	1,737	$	1,807	(3.9	)%	$	4,265	$	4,731		(9.8	)%
Net gain (loss) from commodity hedging and trading activities:
Realized net gains	$	70	$	29			$	121	$	390
Unrealized net gains (losses)	33		46				105		(508		)
Total	$	103	$	75			$	226	$	(118	)

____________

(a) Customers with demand of less than 1 MW annually.

(b) Nine months ended September 30, 2015 and three and nine months ended September 30, 2014 amounts reflect a reclassification of $39, $12 and $29, respectively, of retail electricity revenues from small business to large business and other customers to conform to current presentation.

(c) Upon settlement of physical derivative commodity contracts that we mark-to-market in net income, such as certain electricity sales and purchase agreements and coal purchase contracts, wholesale electricity revenues and fuel and purchased power costs are reported at approximated market prices, as required by accounting rules, rather than contract price. The offsetting differences between contract and market prices are reported in net gain (loss) from commodity hedging and trading activities.

(d) Includes net amounts related to sales and purchases of balancing energy in the ERCOT real-time market.

(e) Represents amortization of the intangible net asset value of retail and wholesale electricity sales agreements resulting from purchase accounting.

64

Competitive Electric Segment

Production, Purchased Power and Delivery Cost Data

	Three Months Ended September 30,						% Change		Nine Months Ended September 30,						% Change
	2015			2014					2015			2014
Fuel, purchased power costs and delivery fees ($ millions):
Fuel for nuclear facilities	$	40		$	41		(2.4	)%	$	118		$	120		(1.7	)%
Fuel for lignite/coal facilities	236			278			(15.1	)%	560			663			(15.5	)%
Total nuclear and lignite/coal facilities	276			319			(13.5	)%	678			783			(13.4	)%
Fuel for natural gas facilities and purchased power costs (a)	77			90			(14.4	)%	199			249			(20.1	)%
Amortization of intangibles (b)	1			11			(90.9	)%	3			32			(90.6	)%
Other costs	48			50			(4.0	)%	125			175			(28.6	)%
Fuel and purchased power costs	402			470			(14.5	)%	1,005			1,239			(18.9	)%
Delivery fees	429			398			7.8	%	1,085			1,017			6.7	%
Total	$	831		$	868		(4.3	)%	$	2,090		$	2,256		(7.4	)%
Fuel and purchased power costs (which excludes generation facilities operating costs) per MWh:
Nuclear facilities	$	7.59		$	7.68		(1.2	)%	$	7.44		$	8.03		(7.3	)%
Lignite/coal facilities (c)	$	20.38		$	20.44		(0.3	)%	$	22.59		$	20.52		10.1	%
Natural gas facilities and purchased power (d)	$	43.16		$	51.34		(15.9	)%	$	45.98		$	50.43		(8.8	)%
Delivery fees per MWh	$	32.38		$	33.30		(2.8	)%	$	33.31		$	34.11		(2.3	)%
Production and purchased power volumes (GWh):
Nuclear facilities	5,309			5,322			(0.2	)%	15,830			14,893			6.3	%
Lignite/coal facilities (e)	13,727			15,806			(13.2	)%	31,784			39,060			(18.6	)%
Total nuclear and lignite/coal facilities	19,036			21,128			(9.9	)%	47,614			53,953			(11.7	)%
Natural gas facilities	548			390			40.5	%	689			725			(5.0	)%
Purchased power (f)	520			654			(20.5	)%	1,686			2,323			(27.4	)%
Total energy supply volumes	20,104			22,172			(9.3	)%	49,989			57,001			(12.3	)%
Capacity factors:
Nuclear facilities	104.5		%	104.8		%	(0.3	)%	105.1		%	98.8		%	6.4	%
Lignite/coal facilities (e)	77.5		%	89.3		%	(13.2	)%	60.5		%	74.4		%	(18.7	)%
Total	83.6		%	92.7		%	(9.8	)%	70.4		%	79.8		%	(11.8	)%

____________

(a) See note (b) to the Revenue and Commodity Hedging and Trading Activities table on previous page.

(b) Represents amortization of the intangible net asset values of emission credits, coal purchase contracts, nuclear fuel contracts and power purchase agreements and the stepped up value of nuclear fuel resulting from purchase accounting.

(c) Includes depreciation and amortization of lignite mining assets, which is reported in the depreciation and amortization expense line item, but is part of overall fuel costs and excludes unrealized amounts as discussed in footnote (c) to the Revenue and Commodity Hedging and Trading Activities table on the previous page.

(d) Excludes volumes related to line loss and power imbalances and unrealized amounts referenced in footnote (c) immediately above.

(e) Includes the estimated effects of economic backdown (including seasonal operations) of lignite/coal fueled units totaling 3,210 GWh and 1,330 GWh for the three months ended September 30, 2015 and 2014, respectively, and 15,300 GWh and 9,610 GWh for the nine months ended September 30, 2015 and 2014, respectively.

(f) Includes amounts related to line loss and power imbalances.

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Competitive Electric Segment — Financial Results — Three Months Ended September 30, 2015 Compared to Three Months Ended September 30, 2014

Operating revenues decreased $70 million, or 4%, to $1.737 billion in 2015.

Retail electricity revenues increased $66 million, or 5%, to $1.435 billion in 2015 primarily reflecting a $150 million increase due to volumes, partially offset by an $84 million decrease due to lower average prices. Retail sales volumes increased 11% reflecting increased sales in business markets and increased residential sales driven by weather. Overall average pricing decreased by 5% driven by lower average prices in both residential and business markets.

Wholesale electricity revenues decreased $128 million, or 35%, to $238 million in 2015 reflecting a $120 million decrease in sales volumes and an $8 million decrease due to lower average wholesale electricity prices. A 33% decrease in wholesale electricity sales volumes was driven by lower generation volumes that resulted from increased economic backdown and reserve shutdown at our lignite/coal generation facilities. The increased economic backdown and the lower average wholesale electricity sales prices were driven by an 18% decline in average wholesale electricity prices in the three months ended September 30, 2015, which was impacted by lower natural gas prices during the period compared to natural gas prices in 2014.

Fuel, purchased power costs and delivery fees decreased $37 million, or 4%, to $831 million in 2015. Fuel for lignite/coal facilities decreased $42 million reflecting a 13% decrease in lignite/coal generation volumes and lower western coal prices. Fuel for natural gas facilities and purchased power costs decreased $13 million primarily reflecting a 21% decrease in purchased power volumes. Amortization of intangibles decreased $10 million reflecting decreased amortization of favorable purchase contracts due to impairments recorded at the end of 2014. Delivery fees increased $31 million reflecting higher retail volumes, partially offset by lower delivery rates.

Following is an analysis of amounts reported as net gain (loss) from commodity hedging and trading activities, which totaled $103 million and $75 million in net gains for the three months ended September 30, 2015 and 2014, respectively, and included the natural gas hedging positions as well as other hedging positions.

	Three Months Ended September 30, 2015
	Net Realized Gains		Net Unrealized Gains (Losses)			Total
Hedging positions	$	63	$	35		$	98
Trading positions	7		(2		)	5
Total	$	70	$	33		$	103

	Three Months Ended September 30, 2014
	Net Realized Gains (Losses)			Net Unrealized Gains		Total
Hedging positions	$	31		$	42	$	73
Trading positions	(2		)	4		2
Total	$	29		$	46	$	75

Net realized gains on hedging and trading positions increased $41 million, reflecting higher gains in 2015 due to a change in prices, primarily related to natural gas positions.

The $13 million decrease in net unrealized gains reflected a larger reversal of previously recorded unrealized gains in 2015 due to a change in prices, partially offset by an increase in unrealized gains recorded in 2015 due to a change in prices and a larger hedge position.

Operating costs decreased $15 million, or 7%, to $189 million in 2015. The decrease was driven by $9 million in lower nuclear maintenance costs primarily reflecting the timing and scope of nuclear refueling outages and $5 million in lower maintenance costs at lignite/coal fueled generation facilities.

Depreciation and amortization expenses decreased $127 million, or 39%, to $200 million in 2015 primarily reflecting reduced depreciation expense resulting from the effect of noncash impairments of certain long-lived assets recorded at the end of 2014 and the first quarter of 2015.

66

SG&A expenses increased $11 million, or 7%, to $174 million in 2015 reflecting higher information system expenses related to system optimization.

In 2015, a noncash impairment of goodwill totaling $700 million was recorded as discussed in Note 4 to the Financial Statements.

In 2015 and 2014, noncash impairments of certain long-lived assets totaling $1.295 billion and $9 million, respectively, were recorded as discussed in Note 6 to the Financial Statements.

Other deductions totaled $25 million in 2015 and $6 million in 2014. Other deductions in 2015 included impairments of identifiable intangible assets totaling $24 million (see Note 4 to the Financial Statements).

Interest expense and related charges increased $2 million, or 1%, to $325 million in 2015 primarily due to slightly higher interest rates related to adequate protection payments approved by the Bankruptcy Court for the benefit of TCEH secured creditors.

Reorganization items totaled $39 million and $45 million in 2015 and 2014, respectively. Activity in 2015 was lower due to decreased legal advisory and representation services and other professional consulting and advisory services. See Note 8 to the Financial Statements for additional discussion.

Income tax benefit totaled $417 million and $21 million on pretax losses in 2015 and 2014, respectively. Excluding the nondeductible goodwill impairment charge in 2015 and the $15 million income tax benefit recorded in the third quarter of 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year (see Note 5 to the Financial Statements), the effective tax rate was 33.8% in 2015 and 10.3% in 2014. The increase in the effective income tax rate is driven by lower state tax expense due to a reduction in the Texas margin tax rate in 2015 and forecasted items that significantly impacted the rate in 2014 due to the relative size of the pretax loss as compared to 2015.

Net loss for the Competitive Electric segment increased $1.480 billion to a net loss of $1.517 billion in 2015. The increase primarily reflected the noncash impairments of goodwill and certain long-lived assets, partially offset by lower depreciation and amortization expense.

Competitive Electric Segment — Financial Results —Nine Months Ended September 30, 2015 Compared to Nine Months Ended September 30, 2014

Operating revenues decreased $466 million, or 10%, to $4.265 billion in 2015.

Retail electricity revenues increased $120 million, or 4%, to $3.539 billion in 2015 reflecting a $315 million increase due to volumes, partially offset by a $195 million decrease due to lower average prices. The 9% increase in retail sales volumes primarily reflected net increases in business sales volumes. Lower average retail prices reflected a decrease in average prices for business markets customers.

Wholesale electricity revenues decreased $547 million, or 50%, to $539 million in 2015 reflecting a $388 million decrease in sales volumes and a $159 million decrease due to lower average wholesale electricity prices. A 36% decrease in wholesale sales volumes was driven by lower generation volumes that resulted from increased economic backdown (including seasonal operations) at our lignite/coal generation facilities. The increased economic backdown at our generation facilities and the lower average wholesale electricity sales prices were driven by a 34% decline in average wholesale electricity prices in the nine months ended September 2015, which was impacted by lower natural gas prices during the period compared to natural gas prices in 2014.

Fuel, purchased power costs and delivery fees decreased $166 million, or 7%, to $2.090 billion in 2015. Fuel for lignite/coal facilities decreased $103 million reflecting lower generation volumes, partially offset by higher lignite mining costs and more western coal in the fuel blend. Fuel for natural gas facilities and purchased power costs decreased $50 million reflecting a 27% decrease in purchased power volumes and lower natural gas prices and generation for natural gas generation units. Amortization of intangibles decreased $29 million reflecting decreased amortization of favorable purchase contracts due to impairments recorded at the end of 2014. Other costs decreased $50 million reflecting a $36 million decrease in natural gas purchases for resale and a $14 million decrease in ERCOT ancillary service fees, both driven by lower natural gas prices in 2015. Delivery fees increased $68 million reflecting higher retail volumes, partially offset by lower delivery rates.

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Following is an analysis of amounts reported as net gain (loss) from commodity hedging and trading activities, which totaled $226 million in net gains and $118 million in net losses for the nine months ended September 30, 2015 and 2014, respectively, and included the natural gas hedging positions as well as other hedging positions.

	Nine Months Ended September 30, 2015
	Net Realized Gains		Net Unrealized Gains (Losses)			Total
Hedging positions	$	113	$	106		$	219
Trading positions	8		(1		)	7
Total	$	121	$	105		$	226

	Nine Months Ended September 30, 2014
	Net Realized Gains (Losses)			Net Unrealized Gains (Losses)			Total
Hedging positions	$	399		$	(518	)	$	(119	)
Trading positions	(9		)	10			1
Total	$	390		$	(508	)	$	(118	)

Net realized gains on hedging and trading positions decreased by $269 million reflecting lower gains due to the termination of our favorable natural gas hedging program, partially offset by other realized gains from declining market prices in 2015. The impact of the natural gas hedging program includes accelerated realized gains resulting from the 2014 natural gas hedge program termination (offsetting the reversal of previously recognized unrealized gains as noted below), as well as realized gains from the more favorable hedge pricing in 2014.

The $613 million change in unrealized gains (losses) compared to the prior year reflected the impact of our natural gas hedging program, partially offset by other unrealized losses. The impact of the natural gas hedging program included an acceleration of the reversal of previously recognized unrealized gains resulting from the 2014 termination (offsetting the realized gains as noted above), as well as the reversal of previously recorded unrealized gains from the program pricing. The other unrealized losses were driven by decreasing market prices, which resulted in the reversal of previously recognized unrealized gains.

Operating costs decreased $62 million, or 9%, to $598 million in 2015. The decrease was driven by $54 million in lower nuclear maintenance costs reflecting a spring refueling outage in 2014 as well as lower lignite/coal facilities operating costs reflecting lower generation.

Depreciation and amortization expenses decreased $349 million, or 36%, to $634 million in 2015 primarily reflecting reduced depreciation expense resulting from the effect of noncash impairments of certain long-lived assets recorded at the end of 2014 and the first quarter of 2015.

SG&A expenses decreased $32 million, or 6%, to $495 million in 2015 primarily reflecting $26 million in legal and other professional services costs associated with our debt restructuring activities prior to the Petition Date being reported in SG&A in 2014, compared to legal and professional services costs associated with the Chapter 11 Cases since the Petition Date being reported in reorganization items as discussed below.

In 2015, noncash impairments of goodwill totaling $1.4 billion were recorded as discussed in Note 4 to the Financial Statements.

In 2015 and 2014, noncash impairments of certain long-lived assets totaling $1.971 billion and $30 million, respectively, were recorded as discussed in Note 6 to the Financial Statements.

Other deductions totaled $87 million in 2015 and $9 million in 2014. Other deductions in 2015 included impairments of identifiable intangible assets totaling $83 million (see Note 4 to the Financial Statements).

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Interest expense and related charges decreased $511 million, or 35%, to $964 million in 2015. The decrease reflected:

• $922 million in lower interest expense on pre-petition debt due to the discontinuance of interest due to the Chapter 11 Cases, and

• $85 million in lower amortization of pre-petition debt issuances, amendment and extension costs and discounts due to reclassification of such amounts to liabilities subject to compromise in 2014,

partially offset by

• $401 million in higher expense related to adequate protection payments approved by the Bankruptcy Court for the benefit of TCEH secured creditors in the nine months ended September 30, 2015 as compared to the post-petition period ended September 30, 2014;

• $65 million in mark-to-market net gains on interest rate swaps in 2014;

• $25 million in higher interest expense on debtor-in-possession financing in the nine months ended September 30, 2015 as compared to the post-petition period ended September 30, 2014, and

• $6 million in lower capitalized interest.

Reorganization items totaled $152 million and $468 million in the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014, respectively. Activity in 2015 included $75 million in legal advisory and representation services, $46 million in other professional consulting and advisory services and $28 million primarily related to contract claim adjustments. Activity in 2014 included a $277 million liability adjustment arising from termination of interest rate swap agreements and natural gas hedging positions (see Note 14 to Financial Statements), $87 million in fees associated with completion of the TCEH DIP Facility discussed in Note 9 to Financial Statements, $51 million in legal advisory and representation services and $52 million in other professional consulting and advisory services. See Note 8 to the Financial Statements for additional discussion.

Income tax benefit totaled $816 million and $589 million on pretax losses in 2015 and 2014, respectively. Excluding the nondeductible goodwill impairment charges in 2015 and the $15 million income tax benefit recorded in the third quarter of 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year (see Note 5 to the Financial Statements), the effective tax rate was 32.9% in 2015 and 32.2% in 2014. The increase in the effective income tax rate was driven by the difference in the forecasted effective tax rate and the statutory rate applied to long-lived and intangible asset impairment charges and lower state tax expense due to a reduction in the Texas margin tax rate in 2015, partially offset by higher nondeductible legal and other professional services costs related to the Chapter 11 Cases in 2015.

Net loss for the Competitive Electric segment increased $1.873 billion to $3.068 billion in 2015. The increase primarily reflected the noncash impairments of goodwill and certain long-lived assets, partially offset by the decrease in interest expense, the decrease in depreciation and amortization expense and the higher reorganization costs incurred in 2014.

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Competitive Electric Segment — Energy-Related Commodity Contracts and Mark-to-Market Activities

The table below summarizes the changes in commodity contract assets and liabilities for the nine months ended September 30, 2015 and 2014. The net change in these assets and liabilities, excluding "other activity" as described below, reflects $105 million in unrealized net gains in 2015 and $504 million in unrealized net losses in 2014 arising from mark-to-market accounting for positions in the commodity contract portfolio.

	Nine Months Ended September 30,
	2015			2014
Commodity contract net asset at beginning of period	$	180		$	525
Settlements/termination of positions (a)	(176		)	(390		)
Changes in fair value of positions in the portfolio (b)	281			(114		)
Other activity (c)	(26		)	4
Commodity contract net asset at end of period	$	259		$	25

____________

(a) Represents reversals of previously recognized unrealized gains and losses upon settlement/termination (offsets realized gains and losses recognized in the settlement period). Excludes changes in fair value in the month the position settled as well as amounts related to positions entered into and settled in the same month.

(b) Represents unrealized net gains (losses) recognized, reflecting the effect of changes in fair value. Excludes changes in fair value in the month the position settled as well as amounts related to positions entered into and settled in the same month.

(c) These amounts do not represent unrealized gains or losses. Includes initial values of positions involving the receipt or payment of cash or other consideration, generally related to options purchased/sold.

Maturity Table — The following table presents the net commodity contract asset arising from recognition of fair values at September 30, 2015, scheduled by the source of fair value and contractual settlement dates of the underlying positions.

	Maturity dates of unrealized commodity contract net asset at September 30, 2015
Source of fair value	Less than 1 year			1-3 years		Total
Prices actively quoted	$	190		$	30	$	220
Prices provided by other external sources	(7		)	19		12
Prices based on models	20			7		27
Total	$	203		$	56	$	259

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FINANCIAL CONDITION

Cash Flows — Nine Months Ended September 30, 2015 Compared to Nine Months Ended September 30, 2014 — Cash used in operating activities totaled $123 million in 2015 compared to cash provided by operating activities of $267 million in 2014. The change of $390 million was driven by cash used to pay interest payments as a result of the EFIH Second Lien Note repayment (see Note 10 to the Financial Statements), higher cash used to pay for reorganization costs, higher cash used to reduce the net payables due to unconsolidated subsidiary (see Note 15 to the Financial Statements) and lower cash used in 2014 due to delayed payments on accounts payable and accrued liabilities due to the automatic stay resulting from the commencement of our Chapter 11 Cases; partially offset by a decrease in cash used for margin deposits.

Depreciation and amortization expense reported in the condensed statements of consolidated cash flows exceeded the amount reported in the condensed statements of consolidated income (loss) by $114 million and $125 million for the nine months ended September 30, 2015 and 2014, respectively. The difference represented amortization of nuclear fuel, which is reported as fuel costs in the condensed statements of consolidated income (loss) consistent with industry practice, and amortization of intangible assets arising from purchase accounting that is reported in various other condensed statements of consolidated income (loss) line items including operating revenues and fuel and purchased power costs and delivery fees.

Cash used in financing activities totaled $497 million in 2015 compared to cash provided by financing activities of $2.274 billion in 2014. Activity in 2015 reflected the repayment of $445 million principal amount of EFIH Second Lien Notes and $28 million in fees related to the repayment (see Note 10 to the Financial Statements). Activity in 2014 reflected $1.425 billion and $3.564 billion in borrowings from the TCEH and EFIH DIP Facilities, respectively, partially offset by $2.438 billion in repayments of EFIH First Lien Notes and $180 million in payments for fees associated with completion of the TCEH and EFIH DIP Facilities.

Cash used in investing activities totaled $307 million and $152 million in 2015 and 2014, respectively. Cash used in 2015 reflected capital expenditures (including nuclear fuel purchases) totaling $338 million. Cash used in 2014 reflected capital expenditures (including nuclear fuel purchases) totaling $325 million and a $184 million increase in restricted cash supporting letters of credit issued under the TCEH DIP Facility, partially offset by $378 million in restricted cash released from an escrow account when certain letters of credit were drawn.

Debt Activity — Debt activities during the nine months ended September 30, 2015 are as follows (all amounts presented are principal, and settlements include amounts related to capital leases and exclude amounts related to debt discount, financing and reacquisition expenses). There were no borrowings in the nine months ended September 30, 2015.

	Settlements
TCEH (a)	$	(20	)
EFCH	(4		)
EFIH (b)	(445		)
EFH Corp. (c)	(5		)
Total	$	(474	)

___________

(a) Settlements include $16 million of payments of principal at scheduled maturity dates and $4 million of payments of capital lease liabilities.

(b) Settlements represent cash repayments of pre-petition debt as approved by the Bankruptcy Court (see Note 10 to the Financial Statements).

(c) Settlements are noncash.

See Notes 9 and 10 to the Financial Statements for further detail of debtor-in-possession borrowing facilities and pre-petition debt.

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Available Liquidity — The following table summarizes changes in available liquidity for the nine months ended September 30, 2015:

	Available Liquidity
	September 30, 2015		December 31, 2014		Change
Cash and cash equivalents – EFH Corp. and other	$	429	$	428	$	1
Cash and cash equivalents – EFIH	370		1,157		(787		)
Cash and cash equivalents – TCEH (a)	1,702		1,843		(141		)
Total cash and cash equivalents	2,501		3,428		(927		)
TCEH DIP Revolving Credit Facility (b)	1,950		1,950		—
Total liquidity (b)	$	4,451	$	5,378	$	(927	)

___________

(a) Cash and cash equivalents at September 30, 2015 and December 31, 2014 exclude $870 million and $901 million, respectively, of restricted cash held for letter of credit support. The September 30, 2015 restricted cash balance includes $506 million under the TCEH pre-petition Letter of Credit Facility and $364 million under the TCEH DIP Facility.

(b) Pursuant to an order of the Bankruptcy Court, the TCEH Debtors may not have more than $1.650 billion of cash borrowings outstanding under the TCEH DIP Revolving Credit Facility without written consent of the TCEH committee of unsecured creditors and the ad hoc group of TCEH unsecured noteholders or further order of the Bankruptcy Court.

The decrease in available liquidity of $927 million in the nine months ended September 30, 2015 compared to December 31, 2014 was driven by the EFIH Second Lien Note repayment totaling $750 million (see Note 10 to the Financial Statements). The decrease also reflected $338 million in capital expenditures (including nuclear fuel purchases) and $214 million of cash used to pay reorganization items in 2015, partially offset by $206 million of distribution of earnings from Oncor Holdings. See discussion of cash flows above.

Subject to certain exceptions under the Bankruptcy Code, the Bankruptcy Filing automatically enjoined, or stayed, the continuation of most pending judicial or administrative proceedings and the filing of other actions against the Debtors or their property to recover on, collect or secure a claim arising prior to the Petition Date (including with respect to our pre-petition debt instruments).

The Bankruptcy Court approved final orders in June 2014 authorizing the TCEH DIP Facility and the EFIH DIP Facility (see Note 9 to the Financial Statements). The TCEH DIP Facility provides for $3.375 billion in senior secured, super-priority financing. The EFIH First Lien DIP Facility provides for $5.4 billion in senior secured, super-priority financing.

We have incurred and expect to continue to incur significant costs associated with the Chapter 11 Cases and our reorganization, but we cannot accurately predict the effect the Chapter 11 Cases will have on our operations, liquidity, financial position and results of operations. Based upon our current internal financial forecasts, we believe that we will have sufficient amounts available under the DIP Facilities, plus cash generated from operations, to fund our anticipated cash requirements through at least the maturity dates of the DIP Facilities.

Debt Capacity — The TCEH DIP Facility permits, subject to certain terms, conditions and limitations, TCEH to request additional term loans or increases in the amount of the revolving credit commitment, not to exceed $750 million. The EFIH DIP Facility permits, subject to certain terms, conditions and limitations, EFIH to incur incremental junior lien subordinated debt in an aggregate amount not to exceed $3 billion.

Capital Expenditures — In our 2014 Form 10-K, we projected annual capital expenditures in 2015 to total approximately $650 million. We currently project total annual capital expenditures for 2015 to total approximately $525 million. The decrease primarily reflects cancelled or deferred mining and generation projects and lower nuclear fuel costs driven by lower estimated prices.

Distributions of Earnings from Oncor Holdings and Related Considerations —Oncor Holdings' distributions of earnings to us totaled $206 million and $128 million for the nine months ended September 30, 2015 and 2014, respectively. In October 2015, Oncor Holdings' board of directors declared a cash distribution. The amount of the distribution is expected to be up to $109 million, to be paid in November 2015. See Note 3 to the Financial Statements for discussion of limitations on amounts Oncor can distribute to its members.

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EFH Corp., Oncor Holdings, Oncor and Oncor's minority investor are parties to a Federal and State Income Tax Allocation Agreement. Additional income tax amounts receivable or payable may arise in the normal course under that agreement.

Liquidity Effects of Commodity Hedging and Trading Activities —We have entered into commodity hedging and trading transactions that require us to post collateral if the forward price of the underlying commodity moves such that the hedging or trading instrument we hold has declined in value. TCEH uses cash, letters of credit and other forms of credit support to satisfy such collateral posting obligations. See Note 9 to the Financial Statements for discussion of the TCEH DIP Facility.

Exchange cleared transactions typically require initial margin (i.e., the upfront cash and/or letter of credit posted to take into account the size and maturity of the positions and credit quality) in addition to variation margin (i.e., the daily cash margin posted to take into account changes in the value of the underlying commodity). The amount of initial margin required is generally defined by exchange rules. Clearing agents, however, typically have the right to request additional initial margin based on various factors including market depth, volatility and credit quality, which may be in the form of cash, letters of credit, a guaranty or other forms as negotiated with the clearing agent. Cash collateral received from counterparties is either used for working capital and other corporate purposes, including reducing borrowings under credit facilities, or is required to be deposited in a separate account and restricted from being used for working capital and other corporate purposes. At September 30, 2015, essentially all cash collateral held was unrestricted. With respect to over-the-counter transactions, counterparties generally have the right to substitute letters of credit for such cash collateral. In such event, the cash collateral previously posted would be returned to such counterparties, which would reduce liquidity in the event the cash was not restricted.

At September 30, 2015, TCEH received or posted cash and letters of credit for commodity hedging and trading activities as follows:

• $1 million in cash has been posted with counterparties as compared to $9 million posted at December 31, 2014;

• $126 million in cash has been received from counterparties as compared to $26 million received at December 31, 2014;

• $203 million in letters of credit have been posted with counterparties, as compared to $329 million posted at December 31, 2014, and

• $3 million in letters of credit have been received from counterparties, as compared to $3 million received at December 31, 2014.

Income Tax Matters —EFH Corp. files a US federal income tax return that includes the results of EFCH, EFIH, Oncor Holdings and TCEH. EFH Corp. (parent entity) is a corporate member of the EFH Corp. consolidated group, while each of EFIH, Oncor Holdings, EFCH and TCEH is classified as a disregarded entity for US federal income tax purposes. Oncor is a partnership for US federal income tax purposes and is not a corporate member of the EFH Corp. consolidated group. Pursuant to applicable US Treasury regulations and published guidance of the IRS, corporations that are members of a consolidated group have joint and several liability for the taxes of such group.

EFH Corp. and certain of its subsidiaries (including EFCH, EFIH, and TCEH, but not including Oncor Holdings and Oncor) are parties to a Federal and State Income Tax Allocation Agreement, which provides, among other things, that any corporate member or disregarded entity in the EFH Corp. group is required to make payments to EFH Corp. in an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return. Pursuant to the Plan of Reorganization, the Debtors have proposed to reject this agreement pursuant to the Bankruptcy Code at the effective time of the Plan of Reorganization. EFH Corp., Oncor Holdings, Oncor and Oncor's third-party minority investor are parties to a separate Federal and State Income Tax Allocation Agreement, which governs the computation of federal income tax liability among such parties, and similarly provides, among other things, that each of Oncor Holdings and Oncor will pay EFH Corp. its share of an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return.

In June 2015, the Texas margin tax rate was permanently reduced from 1.0% to 0.75% effective for tax years beginning on or after January 1, 2015. Due to the rate reduction, deferred tax balances have been adjusted, resulting in an income tax benefit of $9 million recorded in the second quarter of 2015 (see Note 5 to the Financial Statements).

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We expect to generate additional net operating losses (NOLs) during our Chapter 11 Cases and estimate that we will have approximately $6.3 billion of NOLs at the time of emergence (assuming a June 30, 2016 emergence date). Of that amount, we intend to utilize up to approximately $5.8 billion of NOLs to offset taxable gain recognized in connection with the Plan of Reorganization that will result in a step-up in the tax basis of certain assets of TCEH. It is expected that the assets of TCEH will have an aggregate tax basis of approximately $5.5 billion at the time of emergence (prior to giving effect to such step-up in tax basis). We are seeking a private letter ruling from the IRS regarding the transaction resulting in such step-up in tax basis and such transaction is subject to receiving a favorable ruling from the IRS. The determination of which assets will receive a step-up in tax basis depends upon the fair market value and the tax basis of such assets at the time of emergence. Applicable GAAP guidance may require deferred tax assets reflected in the financial statements be subjected to a full or partial valuation allowance in future periods, unless and until a transaction occurs that results in the utilization of such deferred tax assets.

Income Tax Payments— In the next twelve months, income tax payments related to the Texas margin tax are expected to total approximately $39 million, and no payments or refunds of federal income taxes are expected. However, please see Note 5 to the Financial Statements for discussion of future payments to the IRS that were formally assessed in the three months ended June 30, 2015 related to the final conclusion of audit issues for tax years 2008 and 2009. Forecasted payments related to the Texas margin tax have been reduced due to the recent enactment of a rate reduction in the Texas margin tax rate. Income tax payments totaled $51 million (all of which related to Texas margin tax) and $55 million ($52 million related to Texas margin tax) for the nine months ended September 30, 2015 and 2014, respectively. In April 2014, EFH Corp. paid the IRS $3 million in interest in final settlement of issues contested for tax years 1997 through 2002.

Financial Covenants — The Bankruptcy Filing constituted an event of default and automatic acceleration under the agreements governing the pre-petition debt of EFH Corp. and its subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities. The creditors are, however, stayed from taking any action against the Debtors as a result of such defaults and accelerations under the Bankruptcy Code.

The agreement governing the TCEH DIP Facility includes a covenant that requires the Consolidated Superpriority Secured Net Debt to Consolidated EBITDA ratio not exceed 3.50 to 1.00, beginning with the test period ending June 30, 2014. The ratio was 1.24 to 1.00 at September 30, 2015, and TCEH is in compliance with this covenant. Consolidated Superpriority Secured Net Debt consists of outstanding term loans and revolving credit exposure under the TCEH DIP Facility less unrestricted cash. TCEH's Consolidated EBITDA (as used in the covenant contained in the agreement governing the TCEH DIP Facility) for the nine and twelve months ended September 30, 2015 totaled $1.395 billion and $1.708 billion, respectively. See Exhibit 99(b) for a reconciliation of TCEH's net income (loss) to Consolidated EBITDA. The EFIH DIP Facility also includes a minimum liquidity covenant pursuant to which EFIH cannot allow unrestricted cash (as defined in the EFIH DIP Facility) to be less than $150 million. EFIH is in compliance with this covenant.

See Note 9 to the Financial Statements for discussion of other covenants related to the DIP Facilities.

Collateral Support Obligations — The RCT has rules in place to assure that parties can meet their mining reclamation obligations, including through self-bonding when appropriate. In June 2014, the RCT agreed to accept a collateral bond from TCEH of up to $1.1 billion as a substitute for its self-bond. The collateral bond is a $1.1 billion carve out from the super-priority liens under the TCEH DIP Facility that will enable the RCT to be paid before the TCEH DIP Facility lenders in the event of a liquidation of TCEH's assets. Collateral support relates to land mined or being mined and not yet reclaimed as well as land for which permits have been obtained but mining activities have not yet begun and land already reclaimed but not released from regulatory obligations by the RCT, and includes cost contingency amounts.

Certain transmission and distribution utilities in Texas are required to assure adequate creditworthiness of any REP to support the REP's obligation to collect securitization bond-related (transition) charges on behalf of the utility. Under these requirements, as a result of TCEH's below investment grade credit rating, TCEH is required to post collateral support in an amount equal to estimated transition charges over specified time periods. The amount of collateral support required to be posted, as well as the time period of transition charges covered, varies by utility. At September 30, 2015, TCEH has posted collateral support in the form of letters of credit to the applicable utilities in an aggregate amount equal to $23 million, with $9 million of this amount posted for the benefit of Oncor.

The PUCT has rules in place to assure adequate creditworthiness of each REP, including the ability to return customer deposits, if necessary. Under these rules, at September 30, 2015, TCEH posted letters of credit in the amount of $55 million, which are subject to adjustments.

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ERCOT has rules in place to assure adequate creditworthiness of parties that participate in the day-ahead, real-time and congestion revenue rights markets operated by ERCOT. Under these rules, TCEH has posted collateral support, predominantly in the form of letters of credit, totaling $65 million at September 30, 2015 (which is subject to daily adjustments based on settlement activity with ERCOT).

Oncor and Texas Holdings agreed to the terms of a stipulation with major interested parties to resolve all outstanding issues in the PUCT review related to the Merger. As part of this stipulation, TCEH would be required to post a letter of credit in an amount equal to $170 million to secure its payment obligations to Oncor in the event, which has not occurred, two or more rating agencies downgrade Oncor's credit ratings below investment grade.

Material Cross Default/Acceleration Provisions — Certain of our financing arrangements contain provisions that result in an event of default if there were a failure under other financing arrangements to meet payment terms or to observe other covenants that could or does result in an acceleration of payments due. Such provisions are referred to as "cross default" or "cross acceleration" provisions. The Bankruptcy Filing triggered defaults on our pre-petition debt obligations, but pursuant to the Bankruptcy Code, the creditors are stayed from taking any actions against the Debtors as a result of such defaults.

Under the terms of a TCEH rail car lease, which has $34 million in remaining lease payments at September 30, 2015 and terminates in 2017, if TCEH fails to perform under agreements causing its indebtedness in an aggregate principal amount of $100 million or more to become accelerated, the lessor could, among other remedies, terminate the lease and effectively accelerate the payment of any remaining lease payments due under the lease. Under the Bankruptcy Code, the lessors are stayed from taking any action against the Debtors as a result of the default.

Under the terms of another TCEH rail car lease, which has $6 million in remaining lease payments at September 30, 2015 and terminates in 2018, if payment obligations of TCEH in excess of $200 million in the aggregate to third-party creditors under lease agreements, deferred purchase agreements or loan or credit agreements are accelerated prior to their original stated maturity, the lessor could, among other remedies, terminate the lease and effectively accelerate the payment of any remaining lease payments due under the lease. Under the Bankruptcy Code, the lessors are stayed from taking any action against the Debtors as a result of the default.

Guarantees — See Note 11 to the Financial Statements for discussion of guarantees.

OFF–BALANCE SHEET ARRANGEMENTS

See Notes 3 and 11 to the Financial Statements regarding VIEs and guarantees, respectively.

COMMITMENTS AND CONTINGENCIES

See Note 11 to the Financial Statements for discussion of commitments and contingencies.

CHANGES IN ACCOUNTING STANDARDS

See Note 1 to the Financial Statements for discussion of changes in accounting standards.

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Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

All dollar amounts in the tables in the following discussion and analysis are stated in millions of US dollars unless otherwise indicated.

Market risk is the risk that in the ordinary course of business we may experience a loss in value as a result of changes in market conditions that affect economic factors such as commodity prices, interest rates and counterparty credit. Our exposure to market risk is affected by a number of factors, including the size, duration and composition of our energy and financial portfolio, as well as the volatility and liquidity of markets. Instruments used to manage this exposure include interest rate swaps to hedge debt costs, as well as exchange-traded, over-the-counter contracts and other contractual arrangements to hedge commodity prices.

Risk Oversight

We manage the commodity price, counterparty credit and commodity-related operational risk related to the competitive energy business within limitations established by senior management and in accordance with overall risk management policies. Interest rate risk is managed centrally by the corporate treasury function. Market risks are monitored by risk management groups that operate independently of the wholesale commercial operations, utilizing defined practices and analytical methodologies. These techniques measure the risk of change in value of the portfolio of contracts and the hypothetical effect on this value from changes in market conditions and include, but are not limited to, position review, Value at Risk (VaR) methodologies and stress test scenarios. Key risk control activities include, but are not limited to, transaction review and approval (including credit review), operational and market risk measurement, transaction authority oversight, validation of transaction capture, market price validation and reporting, and portfolio valuation and reporting, including mark-to-market valuation, VaR and other risk measurement metrics.

We have a corporate risk management organization that is headed by the Chief Financial Officer, who also functions as the Chief Risk Officer. The Chief Risk Officer, through his designees, enforces applicable risk limits, including the respective policies and procedures to ensure compliance with such limits, and evaluates the risks inherent in our businesses.

Commodity Price Risk

The competitive business is subject to the inherent risks of market fluctuations in the price of electricity, natural gas and other energy-related products it markets or purchases. We actively manage the portfolio of generation assets, fuel supply and retail sales load to mitigate the near-term impacts of these risks on results of operations. Similar to other participants in the market, we cannot fully manage the long-term value impact of structural declines or increases in natural gas and power prices.

In managing energy price risk, we enter into a variety of market transactions including, but not limited to, short- and long-term contracts for physical delivery, exchange-traded and over-the-counter financial contracts and bilateral contracts with customers. Activities include hedging, the structuring of long-term contractual arrangements and proprietary trading. We continuously monitor the valuation of identified risks and adjust positions based on current market conditions. We strive to use consistent assumptions regarding forward market price curves in evaluating and recording the effects of commodity price risk.

VaR Methodology — A VaR methodology is used to measure the amount of market risk that exists within the portfolio under a variety of market conditions. The resultant VaR produces an estimate of a portfolio's potential for loss given a specified confidence level and considers, among other things, market movements utilizing standard statistical techniques given historical and projected market prices and volatilities.

A Monte Carlo simulation methodology is used to calculate VaR and is considered by management to be the most effective way to estimate changes in a portfolio's value based on assumed market conditions for liquid markets. The use of this method requires a number of key assumptions, such as use of (i) an assumed confidence level; (ii) an assumed holding period (i.e., the time necessary for management action, such as to liquidate positions); and (iii) historical estimates of volatility and correlation data. The tables below detail certain VaR measures related to various portfolios of contracts; however, we have excluded a table for proprietary trading activity due to the de minimis size of that activity.

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VaR for Energy-Related Contracts Subject to Mark-to-Market (MtM) Accounting — This measurement estimates the potential loss in fair value, due to changes in market conditions, of all contracts marked-to-market in net income (principally hedges not accounted for as cash flow hedges and trading positions), based on a 95% confidence level and an assumed holding period of five to 60 days.

	September 30, 2015		December 31, 2014
Month-end average MtM VaR:	$	69	$	50
Month-end high MtM VaR:	$	97	$	129
Month-end low MtM VaR:	$	53	$	22

Earnings at Risk (EaR) — This measurement estimates the potential reduction of pretax earnings for the periods presented, due to changes in market conditions, of all energy-related contracts marked-to-market in net income and contracts not marked-to-market in net income that are expected to be settled within the fiscal year (physical purchases and sales of commodities), based on a 95% confidence level and an assumed holding period of five to 60 days.

	September 30, 2015		December 31, 2014
Month-end average EaR:	$	40	$	27
Month-end high EaR:	$	46	$	60
Month-end low EaR:	$	26	$	4

The increase in the month end average MtM VaR risk measure during 2015 reflected increased net commodity positions and increased price volatility.

Credit Risk

Credit risk relates to the risk of loss associated with nonperformance by counterparties. We maintain credit risk policies with regard to our counterparties to minimize overall credit risk. These policies prescribe practices for evaluating a potential counterparty's financial condition, credit rating and other quantitative and qualitative credit criteria and authorize specific risk mitigation tools including, but not limited to, use of standardized master agreements that allow for netting of positive and negative exposures associated with a single counterparty. We have processes for monitoring and managing credit exposure of our businesses including methodologies to analyze counterparties' financial strength, measurement of current and potential future exposures and contract language that provides rights for netting and setoff. Credit enhancements such as parental guarantees, letters of credit, surety bonds, margin deposits and customer deposits are also utilized. Additionally, individual counterparties and credit portfolios are managed to assess overall credit exposure.

Credit Exposure — Our gross exposure to credit risk associated with trade accounts receivable (retail and wholesale) and net asset positions (before credit collateral) arising from commodity contracts and hedging and trading activities totaled $981 million at September 30, 2015. The components of this exposure are discussed in more detail below.

Assets subject to credit risk at September 30, 2015 include $617 million in retail trade accounts receivable before taking into account cash deposits held as collateral for these receivables totaling $52 million. The risk of material loss (after consideration of bad debt allowances) from nonperformance by these customers is unlikely based upon historical experience. Allowances for uncollectible accounts receivable are established for the potential loss from nonpayment by these customers based on historical experience, market or operational conditions and changes in the financial condition of large business customers.

The remaining credit exposure arises from wholesale trade receivables and amounts associated with derivative instruments related to hedging and trading activities. Counterparties to these transactions include energy companies, financial institutions, electric utilities, independent power producers, oil and gas producers, local distribution companies and energy trading and marketing companies. At September 30, 2015, the exposure to credit risk from these counterparties totaled $364 million consisting of accounts receivable of $94 million and net asset positions related to commodity contracts of $270 million, after taking into account the netting provisions of the master agreements described above but before taking into account $127 million in credit collateral (cash, letters of credit and other credit support). The net exposure (after credit collateral) of $237 milliondecreased$8 million in the nine months ended September 30, 2015.

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Of this $237 million net exposure, 92% is with investment grade customers and counterparties, as determined by our internal credit evaluation process which includes publicly available information including major rating agencies' published ratings as well as internal credit methodologies and credit scoring models. Those customers and counterparties without an S&P rating of at least BBB- or similar rating from another major rating agency are rated using internal credit methodologies and credit scoring models to estimate an S&P equivalent rating. The company routinely monitors and manages credit exposure to these customers and counterparties based on, but not limited to, the assigned credit rating, margining and collateral management.

The following table presents the distribution of credit exposure at September 30, 2015. This credit exposure largely represents wholesale trade accounts receivable and net asset positions related to commodity contracts and hedging and trading activities (a substantial majority of which mature in 2015) recognized as derivative assets in the condensed consolidated balance sheets, after taking into consideration netting provisions within each contract, setoff provisions in the event of default and any master netting contracts with counterparties. Credit collateral includes cash and letters of credit, but excludes other credit enhancements such as liens on assets. See Note 14 to the Financial Statements for further discussion of portions of this exposure related to activities marked-to-market in the financial statements.

	Exposure Before Credit Collateral			Credit Collateral		Net Exposure
Investment grade	$	342		$	123	$	219
Below investment grade	22			4		18
Totals	$	364		$	127	$	237
Investment grade	94.0		%			92.4		%
Below investment grade	6.0		%			7.6		%

In addition to the exposures in the table above, contracts classified as "normal" purchase or sale and non-derivative contractual commitments are not marked-to-market in the financial statements. Such contractual commitments may contain pricing that is favorable considering current market conditions and therefore represent economic risk if the counterparties do not perform. Nonperformance could have a material impact on future results of operations, liquidity and financial condition.

Significant (10% or greater) concentration of credit exposure exists with two counterparties, which represented 32% and 12% of the $237 million net exposure. We view exposure to these counterparties to be within an acceptable level of risk tolerance due to the counterparties' credit ratings, each of which is rated as investment grade, the counterparties' market role and deemed creditworthiness and the importance of our business relationship with the counterparties. An event of default by one or more counterparties could subsequently result in termination-related settlement payments that reduce available liquidity if amounts such as margin deposits are owed to the counterparties or delays in receipts of expected settlements owed to us. While the potential concentration of risk with these counterparties is viewed to be within an acceptable risk tolerance, the exposure to hedge counterparties is managed through the various ongoing risk management measures described above.

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FORWARD-LOOKING STATEMENTS

This report and other presentations made by us contain "forward-looking statements." All statements, other than statements of historical facts, that are included in this report, or made in presentations, in response to questions or otherwise, that address activities, events or developments that may occur in the future, including such matters as activities related to our bankruptcy, financial or operational projections, capital allocation, future capital expenditures, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of power generation assets, market and industry developments and the growth of our businesses and operations (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely," "unlikely," "expected," "anticipated," "estimated," "should," "projection," "target," "goal," "objective" and "outlook"), are forward-looking statements. Although we believe that in making any such forward-looking statement our expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under Item 1A, Risk Factors in our 2014 Form 10-K and the discussion under Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations in this report and the following important factors, among others, that could cause our actual results to differ materially from those projected in such forward-looking statements:

• our ability to obtain the approval from the Bankruptcy Court for the Plan of Reorganization, particularly prior to the expiration of the exclusivity period granted by the Bankruptcy Court;

• our ability to satisfy the terms and conditions set forth in, and to receive the required approvals required under, the Merger and Purchase Agreement and the Plan Support Agreement;

• the breach by one or more of our counterparties under the Merger and Purchase Agreement and/or the Plan Support Agreement;

• our ability to obtain Bankruptcy Court approval with respect to our motions in the Chapter 11 Cases, including such approvals not being overturned on appeal or being stayed for any extended period of time;

• the terms and conditions of any Chapter 11 plan of reorganization that is ultimately approved by the Bankruptcy Court;

• the extent to which the Chapter 11 Cases cause customers, suppliers and others with whom we have commercial relationships to lose confidence in us, which may make it more difficult for us to obtain and maintain such commercial relationships on competitive terms;

• difficulties we may face in retaining and motivating our key employees through the bankruptcy process, and difficulties we may face in attracting new employees;

• the significant time and effort required to be spent by our senior management in dealing with the bankruptcy and restructuring activities rather than focusing exclusively on business operations;

• our ability to remain in compliance with the requirements of the DIP Facilities;

• our ability to maintain or obtain sufficient financing sources for our operations during the pendency of the Chapter 11 Cases and our ability to obtain sufficient exit financing to fund any Chapter 11 plan of reorganization;

• limitations on our ability to utilize previously incurred federal net operating losses or alternative minimum tax credits;

• the actions and decisions of creditors, regulators and other third parties that have an interest in the Chapter 11 Cases or reorganization that may be inconsistent with, or interfere with, our business and/or plans;

• the duration of the Chapter 11 Cases;

• the actions and decisions of regulatory authorities relative to any Chapter 11 plan of reorganization;

• restrictions on our operations due to the terms of our debt agreements, including the DIP Facilities, and restrictions imposed by the Bankruptcy Court;

• our ability to obtain any required regulatory consent necessary to implement any Chapter 11 plan of reorganization;

• the outcome of current or potential litigation regarding whether holders are entitled to make-whole or redemption premiums and/or post-petition interest in connection with the treatment of their claims in bankruptcy;

• the outcome of current or potential litigation regarding intercompany claims and/or derivative claims;

• prevailing governmental policies and regulatory actions, including those of the Texas Legislature, the Governor of Texas, the US Congress, the US Federal Energy Regulatory Commission, the North American Electric Reliability Corporation, the Texas Reliability Entity, Inc., the PUCT, the RCT, the NRC, the EPA, the TCEQ, the US Mine Safety and Health Administration and the US Commodity Futures Trading Commission, with respect to, among other things:

◦ allowed prices;

◦ allowed rates of return;

◦ permitted capital structure;

◦ industry, market and rate structure;

◦ purchased power and recovery of investments;

◦ operations of nuclear generation facilities;

◦ operations of fossil fueled generation facilities;

◦ operations of mines;

◦ self-bonding requirements;

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◦ acquisition and disposal of assets and facilities;

◦ development, construction and operation of facilities;

◦ decommissioning costs;

◦ present or prospective wholesale and retail competition;

◦ changes in tax laws and policies;

◦ changes in and compliance with environmental and safety laws and policies, including the CSAPR, the Mercury and Air Toxics Standard, regional haze program implementation and greenhouse gas and other climate change initiatives, and

◦ clearing over-the-counter derivatives through exchanges and posting of cash collateral therewith;

• legal and administrative proceedings and settlements, including the legal proceedings arising out of the bankruptcy;

• general industry trends;

• economic conditions, including the impact of an economic downturn;

• our ability to collect trade receivables from counterparties;

• our ability to attract and retain profitable customers;

• our ability to profitably serve our customers;

• restrictions on competitive retail pricing;

• changes in wholesale electricity prices or energy commodity prices, including the price of natural gas;

• changes in prices of transportation of natural gas, coal, fuel oil and other refined products;

• changes in the ability of vendors to provide or deliver commodities as needed;

• changes in market heat rates in the ERCOT electricity market;

• our ability to effectively hedge against unfavorable commodity prices, including the price of natural gas, market heat rates and interest rates;

• weather conditions, including drought and limitations on access to water, and other natural phenomena, and acts of sabotage, wars or terrorist or cyber security threats or activities;

• population growth or decline, or changes in market supply or demand and demographic patterns, particularly in ERCOT;

• changes in business strategy, development plans or vendor relationships;

• access to adequate transmission facilities to meet changing demands;

• changes in interest rates, commodity prices, rates of inflation or foreign exchange rates;

• changes in operating expenses, liquidity needs and capital expenditures;

• commercial bank market and capital market conditions and the potential impact of disruptions in US and international credit markets;

• access to capital, the cost of such capital, and the results of financing and refinancing efforts, including availability of funds in capital markets;

• our ability to generate sufficient cash flow to make interest or adequate protection payments, or refinance, our debt instruments, including the DIP Facilities;

• competition for new energy development and other business opportunities;

• inability of various counterparties to meet their obligations with respect to our financial instruments;

• changes in technology (including large scale electricity storage) used by and services offered by us;

• changes in electricity transmission that allow additional electricity generation to compete with our generation assets;

• significant changes in our relationship with our employees, including the availability of qualified personnel, and the potential adverse effects if labor disputes or grievances were to occur;

• changes in assumptions used to estimate costs of providing employee benefits, including medical and dental benefits, pension and OPEB, and future funding requirements related thereto, including joint and several liability exposure under ERISA;

• changes in assumptions used to estimate future executive compensation payments;

• hazards customary to the industry and the possibility that we may not have adequate insurance to cover losses resulting from such hazards;

• significant changes in critical accounting policies, and

• actions by credit rating agencies.

Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of them; nor can we assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.

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INDUSTRY AND MARKET INFORMATION

The industry and market data and other statistical information used throughout this report are based on independent industry publications, government publications, reports by market research firms or other published independent sources, including certain data published by ERCOT, the PUCT and NYMEX. We did not commission any of these publications or reports. Some data is also based on good faith estimates, which are derived from our review of internal surveys, as well as the independent sources listed above. Independent industry publications and surveys generally state that they have obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified such data and make no representation as to the accuracy of such information. Forecasts are particularly likely to be inaccurate, especially over long periods of time, and we do not know what assumptions regarding general economic growth are used in preparing the forecasts included in this report. Similarly, while we believe that such internal and external research is reliable, it has not been verified by any independent sources, and we make no assurances that the predictions contained therein are accurate.

Item 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

An evaluation was performed under the supervision and with the participation of our management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the disclosure controls and procedures in effect at the end of the current period included in this quarterly report on Form 10-Q. Based on the evaluation performed as of September 30, 2015, our principal executive officer and principal financial officer concluded that due to the material weakness in our internal control over financial reporting related to accounting for deferred income taxes, as previously disclosed in our 2014 Form 10-K, our disclosure controls and procedures were not effective as of September 30, 2015. In light of the material weakness in internal control over financial reporting, management completed substantive procedures, including validating the completeness and accuracy of the underlying data used for accounting for deferred income taxes, prior to filing this quarterly report on Form 10-Q.

These additional procedures have allowed us to conclude that, notwithstanding the material weakness in internal control over financial reporting related to accounting for deferred income taxes, the consolidated financial statements included in this report fairly present, in all material respects, our financial position, results of operations and cash flows for the periods presented in conformity with GAAP. Additionally, no restatement of our previously issued consolidated financial statements was required.

Previously Reported Material Weakness

As previously disclosed in our 2014 Form 10-K, our management concluded that our internal control over financial reporting and our disclosure controls and procedures were ineffective as of December 31, 2014 due to a material weakness in accounting for deferred income taxes. Pursuant to SEC rules and regulations, a material weakness is "a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the registrant's annual or interim financial statements will not be prevented or detected on a timely basis".

In response to the material weakness described above, during the nine months ended September 30, 2015, we began implementing a plan of remediation to strengthen our overall internal control over accounting for deferred income taxes. The remediation plan includes the following steps:

• enhancing the formality and rigor of review and documentation related to our deferred income tax reconciliation procedures,

• implementing additional oversight and monitoring controls over our deferred income tax review processes that are designed to operate at a level of precision to detect an error resulting from a related control failure before it results in a material misstatement of our financial statements, and

• hiring key personnel in our tax department and further evaluating staffing levels to ensure the execution of timely and rigorous control procedures.

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Management is currently implementing these steps. Specifically, during the nine months ended September 30, 2015, we hired permanent and temporary resources to supplement our current staffing levels in our tax department and implemented additional oversight and monitoring controls. Additionally, during the three months ended September 30, 2015, we have implemented and tested new and refined interim controls (controls executed on a quarterly basis). Our testing of these interim controls has indicated that they operate effectively. During the remainder of the year, we will be implementing and testing new annual controls related to accounting for deferred income taxes.

We are committed to maintaining a strong internal control environment and believe that these remediation efforts will represent improvements in our controls.

Changes in Internal Control over Financial Reporting

With the oversight of senior management and our audit committee, we have continued to remediate the underlying causes of the material weakness. Other than with respect to the ongoing plan for remediation of the material weakness, there has been no change to our internal control over financial reporting during our most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

Reference is made to the discussion in Note 11 to the Financial Statements regarding legal proceedings.

Item 1A. RISK FACTORS

There have been no material changes from the risk factors discussed in Part I, Item 1A. Risk Factors in our 2014 Form 10-K and Part II, Item 1A. Risk Factors in our Form 10-Q for the period ended March 31, 2015, except for the risk factor discussed below and the information disclosed elsewhere in this quarterly report on Form 10-Q that provides factual updates to risk factors contained in our 2014 Form 10-K and our Form 10-Q for the period ended March 31, 2015. The risks described in such reports are not the only risks facing our company.

The consummation of the EFH Acquisition contemplated by the Plan of Reorganization is subject to various conditions precedent. If the Merger and Purchase Agreement is terminated, the Purchasers and the Investor Group will effectively have no liability to the Debtors thereunder except for certain expense reimbursement obligations. As a result, even if the Plan of Reorganization is confirmed by the Bankruptcy Court, there is no certainty that the EFH Acquisition will be completed.

The Merger and Purchase Agreement includes various conditions precedent to consummation of the transactions contemplated thereby. The Purchasers' conditions precedent include, among other things, a condition that certain approvals and rulings be obtained, including from, among others, the PUCT and the IRS, that are necessary to consummate the acquisition and convert a successor to Reorganized EFH into a REIT. In addition, the Merger and Purchase Agreement may be terminated upon certain events, including, among other things, by either party, if certain termination events occur under the Plan Support Agreement, including if the EFH Acquisition is not completed by April 30, 2016, subject to extension to June 30, 2016 or August 31, 2016 under certain conditions. If the Merger and Purchase Agreement is terminated for any reason (including, among other things, due to failure to complete the EFH Acquisition within the timeframes described therein), the Purchasers and the Investor Group will effectively have no liability to the Debtors thereunder. EFH Corp. and EFIH have effectively waived their respective rights under the Merger and Purchase Agreement to seek any legal or equitable remedies (including money damages and specific performance) against the Purchasers or the Investor Group. As a result, even if the Plan of Reorganization is confirmed by the Bankruptcy Court and the applicable regulatory approvals are obtained, there is no certainty that the EFH Acquisition will be completed. If it is not completed for any reason, the Debtors will have no recourse against the Purchasers and the Investor Group except for certain expense reimbursement obligations. If this were to occur, the Debtors would need to formulate a new plan of reorganization and if the exclusivity period has expired, then other stakeholders could file their own plan of reorganization.

Item 4. MINE SAFETY DISCLOSURES

We currently own and operate 12 surface lignite coal mines in Texas to provide fuel for our electricity generation facilities. These mining operations are regulated by the US Mine Safety and Health Administration (MSHA) under the Federal Mine Safety and Health Act of 1977, as amended (the Mine Act), as well as other federal and state regulatory agencies such as the RCT and Office of Surface Mining. The MSHA inspects US mines, including ours, on a regular basis, and if it believes a violation of the Mine Act or any health or safety standard or other regulation has occurred, it may issue a citation or order, generally accompanied by a proposed fine or assessment. Such citations and orders can be contested and appealed, which often results in a reduction of the severity and amount of fines and assessments and sometimes results in dismissal. Disclosure of MSHA citations, orders and proposed assessments are provided in Exhibit 95(a) to this quarterly report on Form 10-Q.

Item 5. OTHER INFORMATION

None.

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Item 6. EXHIBITS

(a) Exhibits filed or furnished as part of Part II are:

Exhibits	Previously Filed With File Number*	As Exhibit
(3(i))	Articles of Incorporation
3(a)	1-12833 Form 10-Q (Quarter ended March 31, 2013) (filed May 2, 2013)	3(a)	—	Restated Certificate of Formation of Energy Future Holdings Corp.
(3(ii))	By-laws
3(b)	1-12833 Form 10-Q (Quarter ended March 31, 2013) (filed May 2, 2013)	3(b)	—	Amended and Restated Bylaws of Energy Future Holdings Corp.
(10)	Material Contracts
10(a)	1-12833 Form 8-K/A (filed September 17, 2015)	10(a)	—	Amended and Restated Plan Support Agreement dated September 11, 2015 among the Debtors and the other parties thereto.
10(b)	1-12833 Form 8-K/A (filed September 17, 2015)	10(b)	—	Amended and Restated Settlement Agreement dated September 11, 2015 among the Debtors and the other parties thereto.
10(c)	1-12833 Form 8-K (filed August 10, 2015)	10(c)	—	Purchase Agreement and Plan of Merger by and among Ovation Acquisition I, L.L.C., Ovation Acquisition II, L.L.C., Energy Future Intermediate Holding Company L.L.C. and Energy Future Holdings Corp. dated as of August 9, 2015.
10(d)	1-12833 Form 8-K (filed August 10, 2015)	10(d)	—	Backstop Agreement, dated as of August 9, 2015, by and among Ovation Acquisition I, L.L.C., Energy Future Holdings Corp., Energy Future Intermediate Holding Company L.L.C. and the Investors party thereto.
(31)	Rule 13a - 14(a)/15d-14(a) Certifications
31(a)			—	Certification of John F. Young, principal executive officer of Energy Future Holdings Corp., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31(b)			—	Certification of Paul M. Keglevic, principal financial officer of Energy Future Holdings Corp., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(32)	Section 1350 Certifications
32(a)			—	Certification of John F. Young, principal executive officer of Energy Future Holdings Corp., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32(b)			—	Certification of Paul M. Keglevic, principal financial officer of Energy Future Holdings Corp., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(95)	Mine Safety Disclosures
95(a)			—	Mine Safety Disclosures
(99)	Additional Exhibits
99(a)			—	Condensed Statement of Consolidated Income – Twelve Months Ended September 30, 2015.

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Exhibits	Previously Filed With File Number*	As Exhibit
99(b)			—	Texas Competitive Electric Holdings Company LLC Consolidated EBITDA reconciliation for the nine and twelve months ended September 30, 2015 and 2014
99(c)	1-12833 Form 8-K (filed September 22, 2015)	99(a)	—	Debtors' Fifth Amended Joint Plan of Reorganization filed on September 21, 2015 pursuant to Chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court for the District of Delaware in Case No. 14-10979 (Jointly Administered)
	XBRL Data Files
101.INS			—	XBRL Instance Document
101.SCH			—	XBRL Taxonomy Extension Schema Document
101.CAL			—	XBRL Taxonomy Extension Calculation Document
101.DEF			—	XBRL Taxonomy Extension Definition Document
101.LAB			—	XBRL Taxonomy Extension Labels Document
101.PRE			—	XBRL Taxonomy Extension Presentation Document

____________

* Incorporated herein by reference

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Energy Future Holdings Corp.
By:	/s/ TERRY L. NUTT
Name:	Terry L. Nutt
Title:	Senior Vice President and Controller
	(Principal Accounting Officer)

Date: November 3, 2015

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EX-31.A

Exhibit 31(a)

ENERGY FUTURE HOLDINGS CORP.

Certificate Pursuant to Section 302

of Sarbanes - Oxley Act of 2002

I, John F. Young, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Energy Future Holdings Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 3, 2015		/s/ JOHN F. YOUNG
		Name:	John F. Young
		Title:	President and Chief Executive Officer

EX-31.B

Exhibit 31(b)

ENERGY FUTURE HOLDINGS CORP.

Certificate Pursuant to Section 302

of Sarbanes - Oxley Act of 2002

I, Paul M. Keglevic, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Energy Future Holdings Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 3, 2015		/s/ PAUL M. KEGLEVIC
		Name:	Paul M. Keglevic
		Title:	Executive Vice President, Chief Financial Officer and Co-Chief Restructuring Officer

EX-32.A

Exhibit 32(a)

ENERGY FUTURE HOLDINGS CORP.

Certificate Pursuant to Section 906

of Sarbanes - Oxley Act of 2002

CERTIFICATION OF CEO

The undersigned, John F. Young, President and Chief Executive Officer of Energy Future Holdings Corp. (the "Company"), DOES HEREBY CERTIFY that, to his knowledge:

1. The Company's Quarterly Report on Form 10-Q for the period ended September 30, 2015 (the "Report") fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

IN WITNESS WHEREOF, the undersigned has caused this instrument to be executed this 3rd day of November, 2015.

	/s/ JOHN F. YOUNG
Name:	John F. Young
Title:	President and Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to Energy Future Holdings Corp. and will be retained by Energy Future Holdings Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.B

Exhibit 32(b)

ENERGY FUTURE HOLDINGS CORP.

Certificate Pursuant to Section 906

of Sarbanes - Oxley Act of 2002

CERTIFICATION OF CFO

The undersigned, Paul M. Keglevic, Executive Vice President, Chief Financial Officer and Co-Chief Restructuring Officer of Energy Future Holdings Corp. (the "Company"), DOES HEREBY CERTIFY that, to his knowledge:

1. The Company's Quarterly Report on Form 10-Q for the period ended September 30, 2015 (the "Report") fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

IN WITNESS WHEREOF, the undersigned has caused this instrument to be executed this 3rd day of November, 2015.

	/s/ PAUL M. KEGLEVIC
Name:	Paul M. Keglevic
Title:	Executive Vice President, Chief Financial Officer and Co-Chief Restructuring Officer

A signed original of this written statement required by Section 906 has been provided to Energy Future Holdings Corp. and will be retained by Energy Future Holdings Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-95.A

Exhibit 95(a)

Mine Safety Disclosures

Safety is a top priority in all our businesses, and accordingly, it is a key component of our focus on operational excellence, our employee performance reviews and employee compensation. Our health and safety program objectives are to prevent workplace accidents and ensure that all employees return home safely and comply with all regulations.

We currently own and operate 12 surface lignite coal mines in Texas to provide fuel for our electricity generation facilities. These mining operations are regulated by the US Mine Safety and Health Administration (MSHA) under the Federal Mine Safety and Health Act of 1977, as amended (the Mine Act), as well as other regulatory agencies such as the RCT. The MSHA inspects US mines, including ours, on a regular basis and if it believes a violation of the Mine Act or any health or safety standard or other regulation has occurred, it may issue a citation or order, generally accompanied by a proposed fine or assessment. Such citations and orders can be contested and appealed to the Federal Mine Safety and Health Review Commission (FMSHRC), which often results in a reduction of the severity and amount of fines and assessments and sometimes results in dismissal. The number of citations, orders and proposed assessments vary depending on the size of the mine as well as other factors.

Disclosures related to specific mines pursuant to Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K sourced from data documented at October 2, 2015 in the MSHA Data Retrieval System for the three months ended September 30, 2015 (except pending legal actions, which are at September 30, 2015), are as follows:

Mine (a)	Section 104 S and S Citations (b)	Section 104(b) Orders	Section 104(d) Citations and Orders	Section 110(b)(2) Violations	Section 107(a) Orders	Total Dollar Value of MSHA Assessments Proposed (c)	Total Number of Mining Related Fatalities	Received Notice of Pattern of Violations Under Section 104(e)	Received Notice of Potential to Have Pattern Under Section 104(e)	Legal Actions Pending at Last Day of Period (d)	Legal Actions Initiated During Period	Legal Actions Resolved During Period
Kosse	10	—	3	—	—	1	—	—	—	—	—	7
Liberty	1	—	—	—	—	—	—	—	—	—	—	—
Three Oaks	1	—	—	—	—	—	—	—	—	2	—	—

____________

(a) Excludes mines for which there were no applicable events.

(b) Includes MSHA citations for health or safety standards that could significantly and substantially contribute to a serious injury if left unabated.

(c) Total value in thousands of dollars for proposed assessments received from MSHA for all citations and orders issued in the three months ended September 30, 2015, including but not limited to Sections 104, 107 and 110 citations and orders that are not required to be reported.

(d) Pending actions before the FMSHRC involving a coal or other mine. Both are contests of proposed penalties.

EX-99.A

Exhibit 99(a)

ENERGY FUTURE HOLDINGS CORP. AND SUBSIDIARIES, A DEBTOR-IN-POSSESSION

CONDENSED STATEMENT OF CONSOLIDATED INCOME (LOSS)

(Unaudited)

	Twelve Months Ended September 30, 2015
	(millions of dollars)
Operating revenues	$	5,512
Fuel, purchased power costs and delivery fees	(2,676		)
Net gain from commodity hedging and trading activities	355
Operating costs	(852		)
Depreciation and amortization	(933		)
Selling, general and administrative expenses	(747		)
Impairment of goodwill	(3,000		)
Impairment of long-lived assets	(6,611		)
Other income	36
Other deductions	(355		)
Interest expense and related charges	(1,760		)
Reorganization items	(370		)
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	(11,401		)
Income tax benefit	2,779
Equity in earnings of unconsolidated subsidiaries (net of tax)	351
Net loss	(8,271		)

EX-99.B

Exhibit 99(b)

TEXAS COMPETITIVE ELECTRIC HOLDINGS COMPANY LLC CONSOLIDATED,

A DEBTOR-IN-POSSESSION

CONSOLIDATED EBITDA RECONCILIATION

(millions of dollars)

	Nine Months Ended September 30,						Twelve Months Ended September 30,
	2015			2014 (d)			2015			2014 (d)
Net loss	$	(3,067	)	$	(376	)	$	(8,134	)	$	(376	)
Income tax benefit	(816		)	(163		)	(2,564		)	(163		)
Interest expense and related charges	964			541			1,287			541
Depreciation and amortization	634			552			921			552
EBITDA	$	(2,285	)	$	554		$	(8,490	)	$	554
Amortization of nuclear fuel	118			69			145			69
Purchase accounting adjustments (a)	(14		)	13			(10		)	13
Impairment and write-down of other assets	2,054			30			6,963			30
Impairment of goodwill	1,400			—			3,000			—
EBITDA amount attributable to consolidated unrestricted subsidiaries	(23		)	(10		)	(29		)	(10		)
Unrealized net (gain) loss resulting from hedging transactions	(107		)	146			(240		)	146
Noncash realized gain on termination of natural gas hedging positions	—			(117		)	—			(117		)
Transition and business optimization costs	11			7			15			7
Reorganization items (b)	152			468			204			468
Restructuring and other	13			—			10			—
Expenses incurred to upgrade or expand a generation station (c)	78			20			100			20
Additional prescribed EBITDA (d)	—			360			—			660
Expenses related to unplanned generation station outages	(2		)	37			40			37
Consolidated EBITDA	$	1,395		$	1,577		$	1,708		$	1,877

___________

(a) Purchase accounting adjustments include amortization of the intangible net asset value of retail and wholesale power sales agreements, environmental credits, coal purchase contracts, nuclear fuel contracts and power purchase agreements and the stepped up value of nuclear fuel. Also include certain credits and gains on asset sales not recognized in net income due to purchase accounting.

(b) Reorganization items includes expenses and income directly associated with the Chapter 11 Cases.

(c) Expenses incurred to upgrade or expand a generation station represent noncapital outage costs.

(d) In accordance with the TCEH DIP Facility agreement, nine and twelve months ended September 30, 2014 results are comprised of May through September 2014 actual results plus an additional prescribed consolidated EBITDA amount for fiscal quarters ended December 31, 2013 and March 31, 2014 and April 2014.

XML

Variable Interest Entities (Oncor Holdings and Distributions from Oncor Holdings) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated subsidiary	$ 6,131		$ 6,058
Distributions of earnings from unconsolidated subsidiaries	$ 206	$ 128
Oncor [Member] | Energy Future Intermediate Holding CO LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership (as a percent)	80.00%
Oncor [Member] | Oncor Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of equity method investment consolidated revenues related to services provided to entity (as a percent)	25.00%	26.00%
Oncor Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Distributions of earnings from unconsolidated subsidiaries	$ 206	$ 128
Eligible distributions after accounting for regulatory restrictions	$ 111
PUCT required regulatory capitalization, ratio of debt to equity, debt (as a percent)	60.00%
PUCT required regulatory capitalization, ratio of debt to equity, equity (as a percent)	40.00%
Regulatory capitalization, ratio of debt to equity, debt (as a percent)	59.30%
Regulatory capitalization, ratio of debt to equity, equity (as a percent)	40.70%

XML

Liabilities Subject to Compromise (Liabilities Subject to Compromise) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Liabilities Subject to Compromise [Abstract]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	$ 34,679	$ 35,124
Accrued interest on notes, loans and other debt	749	804
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements	1,235	1,235
Trade accounts payable and other expected allowed claims	261	269
Total liabilities subject to compromise	$ 36,924	$ 37,432

XML

Interest Expense and Related Charges (Interest Expense and Related Charges) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014
Interest Expense and Related Charges [Line Items]
Interest paid/accrued on debtor-in-possession financing		$ 74	$ 74	$ 221		$ 88
Adequate protection amounts paid/accrued	[1]	311	308	919		519
Interest paid/accrued on pre-petition debt		0	3	243	[2]	1,152	[2]
Interest expense on pre-petition toggle notes payable in additional principal		0	0	0		65
Noncash realized loss on termination of interest rate swaps		0	0	0		1,237	[3]
Unrealized mark-to-market net gain on interest rate swaps		0	0	0		(1,303)
Amortization of debt issuance, amendment and extension costs and discounts		0	0	0		67
Capitalized interest		(2)	(3)	(8)		(14)
Other		0	0	0		5
Total interest expense and related charges		383	$ 382	1,375		1,816
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		34,679		34,679				$ 35,124
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements		1,235		1,235				1,235
Energy Future Intermediate Holding CO LLC [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,401		3,401				3,846
Texas Competitive Electric Holdings Company LLC [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		31,474		31,474				31,474
EFH Corp. [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		529		529				529
Interest Rate Swap [Member]
Interest Expense and Related Charges [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax						194
Interest Rate Swap [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Interest Expense and Related Charges [Line Items]
Noncash realized loss on termination of interest rate swaps						(1,225)
Gain (Loss) On Derivative Instruments, Net, Pretax, Representing Matured Positions Not Settled In Cash During the Period						127
Interest Rate Swap [Member] | EFH Corp. [Member]
Interest Expense and Related Charges [Line Items]
Noncash realized loss on termination of interest rate swaps						$ (12)
Senior Secured Debt [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,571		1,571
Line of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		22,616		22,616
Fixed Senior Secured Second Lien 11% Notes and Fixed Senior Secured Second Lien 11.75% Notes [Member] [Member] | Senior Secured Debt [Member] | Energy Future Intermediate Holding CO LLC [Member]
Interest Expense and Related Charges [Line Items]
Interest paid/accrued on pre-petition debt				235
11.5% Fixed Senior Secured Notes due October 1, 2020 [Member] | Senior Secured Debt [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Interest Expense and Related Charges [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,750		$ 1,750				$ 1,750
Adequate Protection Interest Expense [Member]
Interest Expense and Related Charges [Line Items]
Adequate Protection Paid Or Accrued, Weighted Average Interest Rate		4.68%		4.68%
Debt Instrument, Basis Spread on Variable Rate				4.50%

[1] Post-petition period only.

[2] For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps

[3] Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

XML

Commodity And Other Derivative Contractual Assets And Liabilities (Derivative Volumes) (Details) lb in Thousands, gal in Millions, T in Millions, MMBTU in Millions		Sep. 30, 2015 T MMBTU GWh gal lb	Dec. 31, 2014 T MMBTU GWh gal lb
Natural Gas Derivative [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume | MMBTU	[1]	1,821	1,687
Electricity (in GWh) [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume		43,425	22,820
Congestion Revenue RIghts (in GWh) [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume	[2]	94,195	89,484
Coal (in tons) [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume | T		8	10
Fuel oil (in gallons) [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume | gal		42	36
Uranium (in pounds) [Member]
Derivatives, Fair Value [Line Items]
Nonmonetary Notional Volume | lb		126	150

[1] Represents gross notional forward sales, purchases and options transactions, locational basis swaps and other natural gas transactions.

[2] Represents gross forward purchases associated with instruments used to hedge electricity price differences between settlement points within ERCOT.

XML

Liabilities Subject to Compromise (Pre-Petition Notes, Loans and Other Debt Reported as Liabilities Subject to Compromise) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 34,679	$ 35,124
Long-term debt due currently		36	39
Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,664	1,664
Deferred Debt Issuance And Extension Costs [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		733	733
EFH Corp. [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		529	529
EFH Corp. [Member] | Senior Secured Debt [Member] | 9.75% Fixed Senior Secured First Lien Notes due October 15, 2019 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 2	2
Debt Instrument, Interest Rate, Stated Percentage		9.75%
EFH Corp. [Member] | Senior Secured Debt [Member] | 10% Fixed Senior Secured Notes due January 15, 2020 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 3	3
Debt Instrument, Interest Rate, Stated Percentage		10.00%
EFH Corp. [Member] | Fixed Senior Notes [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 60
EFH Corp. [Member] | Fixed Senior Notes [Member] | 10.875% Fixed Senior Notes due November 1, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 33	33
Debt Instrument, Interest Rate, Stated Percentage		10.875%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 11.25 / 12.00% Senior Toggle Notes due November 1, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 27	27
EFH Corp. [Member] | Fixed Senior Notes [Member] | 11.25 / 12.00% Senior Toggle Notes due November 1, 2017 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		11.25%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 11.25 / 12.00% Senior Toggle Notes due November 1, 2017 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		12.00%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 5.55% Fixed Series P Senior Notes due November 15, 2014 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 90	90
Debt Instrument, Interest Rate, Stated Percentage	[1]	5.55%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 5.55% Fixed Series P Senior Notes due November 15, 2014 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 281	281
EFH Corp. [Member] | Fixed Senior Notes [Member] | 6.50% Fixed Series Q Senior Notes due November 15, 2024 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 201	201
Debt Instrument, Interest Rate, Stated Percentage	[1]	6.50%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 6.50% Fixed Series Q Senior Notes due November 15, 2024 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 545	545
EFH Corp. [Member] | Fixed Senior Notes [Member] | 6.55% Fixed Series R Senior Notes due November 15, 2034 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 291	291
Debt Instrument, Interest Rate, Stated Percentage	[1]	6.55%
EFH Corp. [Member] | Fixed Senior Notes [Member] | 6.55% Fixed Series R Senior Notes due November 15, 2034 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 456	456
EFH Corp. [Member] | Unamortized Fair Value Discount [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[2]	(118)	(118)
Energy Future Intermediate Holding CO LLC [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,401	3,846
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 9.75% Fixed Senior Secured First Lien Notes due October 15, 2019 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 2	2
Debt Instrument, Interest Rate, Stated Percentage		9.75%
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11% Fixed Senior Secured Second Lien Notes due October 1, 2021 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 322	406
Debt Instrument, Interest Rate, Stated Percentage		11.00%
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,389	1,750
Debt Instrument, Interest Rate, Stated Percentage		11.75%
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 6.875% Senior Secured First Lien Notes due August 15, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 0
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 10% Fixed Senior Secured First Lien Notes due December 1, 2020 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		0
Energy Future Intermediate Holding CO LLC [Member] | Fixed Senior Notes [Member] | 11.25%/ 12.25% Senior Toggle Notes due December 1, 2018 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,566	1,566
Energy Future Intermediate Holding CO LLC [Member] | Fixed Senior Notes [Member] | 11.25%/ 12.25% Senior Toggle Notes due December 1, 2018 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		11.25%
Energy Future Intermediate Holding CO LLC [Member] | Fixed Senior Notes [Member] | 11.25%/ 12.25% Senior Toggle Notes due December 1, 2018 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		12.25%
Energy Future Intermediate Holding CO LLC [Member] | Unamortized Premium [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 243	243
Energy Future Intermediate Holding CO LLC [Member] | Unamortized Discount [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		(121)	(121)
Energy Future Competitive Holdings Company [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		8	8
Debt Instrument, Unamortized premium (discount) fair value adjustments recorded under purchase accounting	[3]	(2)	(3)
Energy Future Competitive Holdings Company [Member] | Unamortized Fair Value Discount [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[2]	(1)	(1)
Energy Future Competitive Holdings Company [Member] | Junior Subordinated Debentures [Member] | Floating Rate Junior Subordinated Debentures, Series D due January 30, 2037 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1	1
Energy Future Competitive Holdings Company [Member] | Junior Subordinated Debentures [Member] | 8.175% Fixed Junior Subordinated Debentures, Series E due January 30, 2037 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 8	8
Debt Instrument, Interest Rate, Stated Percentage		8.175%
Texas Competitive Electric Holdings Company LLC [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 31,474	31,474
Other Long-term Debt		2	2
Debt Instrument, Unamortized Discount		1	2
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,571
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member] | 11.5% Fixed Senior Secured Notes due October 1, 2020 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,750	1,750
Debt Instrument, Interest Rate, Stated Percentage		11.50%
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member] | 15% Fixed Senior Secured Second Lien Notes due April 1, 2021 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 336	336
Debt Instrument, Interest Rate, Stated Percentage		15.00%
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member] | 15% Fixed Senior Secured Second Lien Notes due April 1, 2021, Series B [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,235	1,235
Debt Instrument, Interest Rate, Stated Percentage		15.00%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 4,874
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.25% Fixed Senior Notes due November 1, 2015 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 1,833	1,833
Debt Instrument, Interest Rate, Stated Percentage	[1]	10.25%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.25% Fixed Senior Notes due November 1, 2015 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 213	213
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.25% Fixed Senior Notes due November 1, 2015, Series B [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 1,292	1,292
Debt Instrument, Interest Rate, Stated Percentage	[1]	10.25%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.25% Fixed Senior Notes due November 1, 2015, Series B [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 150	150
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.50 / 11.25% Senior Toggle Notes due November 1, 2016 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,749	1,749
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.50 / 11.25% Senior Toggle Notes due November 1, 2016 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		10.50%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed Senior Notes [Member] | 10.50 / 11.25% Senior Toggle Notes due November 1, 2016 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective interest rate (as a percent)		11.25%
Texas Competitive Electric Holdings Company LLC [Member] | Unamortized Discount [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ (91)	(91)
Texas Competitive Electric Holdings Company LLC [Member] | Unamortized Fair Value Discount [Member] | Pollution control revenue bonds [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[2]	(103)	(103)
Texas Competitive Electric Holdings Company LLC [Member] | Term loan Facilities [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		22,616
Texas Competitive Electric Holdings Company LLC [Member] | Term loan Facilities [Member] | Term Loan Facilities maturing October 10, 2014 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,809	3,809
Texas Competitive Electric Holdings Company LLC [Member] | Term loan Facilities [Member] | Term Loan Facilities maturing October 10, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	15,691	15,691
Texas Competitive Electric Holdings Company LLC [Member] | Term loan Facilities [Member] | Term Loan Facilities maturing October 10, 2017 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		19	19
Texas Competitive Electric Holdings Company LLC [Member] | Letter of Credit [Member] | Letter of Credit Facility maturing October 2014 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		42	42
Texas Competitive Electric Holdings Company LLC [Member] | Letter of Credit [Member] | Letter of Credit Facility maturing October 10, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,020	1,020
Texas Competitive Electric Holdings Company LLC [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility maturing October 2016 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		2,054	2,054
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 5.40% Fixed Series 1994A due May 1, 2029 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 39	39
Debt Instrument, Interest Rate, Stated Percentage		5.40%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 7.70% Fixed Series 1999A due April 1, 2033 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 111	111
Debt Instrument, Interest Rate, Stated Percentage		7.70%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 7.70% Fixed Series 1999C due March 1, 2032 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 50	50
Debt Instrument, Interest Rate, Stated Percentage		7.70%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 8.25% Fixed Series 2001A due October 1, 2030 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 71	71
Debt Instrument, Interest Rate, Stated Percentage		8.25%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 8.25% Fixed Series 2001D-1 due May 1, 2033 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 171	171
Debt Instrument, Interest Rate, Stated Percentage		8.25%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 6.30% Fixed Series 2003B due July 1, 2032 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 39	39
Debt Instrument, Interest Rate, Stated Percentage		6.30%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 6.75% Fixed Series 2003C due October 1, 2038 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 52	52
Debt Instrument, Interest Rate, Stated Percentage		6.75%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 5.40% Fixed Series 2003D due October 1, 2029 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 31	31
Debt Instrument, Interest Rate, Stated Percentage		5.40%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 5.00% Fixed Series 2006 due March 1, 2041 [Member] | Brazos River Authority [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 100	100
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 6.45% Fixed Series 2000A due June 1, 2021 [Member] | Sabine River Authority of Texas [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 51	51
Debt Instrument, Interest Rate, Stated Percentage		6.45%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 5.20% Fixed Series 2001C due May 1, 2028 [Member] | Sabine River Authority of Texas [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 70	70
Debt Instrument, Interest Rate, Stated Percentage		5.20%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 5.80% Fixed Series 2003A due July 1, 2022 [Member] | Sabine River Authority of Texas [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 12	12
Debt Instrument, Interest Rate, Stated Percentage		5.80%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 6.15% Fixed Series 2003B due August 1, 2022 [Member] | Sabine River Authority of Texas [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 45	45
Debt Instrument, Interest Rate, Stated Percentage		6.15%
Texas Competitive Electric Holdings Company LLC [Member] | Fixed/Floating Series [Member] | 6.25% Fixed Series 200A due May 1, 2028 [Member] | Trinity River Authority of Texas [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 14	14
Debt Instrument, Interest Rate, Stated Percentage		6.25%
Texas Competitive Electric Holdings Company LLC [Member] | Other Debt Obligations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1	$ 1

[1] Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation. September 30, 2015 December 31, 2014EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014$281 $281EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024545 545EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034456 456TCEH Floating Rate Term Loan Facilities due October 10, 201719 19TCEH 10.25% Fixed Senior Notes due November 1, 2015213 213TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B150 150Total$1,664 $1,664

[2] Amount represents unamortized fair value adjustments recorded under purchase accounting.

[3] Amount represents unamortized fair value adjustments recorded under purchase accounting.

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Supplementary Financial Information (Inventories by Major Category and Other Investments) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Inventories by Major Category
Materials and supplies	$ 215	$ 214
Fuel stock	144	215
Natural gas in storage	29	39
Total inventories	388	468
Other Investments
Nuclear plant decommissioning trust	874	893
Assets related to employee benefit plans, including employee savings programs, net of distributions	60	61
Land	36	37
Miscellaneous other	4	4
Total other investments	$ 974	$ 995

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Income Taxes (Accounting for Uncertainty in Income Taxes) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Contingency [Line Items]
Income tax benefit		$ (452)	$ (72)	$ (990)	$ (830)
Tax Year 2007 [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities					58
Income Tax Examination, Reclassification To Accumulated Deferred Income Tax Liability					19
Income tax benefit					39
Tax Year 2007 [Member] | Corporate and Other [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Income tax benefit					24
Tax Year 2007 [Member] | Competitive Electric [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Income tax benefit					$ 15
Tax Years 2008 and 2009 [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	$ 23
Income Tax Examination, Reclassification To Accumulated Deferred Income Tax Liability	20
Income Tax Payments Assessed But Not Paid	15
Tax Years 2008 and 2009 [Member] | Competitive Electric [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Income tax benefit	$ 3

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis consisted of the following:

September 30, 2015
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	328	$	45	$	34	$	16	$	423
Nuclear decommissioning trust – equity securities (c)	355		205		—		—		560
Nuclear decommissioning trust – debt securities (c)	—		314		—		—		314
Total assets	$	683	$	564	$	34	$	16	$	1,297
Liabilities:
Commodity contracts	$	108	$	33	$	7	$	16	$	164
Total liabilities	$	108	$	33	$	7	$	16	$	164

December 31, 2014
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	402	$	46	$	49	$	—	$	497
Nuclear decommissioning trust – equity securities (c)	375		217		—		—		592
Nuclear decommissioning trust – debt securities (c)	—		301		—		—		301
Total assets	$	777	$	564	$	49	$	—	$	1,390
Liabilities:
Commodity contracts	$	278	$	25	$	14	$	—	$	317
Total liabilities	$	278	$	25	$	14	$	—	$	317

____________

(a) See table below for description of Level 3 assets and liabilities.

(b) Fair values are determined on a contract basis, but certain contracts result in a current asset and a noncurrent liability, or vice versa, as presented in the condensed consolidated balance sheets.

(c) The nuclear decommissioning trust investment is included in the other investments line in the condensed consolidated balance sheets. See Note 17.

Schedule of fair value of the Level 3 assets and liabilities by major contract type (all related to commodity contracts) and the significant unobservable inputs used in the valuations

The following tables present the fair value of the Level 3 assets and liabilities by major contract type and the significant unobservable inputs used in the valuations at September 30, 2015 and December 31, 2014:

September 30, 2015
	Fair Value
Contract Type (a)	Assets		Liabilities			Total		Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	2	$	(1	)	$	1	Valuation Model	Illiquid pricing locations (c)	$25 to $40/ MWh
									Hourly price curve shape (d)	$15 to $55/ MWh
Electricity congestion revenue rights	27		(3		)	24		Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $10/MWh
Other (i)	5		(3		)	2
Total	$	34	$	(7	)	$	27

December 31, 2014
	Fair Value
Contract Type (a)	Assets		Liabilities			Total			Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	4	$	(5	)	$	(1	)	Valuation Model	Illiquid pricing locations (c)	$30 to $50/ MWh
										Hourly price curve shape (d)	$20 to $70/ MWh
Electricity congestion revenue rights	38		(4		)	34			Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $20/MWh
Coal purchases	—		(4		)	(4		)	Market Approach (e)	Illiquid price variances between mines (g)	$0 to $1/ton
										Illiquid price variances between heat content (h)	$0 to $1/ton
Other (i)	7		(1		)	6
Total	$	49	$	(14	)	$	35

____________

(a) Electricity purchase and sales contracts include hedging positions in the ERCOT regions, as well as power contracts, the valuations of which include unobservable inputs related to the hourly shaping of the price curve. Electricity congestion revenue rights contracts consist of forward purchase contracts (swaps and options) used to hedge electricity price differences between settlement points within ERCOT. Coal purchase contracts relate to western (Powder River Basin) coal.

(b) The range of the inputs may be influenced by factors such as time of day, delivery period, season and location.

(c) Based on the historical range of forward average monthly ERCOT hub and load zone prices.

(d) Based on the historical range of forward average hourly ERCOT North Hub prices.

(e) While we use the market approach, there is either insufficient market data to consider the valuation liquid or the significance of credit reserves or non-performance risk adjustments results in a Level 3 designation.

(f) Based on the historical price differences between settlement points within the ERCOT hubs and load zones.

(g) Based on the historical range of price variances between mine locations.

(h) Based on historical ranges of forward average prices between different heat contents (potential energy in coal for a given mass).

(i) Other includes contracts for ancillary services, natural gas, power options, diesel options and coal options.

Schedule of changes in fair value of the Level 3 assets and liabilities (all related to commodity contracts)

The following table presents the changes in fair value of the Level 3 assets and liabilities for the three and nine months ended September 30, 2015 and 2014.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Net asset (liability) balance at beginning of period	$	44		$	45		$	35		$	(973	)
Total unrealized valuation gains (losses)	(1		)	(3		)	13			(97		)
Purchases, issuances and settlements (a):
Purchases	5			10			37			39
Issuances	(2		)	(1		)	(7		)	(3		)
Settlements	(19		)	(21		)	(44		)	1,063
Transfers into Level 3 (b)	—			—			—			—
Transfers out of Level 3 (b)	—			(1		)	(7		)	—
Net change (c)	(17		)	(16		)	(8		)	1,002
Net asset balance at end of period	$	27		$	29		$	27		$	29
Unrealized valuation gains relating to instruments held at end of period	$	1		$	—		$	1		$	2

____________

(a) Settlements reflect reversals of unrealized mark-to-market valuations previously recognized in net income. Purchases and issuances reflect option premiums paid or received. Settlement amounts in the nine months ended September 30, 2014 reflect termination of the TCEH interest rate swaps and include the reversal of a nonperformance risk adjustment as discussed in Note 14.

(b) Includes transfers due to changes in the observability of significant inputs. Transfers in and out occur at the end of each quarter, which is when the assessments are performed. All Level 3 transfers during the periods presented are in and out of Level 2.

(c) Substantially all changes in values of commodity contracts are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities. Activity excludes changes in fair value in the month the positions settled as well as amounts related to positions entered into and settled in the same quarter.

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Supplementary Financial Information (Nuclear Decommissioning Trust) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Schedule of Decommissioning Fund Investments [Line Items]
Cost	[1]	$ 593		$ 593		$ 564
Unrealized gain		290		290		333
Unrealized loss		(9)		(9)		(4)
Fair market value		874		874		893
Realized gains		1	$ 1	2	$ 2
Realized losses		(2)	0	(3)	(1)
Proceeds from sales of securities		242	165	315	250
Investments in securities		(247)	$ (170)	(328)	$ (263)
Debt securities [Member]
Schedule of Schedule of Decommissioning Fund Investments [Line Items]
Cost	[1],[2]	304		304		288
Unrealized gain	[2]	11		11		13
Unrealized loss	[2]	(1)		(1)		0
Fair market value	[2]	$ 314		$ 314		$ 301
Debt, Weighted Average Interest Rate		3.58%		3.58%		4.35%
Decommissioning Fund Investments, Debt securities, average maturity				7 years		6 years
Decommissioning Fund Investments, debt maturities, one through five years, fair value		$ 96		$ 96
Decommissioning Fund Investments, debt maturities, five through ten years, fair value		85		85
Decommissioning Fund Investments, debt maturities, after ten years, fair value		133		133
Equity securities [Member]
Schedule of Schedule of Decommissioning Fund Investments [Line Items]
Cost	[1],[3]	289		289		$ 276
Unrealized gain	[3]	279		279		320
Unrealized loss	[3]	(8)		(8)		(4)
Fair market value	[3]	$ 560		$ 560		$ 592

[1] Includes realized gains and losses on securities sold.

[2] The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's Investors Services, Inc. The debt securities are heavily weighted with municipal bonds. The debt securities had an average coupon rate of 3.58% and 4.35% at September 30, 2015 and December 31, 2014, respectively, and an average maturity of 7 years and 6 years at September 30, 2015 and December 31, 2014, respectively.

[3] The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index.

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Related Party Transactions (Narrrative) (Details) $ in Millions	1 Months Ended	3 Months Ended				9 Months Ended
	Apr. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) Rating-Agencies-Downgrades	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) Rating-Agencies-Downgrades	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 34,679				$ 34,679		$ 35,124
Oncor [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party		6			$ 8	16	$ 23
Related party tax expense, due from affiliates, current						63	163
Accounts receivable, related parties, noncurrent		47				47		47
Oncor Holdings [Member]
Related Party Transaction [Line Items]
Related party tax expense, due from affiliates, current						20	17
Sponsor Group [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party		10			10	30	30
Related Party Transaction, Selling, General and Administrative Cost Paid in Transactions With Related Party		0			0	0	0
Texas Competitive Electric Holdings Company LLC [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party		52			47	151	147
Related party transaction, amounts of transaction				$ 15
Related Party Transaction, Sale of Assets To Related Party	$ 24		$ 12		7
EFH Corp. [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		529				529		529
EFH Corp. [Member] | Senior Notes [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		60				60
EFH Corp. [Member] | 9.75% Fixed Senior Secured First Lien Notes due October 15, 2019 [Member] | Senior Secured Debt [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		2				2		2
EFH Corp. [Member] | 10.875% Fixed Senior Notes due November 1, 2017 [Member] | Senior Notes [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		33				33		33
EFH Corp. [Member] | 10% Fixed Senior Secured Notes due January 15, 2020 [Member] | Senior Secured Debt [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3				3		3
Energy Future Intermediate Holding CO LLC [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,401				3,401		3,846
Energy Future Intermediate Holding CO LLC [Member] | 10% Fixed Senior Secured First Lien Notes due December 1, 2020 [Member] | Senior Secured Debt [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		0				0
Energy Future Intermediate Holding CO LLC [Member] | 9.75% Fixed Senior Secured First Lien Notes due October 15, 2019 [Member] | Senior Secured Debt [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		2				2		2
Texas Competitive Electric Holdings Company LLC [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		31,474				31,474		31,474
Texas Competitive Electric Holdings Company LLC [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		279			281	739	746
Due to Affiliate		156				156		118
Delivery fee surcharge remitted to related party		5			5	13	$ 13
Event of credit rating downgrade, letter of credit required to be posted to secure payment obligations		$ 170				$ 170
Event of credit rating downgrade, minimum number of rating agencies downgrade below investment grade (in credit agencies downgrades) | Rating-Agencies-Downgrades		2				2
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,571				$ 1,571
Texas Competitive Electric Holdings Company LLC [Member] | Senior Notes [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		4,874				4,874
Texas Competitive Electric Holdings Company LLC [Member] | Line of Credit [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		22,616				22,616
Texas Competitive Electric Holdings Company LLC [Member] | Term Loan Facilities maturing October 10, 2014 [Member] | Line of Credit [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,809				3,809		3,809
Debt held by related party [Member] | Senior Notes [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		303				303			$ 303
Debt held by related party [Member] | Energy Future Intermediate Holding CO LLC [Member] | Senior Notes [Member] | EFH Corp. [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,282				1,282			1,282
Debt held by related party [Member] | Energy Future Intermediate Holding CO LLC [Member] | Senior Notes [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		79				79			$ 79
Decommisioning liablity [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Due to affiliate, noncurrent		372				372		479
Payable Attributable To Income Taxes [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Due to affiliate, noncurrent		65				65		64
Due to Affiliate, Current								120
Due from affiliate, current		29				29
Payable Attributable To Income Taxes [Member] | Oncor Holdings [Member]
Related Party Transaction [Line Items]
Due to Affiliate, Current								120
Due from affiliate, current		31				31
Due from Affiliate, Noncurrent		2				2
Collateral posted [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Cash and letters of credit posted as collateral		9				9		9
State and Local Jurisdiction [Member] | Receivable Attributable to Income Taxes [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Due from affiliate, current		14				14		24
Internal Revenue Service (IRS) [Member] | Payable Attributable To Income Taxes [Member] | Oncor [Member]
Related Party Transaction [Line Items]
Due to Affiliate, Current								144
Due from affiliate, current		15				15
Pension Plan, Defined Benefit [Member]
Related Party Transaction [Line Items]
Defined Benefit Plan Contributions By Employer Excluding Affiliated Supplemental Plan					84
Pension Plan, Defined Benefit [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Related Party Transaction [Line Items]
Defined Benefit Plan, Contributions by Employer					20
Oncor [Member] | Pension Plan, Defined Benefit [Member] | Majority-Owned Subsidiary, Unconsolidated [Member]
Related Party Transaction [Line Items]
Defined Benefit Plan, Contributions by Employer					$ 64
Consolidation, Eliminations [Member]
Related Party Transaction [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,664				$ 1,664		$ 1,664

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Liabilities Subject to Compromise (TCEH Letter of Credit Facility Activity) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2014	Mar. 31, 2014	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Restricted cash			$ 506	$ 901
Texas Competitive Electric Holdings Company LLC [Member] | Letter of Credit [Member] | Letter of Credit Facility maturing October 10, 2017 [Member]
Debt Instrument [Line Items]
Restricted cash			506
Restricted Cash, Amount supported in letters of credit outstanding			0
Letters Of Credit Issued To Affiliated Party		$ 157
Letters Of Credit Drawn By Affiliated Party				150
Letters of Credit Issued To Affiliated Party Remaining At Expiration Date	$ 7
Letters of Credit Drawn By Counterparties			45	$ 245
Letters of Credit Drawn By Executive Officers To Satisfy Payments Related To Long-Term Incentive Awards			$ 20

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Supplementary Financial Information (Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Restricted Cash and Investments, Current	$ 368	$ 6
Restricted Cash and Investments, Noncurrent	506	901
Other Restricted Cash [Member]
Restricted Cash and Investments, Current	4	6
Restricted Cash and Investments, Noncurrent	0	0
Texas Competitive Electric Holdings Company LLC [Member] | Amount Related To Texas Competitive Electric Company LLC Debtor-In-Possession Facility [Member]
Restricted Cash and Investments, Current	364	0
Restricted Cash and Investments, Noncurrent	0	350
Texas Competitive Electric Holdings Company LLC [Member] | Amounts Related to TCEH's Letter of Credit Facility [Member]
Restricted Cash and Investments, Current	0	0
Restricted Cash and Investments, Noncurrent	$ 506	$ 551

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Supplementary Financial Information (Asset Retirement and Mining Reclamation Obligations) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance, Liability		$ 614
Additions:
Accretion		38
Adjustment for new cost estimate	[1]	70
Incremental reclamation costs	[2]	59
Reductions:
Payments		(45)
Ending balance, Liability		614	$ 736	$ 614
Less amounts due currently			(65)
Noncurrent liability at end of period			671	560
Nuclear Plant Decommissioning [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance, Liability		413
Additions:
Accretion		19
Adjustment for new cost estimate	[1]	70
Incremental reclamation costs		0
Reductions:
Payments		0
Ending balance, Liability		413	502	413
Less amounts due currently			0
Noncurrent liability at end of period			502
Mining Land Reclamation [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance, Liability		165
Additions:
Accretion		15
Adjustment for new cost estimate		0
Incremental reclamation costs		0
Reductions:
Payments		(44)
Ending balance, Liability		165	136	165
Less amounts due currently			(65)
Noncurrent liability at end of period			71
Other Asset Retirement Obligations [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance, Liability		36
Additions:
Accretion		4
Adjustment for new cost estimate		0
Incremental reclamation costs	[2]	59
Reductions:
Payments		(1)
Ending balance, Liability		$ 36	98	$ 36
Less amounts due currently			0
Noncurrent liability at end of period			$ 98

[1] The adjustment for nuclear plant decommissioning resulted from a new cost estimate completed in the second quarter of 2015. In accordance with regulatory requirements, a new cost estimate is completed every five years. The increase in the liability was driven by increased security and fuel-handling costs.

[2] The adjustment for other asset retirement obligations resulted from the effect on our estimated retirement obligation related to coal combustion residual facilities at our lignite/coal fueled generation facilities that arose from the CCR rule discussed above.

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Supplementary Financial Information (Trade Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Supplementary Financial Information [Abstract]
Wholesale and retail trade accounts receivable			$ 786	$ 604
Allowance for uncollectible accounts	$ (15)	$ (14)	(16)	(15)
Trade accounts receivable — net			770	589
Unbilled Receivables, Current			$ 287	$ 239
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for uncollectible accounts receivable at beginning of period	15	14
Increase for bad debt expense	29	30
Decrease for account write-offs	(28)	(27)
Allowance for uncollectible accounts receivable at end of period	$ 16	$ 17

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Commodity And Other Derivative Contractual Assets And Liabilities (Credit Risk-Related Contingent Features of Derivatives) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Cross-default credit derivative [Member]
Credit Derivatives [Line Items]
Assets Needed for Immediate Settlement, Aggregate Fair Value	$ 0	$ 0

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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2015

Consolidation Of Variable Interest Entities [Abstract]

Schedule of condensed statements of consolidated income of Oncor Holdings and its subsidiaries

Condensed statements of consolidated income of Oncor Holdings and its subsidiaries for the three and nine months ended September 30, 2015 and 2014 are presented below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues	$	1,072		$	1,054		$	2,957		$	2,883
Operation and maintenance expenses	(387		)	(376		)	(1,134		)	(1,074		)
Depreciation and amortization	(217		)	(218		)	(653		)	(638		)
Taxes other than income taxes	(116		)	(115		)	(336		)	(330		)
Other income	1			3			5			10
Other deductions	(9		)	(4		)	(21		)	(11		)
Interest income	(1		)	1			(1		)	3
Interest expense and related charges	(84		)	(89		)	(250		)	(266		)
Income before income taxes	259			256			567			577
Income tax expense	(99		)	(101		)	(217		)	(230		)
Net income	160			155			350			347
Net income attributable to noncontrolling interests	(33		)	(32		)	(72		)	(71		)
Net income attributable to Oncor Holdings	$	127		$	123		$	278		$	276

Schedule of assets and liabilities of Oncor Holdings

Assets and liabilities of Oncor Holdings at September 30, 2015 and December 31, 2014 are presented below:

	September 30, 2015		December 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	18	$	5
Restricted cash	62		56
Trade accounts receivable — net	444		407
Trade accounts and other receivables from affiliates	156		118
Income taxes receivable from EFH Corp.	—		144
Inventories	80		73
Accumulated deferred income taxes	7		10
Prepayments and other current assets	93		91
Total current assets	860		904
Restricted cash	—		16
Other investments	95		97
Property, plant and equipment — net	12,908		12,463
Goodwill	4,064		4,064
Regulatory assets — net	1,177		1,429
Other noncurrent assets	71		67
Total assets	$	19,175	$	19,040
LIABILITIES
Current liabilities:
Short-term borrowings	$	708	$	711
Long-term debt due currently	86		639
Trade accounts payable — nonaffiliates	164		202
Income taxes payable to EFH Corp.	31		24
Accrued taxes other than income	150		174
Accrued interest	67		93
Other current liabilities	149		156
Total current liabilities	1,355		1,999
Accumulated deferred income taxes	1,918		1,978
Long-term debt, less amounts due currently	5,681		4,997
Other noncurrent liabilities and deferred credits	2,270		2,245
Total liabilities	$	11,224	$	11,219

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Reorganization Items (Reorganization Items) (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reorganizations [Abstract]
Expenses related to legal advisory and representation services	$ 46	$ 38	$ 79	$ 148
Expenses related to other professional consulting and advisory services	22	22	72	69
Contract rejection claims	(2)	0	0	26	$ 0
Fees associated with repayment of EFIH Second Lien Notes	0	0	0	28
Liability adjustment arising from termination of interest rate swaps	0	0	278	0	278
Fees associated with completion of TCEH and EFIH DIP Facilities	0	(5)	180	0	180
Loss on exchange and settlement of EFIH First Lien Notes	0	0	108	0	108
Other	2	0	3	4
Total reorganization items	$ 68	$ 55	$ 720	$ 275	$ 720

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Goodwill And Identifiable Intangible Assets (Identifiable Intangible Assets Reported in the Balance Sheet) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Dec. 31, 2014
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount	$ 877			$ 877			$ 1,285
Accumulated Amortization	675			675			932
Total identifiable intangible assets subject to amortization, net	202			202			353
Total identifiable intangible assets	1,163			1,163			1,315
Retail trade name (not subject to amortization) [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount, Unamortized Intangibles	955			955			955
Mineral interests (not currently subject to amortization) [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount, Unamortized Intangibles	6			6			7
Retail customer relationship [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount	463			463			463
Accumulated Amortization	438			438			425
Total identifiable intangible assets subject to amortization, net	25			25			38
Favorable purchase and sales contracts [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	0		$ 0	8	[1]	$ 0
Capitalized in-service software [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount	356			356			362
Accumulated Amortization	210			210			216
Total identifiable intangible assets subject to amortization, net	146			146			146
Environmental allowances and credits [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	4	[1]	0	55	[1]	0
Mine Development [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	19	[1]	$ 0	19	[1]	$ 0
Other Identifiable Intangible Assets [Member]
Finite-Lived and Indefinite-Lived Intangible [Line Items]
Gross Carrying Amount	58	[2]		58	[2]		460
Accumulated Amortization	27	[2]		27	[2]		291
Total identifiable intangible assets subject to amortization, net	$ 31	[2]		$ 31	[2]		$ 169

[1] Reported in Competitive Electric segment.

[2] See discussion below regarding impairment charges recorded in the three and nine months ended September 30, 2015 related to other identifiable intangible assets.

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Supplementary Financial Information (Other Income and Deductions) (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Other income:
Office space rental income	[1]	$ 3		$ 3		$ 8		$ 8
Sale of land		0		2	[2]	6	[2]	2	[2]
Mineral rights royalty income	[2]	1		1		3		3
Contract settlements		2	[2]	0		2	[2]	0
All other		2		2		8		9
Total other income		8		8		27		22
Other deductions:
All other		3		5		4		7
Total other deductions		26		5		86		7
Favorable purchase and sales contracts [Member]
Other deductions:
Impairment of Intangible Assets (Excluding Goodwill)		0		0		8	[2]	0
Environmental allowances and credits [Member]
Other deductions:
Impairment of Intangible Assets (Excluding Goodwill)		4	[2]	0		55	[2]	0
Mine Development [Member]
Other deductions:
Impairment of Intangible Assets (Excluding Goodwill)		$ 19	[2]	$ 0		$ 19	[2]	$ 0

[1] Reported in Corporate and Other.

[2] Reported in Competitive Electric segment.

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Business And Significant Accounting Policies (Details) - Reportable_segment	9 Months Ended
	Sep. 30, 2015	Nov. 30, 2008
Business and Significant Accounting Policies
Number of reportable segments (in reportable segments)	2
Equity method investment, Maximum ownership percentage for accounting treatment (as a percent)	50.00%
Oncor [Member]
Business and Significant Accounting Policies
Sale of equity ownership interest (as a percent)		19.75%
Energy Future Intermediate Holding CO LLC [Member] | Oncor [Member]
Business and Significant Accounting Policies
Equity method investment, ownership (as a percent)	80.00%

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Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise (EFIH First-Lien Debtor-In-Possession Facility) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Interest paid/accrued on pre-petition debt		$ 0	$ 3	$ 243	[1]	$ 1,152	[1]
Cash and cash equivalents		2,501	$ 3,606	2,501		$ 3,606		$ 3,428	$ 1,217
Energy Future Intermediate Holding CO LLC [Member]
Line of Credit Facility [Line Items]
Cash and cash equivalents		370		$ 370
Energy Future Intermediate Holding CO LLC [Member] | First-Lien Debtor-in-Possession Facility [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Extension Fee, Twenty-Fifth Through Thirtieth Month				0.25%
Debtor-In-Possession Financing, Incremental Junior Lien Debt Allowed, Maximum				$ 3,000
Energy Future Intermediate Holding CO LLC [Member] | First-Lien Debtor-in-Possession Facility [Member] | Senior Secured Super-Priority First Lien Term Loan [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Amount Arranged		5,400		$ 5,400
Debtor-In-Possession Financing, Borrowings Used In Exchange Transaction For Pre-Petition Debt	$ 1,836
Debtor-In-Possession Financing, Borrowings Used to Repay Pre-Petition Debt	2,438
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum				1.00%
Debt Instrument, Basis Spread on Variable Rate				3.25%
Debtor-in-Possession Financing, Borrowings Outstanding		$ 5,400		$ 5,400
Debtor-in-Possession Financing, Interest Rate on Borrowings Outstanding		4.25%		4.25%
Debtor In Possession Financing, Liquidity Covenant, Unrestricted Cash Balance, Minimum		$ 150		$ 150
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | Fixed Senior Secured First Lien 6.875% Notes and Fixed Senior Secured First Lien 10% Notes [Member]
Line of Credit Facility [Line Items]
Principal Amount Of Affiliate Debt Acquired In Exchange Transaction	1,673
Principal Amount Of Affiliate Debt Repurchased	$ 2,312
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | Fixed Senior Secured Second Lien 11% Notes and Fixed Senior Secured Second Lien 11.75% Notes [Member] [Member]
Line of Credit Facility [Line Items]
Repayment of Debt And Pre-Petition And Post-Petition Interest				750
Repayments of Debt				445
Pre-Petition Interest Paid and Accrued On Pre-Petition Debt				55
Interest paid/accrued on pre-petition debt				$ 235
First Lien Note Parties And Qualifying Holders of EFIH First Lien Notes Tendered By Participation Date [Member] | Energy Future Intermediate Holding CO LLC [Member] | First-Lien Debtor-in-Possession Facility [Member] | Debtor-in-Possession Financing, First Lien Debt Facility Agreement [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Debt Settlement, Settlement Price, Percentage of Principal and Percentage of Accrued and Unpaid Interest, Percentage of Principal	105.00%
Debtor-in-Possession Financing, Debt Settlement, Settlement Price, Percentage of Principal and Percentage of Accrued and Unpaid Interest, Percentage of Accrued and Unpaid Interest	101.00%
First Lien Note Parties And Qualifying Holders of EFIH First Lien Notes Tendered By Participation Date [Member] | Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | Fixed Senior Secured First Lien 6.875% Notes and Fixed Senior Secured First Lien 10% Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Increase, Accrued Interest	$ 78
Non-Settling Holders Of EFIH First Lien Notes [Member] | Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | Fixed Senior Secured First Lien 6.875% Notes and Fixed Senior Secured First Lien 10% Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Increase, Accrued Interest	$ 128

[1] For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps

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Commodity And Other Derivative Contractual Assets And Liabilities (Financial Statement Effects of Derivatives) (Details) - Commodity contracts [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative asset, Fair Value, Gross Asset	$ 423	$ 497
Derivative liabilities, Fair Value, Gross Liability	(164)	(317)
Derivative asset, Fair Value, Net	407	497
Derivative liabilities, Fair Value, Net	(148)	(317)
Current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Fair Value, Gross Asset	393	492
Derivative liabilities, Fair Value, Gross Asset	0	0
Noncurrent assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Fair Value, Gross Asset	14	5
Derivative liabilities, Fair Value, Gross Asset	16	0
Current liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Fair Value, Gross Liability	0	0
Derivative liabilities, Fair Value, Gross Liability	(160)	(316)
Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Fair Value, Gross Liability	0	0
Derivative liabilities, Fair Value, Gross Liability	$ (4)	$ (1)

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Equity (Changes to Equity) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					$ (19,723)		$ (13,255)
Net income (loss)	$ (1,460)		$ 49		(3,199)		(1,334)
Effects of stock-based incentive compensation plans							6
Change in unrecognized losses related to pension and OPEB plans	(1)		(11)		(3)		(14)
Net effects of cash flow hedges	0		0		1		1
Net effects related to Oncor	1		(1)		2		0
Investments by noncontrolling interest							1
Other							1
Ending balance	(22,922)		(14,596)		(22,922)		(14,596)
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					2	[1]	2	[2]
Ending balance	2	[1]	2	[2]	2	[1]	2	[2]
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					7,968		7,962
Effects of stock-based incentive compensation plans							6
Other							1
Ending balance	7,968		7,969		7,968		7,969
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					(27,563)		(21,157)
Net income (loss)					(3,199)		(1,334)
Ending balance	(30,762)		(22,491)		(30,762)		(22,491)
Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					(130)		(63)
Change in unrecognized losses related to pension and OPEB plans					(3)		(14)
Net effects of cash flow hedges					1		1
Net effects related to Oncor					2
Ending balance	(130)		(76)		(130)		(76)
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					0		1
Investments by noncontrolling interest							1
Other							2
Ending balance	$ 0		$ 0		$ 0		$ 0

[1] Authorized shares totaled 2,000,000,000 at September 30, 2015. Outstanding shares totaled 1,669,861,379 and 1,669,861,379 at September 30, 2015 and December 31, 2014, respectively.

[2] Authorized shares totaled 2,000,000,000 at September 30, 2014. Outstanding shares totaled 1,669,861,379 and 1,669,861,383 at September 30, 2014 and December 31, 2013, respectively.

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Impairment of Long-Lived Assets (Impairment of Long-Lived Assets)(Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 1,295	$ 9	$ 1,971	$ 30
Write-Off Of Deferred Costs Related To Cancelled Mining Projects		$ 9		$ 30
Martin Lake Steam Electric Station, Sandow Steam Electric Station Unit 4 and Sandow Electric Station Unit 5 [Member] [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			1,295
Big Brown Steam Electric Station [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			$ 676

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Variable Interest Entities

9 Months Ended

Sep. 30, 2015

Consolidation Of Variable Interest Entities [Abstract]

Variable Interest Entities

VARIABLE INTEREST ENTITIES

A variable interest entity (VIE) is an entity with which we have a relationship or arrangement that indicates some level of control over the entity or results in economic risks to us. Accounting standards require consolidation of a VIE if we have (a) the power to direct the significant activities of the VIE and (b) the right or obligation to absorb profit and loss from the VIE (i.e., we are the primary beneficiary of the VIE). In determining the appropriateness of consolidation of a VIE, we evaluate its purpose, governance structure, decision making processes and risks that are passed on to its interest holders. We also examine the nature of any related party relationships among the interest holders of the VIE and the nature of any special rights granted to the interest holders of the VIE.

Oncor Holdings, an indirect wholly owned subsidiary of EFH Corp. that holds an approximate 80% interest in Oncor, is not consolidated in EFH Corp.'s financial statements, and instead is accounted for as an equity method investment, because the structural and operational ring-fencing measures discussed in Note 1 prevent us from having power to direct the significant activities of Oncor Holdings or Oncor. In accordance with accounting standards, we account for our investment in Oncor Holdings under the equity method, as opposed to the cost method, based on our level of influence over its activities. See below for additional information about our equity method investment in Oncor Holdings. There are no other material investments accounted for under the equity or cost method. The maximum exposure to loss from our interest in Oncor Holdings does not exceed our carrying value.

Non-Consolidation of Oncor and Oncor Holdings

Our investment in unconsolidated subsidiary as presented in the condensed consolidated balance sheets totaled $6.131 billion and $6.058 billion at September 30, 2015 and December 31, 2014, respectively, and consists almost entirely of our interest in Oncor Holdings, which we account for under the equity method as described above. Oncor provides services, principally electricity distribution, to TCEH's retail operations, and the related revenues represented 25% and 26% of Oncor Holdings' consolidated operating revenues for the nine months ended September 30, 2015 and 2014, respectively.

See Note 15 for discussion of Oncor Holdings' and Oncor's transactions with EFH Corp. and its other subsidiaries.

Distributions from Oncor Holdings and Related Considerations —Oncor Holdings' distributions of earnings to us totaled $206 million and $128 million for the nine months ended September 30, 2015 and 2014, respectively. Distributions may not be paid except to the extent Oncor maintains a required regulatory capital structure as discussed below. At September 30, 2015, $111 million was eligible to be distributed to Oncor's members after taking into account the regulatory capital structure limit, of which approximately 80% relates to our ownership interest in Oncor. The boards of directors of each of Oncor and Oncor Holdings can withhold distributions to the extent the applicable board determines in good faith that it is necessary to retain such amounts to meet expected future requirements of Oncor and/or Oncor Holdings.

Oncor's distributions are limited by its regulatory capital structure, which is required to be at or below the assumed debt-to-equity ratio established by the PUCT for ratemaking purposes, which is currently set at 60% debt to 40% equity. At September 30, 2015, Oncor's regulatory capitalization ratio was 59.3% debt and 40.7% equity. For purposes of this ratio, debt is calculated as long-term debt plus unamortized gains on reacquired debt less unamortized issuance expenses, premiums and losses on reacquired debt. The debt calculation excludes bonds issued by Oncor Electric Delivery Transition Bond Company LLC, which were issued in 2003 and 2004 to recover specific generation-related regulatory assets and other qualified costs. Equity is calculated as membership interests determined in accordance with US GAAP, excluding the effects of accounting for the Merger (which included recording the initial goodwill and fair value adjustments and the subsequent related impairments and amortization).

EFH Corp., Oncor Holdings, Oncor and Oncor's minority investor are parties to a Federal and State Income Tax Allocation Agreement. Additional income tax amounts receivable or payable may arise in the normal course under that agreement.

Oncor Holdings Financial Statements —Condensed statements of consolidated income of Oncor Holdings and its subsidiaries for the three and nine months ended September 30, 2015 and 2014 are presented below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues	$	1,072		$	1,054		$	2,957		$	2,883
Operation and maintenance expenses	(387		)	(376		)	(1,134		)	(1,074		)
Depreciation and amortization	(217		)	(218		)	(653		)	(638		)
Taxes other than income taxes	(116		)	(115		)	(336		)	(330		)
Other income	1			3			5			10
Other deductions	(9		)	(4		)	(21		)	(11		)
Interest income	(1		)	1			(1		)	3
Interest expense and related charges	(84		)	(89		)	(250		)	(266		)
Income before income taxes	259			256			567			577
Income tax expense	(99		)	(101		)	(217		)	(230		)
Net income	160			155			350			347
Net income attributable to noncontrolling interests	(33		)	(32		)	(72		)	(71		)
Net income attributable to Oncor Holdings	$	127		$	123		$	278		$	276

Assets and liabilities of Oncor Holdings at September 30, 2015 and December 31, 2014 are presented below:

	September 30, 2015		December 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	18	$	5
Restricted cash	62		56
Trade accounts receivable — net	444		407
Trade accounts and other receivables from affiliates	156		118
Income taxes receivable from EFH Corp.	—		144
Inventories	80		73
Accumulated deferred income taxes	7		10
Prepayments and other current assets	93		91
Total current assets	860		904
Restricted cash	—		16
Other investments	95		97
Property, plant and equipment — net	12,908		12,463
Goodwill	4,064		4,064
Regulatory assets — net	1,177		1,429
Other noncurrent assets	71		67
Total assets	$	19,175	$	19,040
LIABILITIES
Current liabilities:
Short-term borrowings	$	708	$	711
Long-term debt due currently	86		639
Trade accounts payable — nonaffiliates	164		202
Income taxes payable to EFH Corp.	31		24
Accrued taxes other than income	150		174
Accrued interest	67		93
Other current liabilities	149		156
Total current liabilities	1,355		1,999
Accumulated deferred income taxes	1,918		1,978
Long-term debt, less amounts due currently	5,681		4,997
Other noncurrent liabilities and deferred credits	2,270		2,245
Total liabilities	$	11,224	$	11,219

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Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (130)	$ (63)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Depreciation and amortization	$ (203)	$ (330)	(643)	(993)
Selling, general and administrative expenses	(192)	(183)	(547)	(594)
Interest expense and related charges	(383)	(382)	(1,375)	(1,816)
Income tax benefit	452	72	990	830
Equity in earnings of unconsolidated subsidiaries (net of tax)	127	123	278	276
Total other comprehensive income (loss)	0	(12)	0	(13)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax				(11)
Ending balance	(130)	(76)	(130)	(76)
Other Comprehensive Income (Loss) Total Change for the Period Net of Tax				(13)
Dedesignated Cash Flow Hedges – Interest Rate Swaps [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(53)	(56)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax				0
Ending balance	(51)	(54)	(51)	(54)
Other Comprehensive Income (Loss) Total Change for the Period Net of Tax				2
Pension and Other Postretirement Employee Benefit Liabilities Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(77)	(7)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax				(11)
Ending balance	$ (79)	$ (22)	(79)	(22)
Other Comprehensive Income (Loss) Total Change for the Period Net of Tax				(15)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs			(2)	(3)
Depreciation and amortization			1	1
Selling, general and administrative expenses			(3)	(2)
Interest expense and related charges				0
Income tax benefit			2	2
Equity in earnings of unconsolidated subsidiaries (net of tax)			2	0
Total other comprehensive income (loss)			0	(2)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Dedesignated Cash Flow Hedges – Interest Rate Swaps [Member]
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs			0	0
Depreciation and amortization			1	1
Selling, general and administrative expenses			0	0
Interest expense and related charges				0
Income tax benefit			0	0
Equity in earnings of unconsolidated subsidiaries (net of tax)			1	1
Total other comprehensive income (loss)			2	2
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and Other Postretirement Employee Benefit Liabilities Adjustments [Member]
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs			(2)	(3)
Depreciation and amortization			0	0
Selling, general and administrative expenses			(3)	(2)
Interest expense and related charges				0
Income tax benefit			2	2
Equity in earnings of unconsolidated subsidiaries (net of tax)			1	(1)
Total other comprehensive income (loss)			$ (2)	$ (4)

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Goodwill And Identifiable Intangible Assets (Amortization Expense Related to Identifiable Intangible Assets (including income statement line item)) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization expense	[1]	$ 26	$ 36	$ 69	$ 107
Depreciation and amortization [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense		21	25	54	76
Retail customer relationship [Member] | Depreciation and amortization [Member] | Competitive Electric [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense		4	6	13	17
Capitalized in-service software [Member] | Depreciation and amortization [Member] | Competitive Electric and Corporate and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense		13	11	35	34
Other Identifiable Intangible Assets [Member] | Operating Revenues, Fuel, Purchased Power Costs And Delivery Fees, Depreciation And Amortization [Member] | Competitive Electric [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 9	$ 19	$ 21	$ 56

[1] Amounts recorded in depreciation and amortization totaled $21 million and $25 million for the three months ended September 30, 2015 and 2014, respectively, and $54 million and $76 million for the nine months ended September 30, 2015 and 2014, respectively.

XML

Reorganization Items (Tables)

9 Months Ended

Sep. 30, 2015

Reorganization Items [Abstract]

Reorganization Items

Expenses and income directly associated with the Chapter 11 Cases are reported separately in the condensed statements of consolidated income (loss) as reorganization items as required by ASC 852, Reorganizations. Reorganization items also include adjustments to reflect the carrying value of liabilities subject to compromise (LSTC) at their estimated allowed claim amounts, as such adjustments are determined. The following table presents reorganization items incurred in the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014 as reported in the condensed statements of consolidated income (loss):

	Three Months Ended September 30, 2015			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2015		Post-Petition Period Ended September 30, 2014
Expenses related to legal advisory and representation services	$	46		$	38		$	148	$	79
Expenses related to other professional consulting and advisory services	22			22			69		72
Contract claims adjustments	(2		)	—			26		—
Fees associated with repayment of EFIH Second Lien Notes (Note 10)	—			—			28		—
Noncash liability adjustment arising from termination of interest rate swaps (Note 14)	—			—			—		278
Fees associated with completion of TCEH and EFIH DIP Facilities	—			(5		)	—		180
Loss on exchange and settlement of EFIH First Lien Notes (Note 9)	—			—			—		108
Other	2			—			4		3
Total reorganization items	$	68		$	55		$	275	$	720

XML

Interest Expense and Related Charges (Tables)

9 Months Ended

Sep. 30, 2015

Interest Expense and Related Charges [Abstract]

Schedule of Interest Expense and Related Charges

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Interest paid/accrued on debtor-in-possession financing	$	74		$	74		$	221		$	88
Adequate protection amounts paid/accrued (a)	311			308			919			519
Interest paid/accrued on pre-petition debt (b)	—			3			243			1,152
Interest expense on pre-petition toggle notes payable in additional principal (Note 10)	—			—			—			65
Noncash realized net loss on termination of interest rate swaps (offset in unrealized net gain) (c)	—			—			—			1,237
Unrealized mark-to-market net gain on interest rate swaps	—			—			—			(1,303		)
Amortization of debt issuance, amendment and extension costs and discounts	—			—			—			67
Capitalized interest	(2		)	(3		)	(8		)	(14		)
Other	—			—			—			5
Total interest expense and related charges	$	383		$	382		$	1,375		$	1,816

____________

(a) Post-petition period only.

(b) For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps discussed in Note 14.

(c) Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

Contractual Interest Expense On Pre-Petition Liabilities]

	Three Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	101			—		—		101
EFCH	2			—		—		2
TCEH	520			296		—		224
Eliminations (b)	(31		)	—		—		(31		)
Total	$	623		$	296	$	—	$	327

	Three Months Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	114			—		—		114
EFCH	2			—		—		2
TCEH	514			293		—		221
Eliminations (b)	(31		)	—		—		(31		)
Total	$	630		$	293	$	—	$	337

	Nine Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	94		$	—	$	—	$	94
EFIH	314			—		50		264
EFCH	5			—		—		5
TCEH	1,548			875		—		673
Eliminations (b)	(93		)	—		—		(93		)
Total	$	1,868		$	875	$	50	$	943

	Post-Petition Period Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	53		$	—	$	—	$	53
EFIH	248			—		54		194
EFCH	3			—		—		3
TCEH	871			494		—		377
Eliminations (b)	(53		)	—		—		(53		)
Total	$	1,122		$	494	$	54	$	574

___________

(a) For the nine months ended September 30, 2015 represents portion of interest related to the EFIH Second Lien Notes that was repaid based on the approval of the Bankruptcy Court; however, excludes $185 million of post-petition interest paid in 2015 that contractually related to 2014 and default interest (see Note 10). For the post-petition period ended September 30, 2014, represents interest on EFIH First Lien Notes exchanged and settled in June 2014 (see Note 9).

(b) Represents contractual interest on affiliate debt held by EFH Corp. and EFIH that is classified as LSTC.

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Liabilities Subject to Compromise (Repayment of EFIH Second Lien Notes) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	[1]	Dec. 31, 2014
Debt Instrument [Line Items]
Interest paid/accrued on pre-petition debt	$ 0	$ 3	$ 243	[1]	$ 1,152
Liabilities Subject To Compromise, Debt	34,679		34,679				$ 35,124
Energy Future Intermediate Holding CO LLC [Member]
Debt Instrument [Line Items]
Liabilities Subject To Compromise, Debt	3,401		3,401				3,846
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | Fixed Senior Secured Second Lien 11% Notes and Fixed Senior Secured Second Lien 11.75% Notes [Member] [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt			735
Debt Repurchase Fees And Expenses			15
Repayments of Debt			445
Interest paid/accrued on pre-petition debt			235
Pre-Petition Interest Paid and Accrued On Pre-Petition Debt			$ 55
Percent Of Lenders Consenting To Debt Repurchase Transaction			97.00%
Consent Fee Related To Debt Repurchase Transaction			$ 13
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11% Fixed Senior Secured Second Lien Notes due October 1, 2021 [Member]
Debt Instrument [Line Items]
Repayments of Debt			84
Liabilities Subject To Compromise, Debt	322		322				406
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 [Member]
Debt Instrument [Line Items]
Repayments of Debt			361
Liabilities Subject To Compromise, Debt	$ 1,389		$ 1,389				$ 1,750

[1] For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps

XML

Goodwill And Identifiable Intangible Assets (Estimated Amortization of Identifiable Intangible Assets) (Details) $ in Millions	Sep. 30, 2015 USD ($)
Estimated Amortization Expense
2015	$ 86
2016	61
2017	50
2018	30
2019	$ 16

XML

Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise (Tables)

9 Months Ended

Sep. 30, 2015

Debtor-In-Possession Obligations [Abstract]

Schedule of Line of Credit Facilities

The TCEH DIP Facility and related available capacity at September 30, 2015 are presented below. Borrowings are reported in the condensed consolidated balance sheets as borrowings under debtor-in-possession credit facilities. In the September 30, 2015 condensed consolidated balance sheet the borrowings under the TCEH DIP Facility are reported as current liabilities since the maturity date of the facility was May 2016 as of such date. In October 2015, the TCEH Debtors paid an $8 million extension fee and extended the maturity date of the TCEH DIP Facility to the earlier of (a) November 2016 or (b) the effective date of any reorganization plan of TCEH. The terms of the facility were otherwise unchanged by the extension. In September 2015, the TCEH Debtors extended their use of cash collateral to the earlier of (a) the effective date of a plan of reorganization or (b) 60 days following termination of the Debtors' Plan Support Agreement, provided that the TCEH Debtors do not otherwise cause an event of default under the cash collateral order.

	September 30, 2015
TCEH DIP Facility	Facility Limit		Available Cash Borrowing Capacity		Available Letter of Credit Capacity
TCEH DIP Revolving Credit Facility (a)	$	1,950	$	1,950	$	—
TCEH DIP Term Loan Facility (b)	1,425		—		436
Total TCEH DIP Facility	$	3,375	$	1,950	$	436

___________

(a) Facility used for general corporate purposes. No amounts were borrowed at September 30, 2015. Pursuant to an order of the Bankruptcy Court, the TCEH Debtors may not have more than $1.650 billion of TCEH DIP Revolving Credit Facility cash borrowings outstanding without written consent of the TCEH committee of unsecured creditors and the ad hoc group of TCEH unsecured noteholders or further order of the Bankruptcy Court.

(b) Facility used for general corporate purposes, including but not limited to, $800 million for issuing letters of credit.

Schedule of Long-term Debt Instruments

Long-Term Debt Not Subject to Compromise — Amounts presented in the table below represent pre-petition liabilities that are not subject to compromise due to the debt being fully collateralized or specific orders from the Bankruptcy Court approving repayment of the debt.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
8.82% Non-Debtor Building Financing due semiannually through February 11, 2022	$	35		$	40
Unamortized fair value premium (a)	6			7
Total EFH Corp.	41			47
EFCH
9.58% Fixed Notes due in annual installments through December 4, 2019 (b)	21			21
8.254% Fixed Notes due in quarterly installments through December 31, 2021 (b)	25			29
Unamortized fair value discount (a)	(2		)	(3		)
Total EFCH	44			47
TCEH
7.48% Fixed Secured Facility Bonds with amortizing payments through January 2017 (c)	13			25
7.46% Fixed Secured Facility Bonds with amortizing payments through January 2015 (c)	—			4
Capital lease obligations	40			44
Other	2			2
Unamortized discount	(1		)	(2		)
Total TCEH	54			73
Total EFH Corp. consolidated	139			167
Less amounts due currently	(36		)	(39		)
Total long-term debt not subject to compromise	$	103		$	128

____________

(a) Amount represents unamortized fair value adjustments recorded under purchase accounting.

(b) Approved by the Bankruptcy Court for repayment.

(c) Debt issued by trust and secured by assets held by the trust.

Amounts presented below represent principal amounts of pre-petition notes, loans and other debt reported as liabilities subject to compromise.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
9.75% Fixed Senior Notes due October 15, 2019	$	2		$	2
10% Fixed Senior Notes due January 15, 2020	3			3
10.875% Fixed Senior Notes due November 1, 2017	33			33
11.25% / 12.00% Senior Toggle Notes due November 1, 2017	27			27
5.55% Fixed Series P Senior Notes due November 15, 2014 (a)	90			90
6.50% Fixed Series Q Senior Notes due November 15, 2024 (a)	201			201
6.55% Fixed Series R Senior Notes due November 15, 2034 (a)	291			291
Unamortized fair value discount (b)	(118		)	(118		)
Total EFH Corp.	529			529
EFIH
11% Fixed Senior Secured Second Lien Notes due October 1, 2021	322			406
11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022	1,389			1,750
11.25% / 12.25% Senior Toggle Notes due December 1, 2018	1,566			1,566
9.75% Fixed Senior Notes due October 15, 2019	2			2
Unamortized premium	243			243
Unamortized discount	(121		)	(121		)
Total EFIH	3,401			3,846
EFCH
Floating Rate Junior Subordinated Debentures, Series D due January 30, 2037	1			1
8.175% Fixed Junior Subordinated Debentures, Series E due January 30, 2037	8			8
Unamortized fair value discount (b)	(1		)	(1		)
Total EFCH	8			8
TCEH
Senior Secured Facilities:
TCEH Floating Rate Term Loan Facilities due October 10, 2014	3,809			3,809
TCEH Floating Rate Letter of Credit Facility due October 10, 2014	42			42
TCEH Floating Rate Revolving Credit Facility due October 10, 2016	2,054			2,054
TCEH Floating Rate Term Loan Facilities due October 10, 2017 (a)	$	15,691		$	15,691

	September 30, 2015			December 31, 2014
TCEH Floating Rate Letter of Credit Facility due October 10, 2017	1,020			1,020
11.5% Fixed Senior Secured Notes due October 1, 2020	1,750			1,750
15% Fixed Senior Secured Second Lien Notes due April 1, 2021	336			336
15% Fixed Senior Secured Second Lien Notes due April 1, 2021, Series B	1,235			1,235
10.25% Fixed Senior Notes due November 1, 2015 (a)	1,833			1,833
10.25% Fixed Senior Notes due November 1, 2015, Series B (a)	1,292			1,292
10.50% / 11.25% Senior Toggle Notes due November 1, 2016	1,749			1,749
Pollution Control Revenue Bonds:
Brazos River Authority:
5.40% Fixed Series 1994A due May 1, 2029	39			39
7.70% Fixed Series 1999A due April 1, 2033	111			111
7.70% Fixed Series 1999C due March 1, 2032	50			50
8.25% Fixed Series 2001A due October 1, 2030	71			71
8.25% Fixed Series 2001D-1 due May 1, 2033	171			171
6.30% Fixed Series 2003B due July 1, 2032	39			39
6.75% Fixed Series 2003C due October 1, 2038	52			52
5.40% Fixed Series 2003D due October 1, 2029	31			31
5.00% Fixed Series 2006 due March 1, 2041	100			100
Sabine River Authority of Texas:
6.45% Fixed Series 2000A due June 1, 2021	51			51
5.20% Fixed Series 2001C due May 1, 2028	70			70
5.80% Fixed Series 2003A due July 1, 2022	12			12
6.15% Fixed Series 2003B due August 1, 2022	45			45
Trinity River Authority of Texas:
6.25% Fixed Series 2000A due May 1, 2028	14			14
Unamortized fair value discount related to pollution control revenue bonds (b)	(103		)	(103		)
Other:
Other	1			1
Unamortized discount	(91		)	(91		)
Total TCEH	31,474			31,474
Deferred debt issuance and extension costs	(733		)	(733		)
Total EFH Corp. consolidated notes, loans and other debt	$	34,679		$	35,124

___________

(a) Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation.

	September 30, 2015		December 31, 2014
EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014	$	281	$	281
EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024	545		545
EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034	456		456
TCEH Floating Rate Term Loan Facilities due October 10, 2017	19		19
TCEH 10.25% Fixed Senior Notes due November 1, 2015	213		213
TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B	150		150
Total	$	1,664	$	1,664

(b) Amount represents unamortized fair value adjustments recorded under purchase accounting.

XML

Liabilities Subject to Compromise (Tables)

9 Months Ended

Sep. 30, 2015

Liabilities Subject to Compromise [Abstract]

Liabilities Subject To Compromise

The amounts classified as liabilities subject to compromise (LSTC) reflect the company's estimate of pre-petition liabilities and other expected allowed claims to be addressed in the Chapter 11 Cases and may be subject to future adjustment as the Chapter 11 Cases proceed. Debt amounts include related unamortized deferred financing costs and discounts/premiums. Amounts classified to LSTC do not include pre-petition liabilities that are fully collateralized by letters of credit or cash deposits. The following table presents LSTC as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014:

	September 30, 2015		December 31, 2014
Notes, loans and other debt per the following table	$	34,679	$	35,124
Accrued interest on notes, loans and other debt	749		804
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements (Note 14)	1,235		1,235
Trade accounts payable and other expected allowed claims	261		269
Total liabilities subject to compromise	$	36,924	$	37,432

Schedule of Long-term Debt Instruments

Long-Term Debt Not Subject to Compromise — Amounts presented in the table below represent pre-petition liabilities that are not subject to compromise due to the debt being fully collateralized or specific orders from the Bankruptcy Court approving repayment of the debt.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
8.82% Non-Debtor Building Financing due semiannually through February 11, 2022	$	35		$	40
Unamortized fair value premium (a)	6			7
Total EFH Corp.	41			47
EFCH
9.58% Fixed Notes due in annual installments through December 4, 2019 (b)	21			21
8.254% Fixed Notes due in quarterly installments through December 31, 2021 (b)	25			29
Unamortized fair value discount (a)	(2		)	(3		)
Total EFCH	44			47
TCEH
7.48% Fixed Secured Facility Bonds with amortizing payments through January 2017 (c)	13			25
7.46% Fixed Secured Facility Bonds with amortizing payments through January 2015 (c)	—			4
Capital lease obligations	40			44
Other	2			2
Unamortized discount	(1		)	(2		)
Total TCEH	54			73
Total EFH Corp. consolidated	139			167
Less amounts due currently	(36		)	(39		)
Total long-term debt not subject to compromise	$	103		$	128

____________

(a) Amount represents unamortized fair value adjustments recorded under purchase accounting.

(b) Approved by the Bankruptcy Court for repayment.

(c) Debt issued by trust and secured by assets held by the trust.

Amounts presented below represent principal amounts of pre-petition notes, loans and other debt reported as liabilities subject to compromise.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
9.75% Fixed Senior Notes due October 15, 2019	$	2		$	2
10% Fixed Senior Notes due January 15, 2020	3			3
10.875% Fixed Senior Notes due November 1, 2017	33			33
11.25% / 12.00% Senior Toggle Notes due November 1, 2017	27			27
5.55% Fixed Series P Senior Notes due November 15, 2014 (a)	90			90
6.50% Fixed Series Q Senior Notes due November 15, 2024 (a)	201			201
6.55% Fixed Series R Senior Notes due November 15, 2034 (a)	291			291
Unamortized fair value discount (b)	(118		)	(118		)
Total EFH Corp.	529			529
EFIH
11% Fixed Senior Secured Second Lien Notes due October 1, 2021	322			406
11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022	1,389			1,750
11.25% / 12.25% Senior Toggle Notes due December 1, 2018	1,566			1,566
9.75% Fixed Senior Notes due October 15, 2019	2			2
Unamortized premium	243			243
Unamortized discount	(121		)	(121		)
Total EFIH	3,401			3,846
EFCH
Floating Rate Junior Subordinated Debentures, Series D due January 30, 2037	1			1
8.175% Fixed Junior Subordinated Debentures, Series E due January 30, 2037	8			8
Unamortized fair value discount (b)	(1		)	(1		)
Total EFCH	8			8
TCEH
Senior Secured Facilities:
TCEH Floating Rate Term Loan Facilities due October 10, 2014	3,809			3,809
TCEH Floating Rate Letter of Credit Facility due October 10, 2014	42			42
TCEH Floating Rate Revolving Credit Facility due October 10, 2016	2,054			2,054
TCEH Floating Rate Term Loan Facilities due October 10, 2017 (a)	$	15,691		$	15,691

	September 30, 2015			December 31, 2014
TCEH Floating Rate Letter of Credit Facility due October 10, 2017	1,020			1,020
11.5% Fixed Senior Secured Notes due October 1, 2020	1,750			1,750
15% Fixed Senior Secured Second Lien Notes due April 1, 2021	336			336
15% Fixed Senior Secured Second Lien Notes due April 1, 2021, Series B	1,235			1,235
10.25% Fixed Senior Notes due November 1, 2015 (a)	1,833			1,833
10.25% Fixed Senior Notes due November 1, 2015, Series B (a)	1,292			1,292
10.50% / 11.25% Senior Toggle Notes due November 1, 2016	1,749			1,749
Pollution Control Revenue Bonds:
Brazos River Authority:
5.40% Fixed Series 1994A due May 1, 2029	39			39
7.70% Fixed Series 1999A due April 1, 2033	111			111
7.70% Fixed Series 1999C due March 1, 2032	50			50
8.25% Fixed Series 2001A due October 1, 2030	71			71
8.25% Fixed Series 2001D-1 due May 1, 2033	171			171
6.30% Fixed Series 2003B due July 1, 2032	39			39
6.75% Fixed Series 2003C due October 1, 2038	52			52
5.40% Fixed Series 2003D due October 1, 2029	31			31
5.00% Fixed Series 2006 due March 1, 2041	100			100
Sabine River Authority of Texas:
6.45% Fixed Series 2000A due June 1, 2021	51			51
5.20% Fixed Series 2001C due May 1, 2028	70			70
5.80% Fixed Series 2003A due July 1, 2022	12			12
6.15% Fixed Series 2003B due August 1, 2022	45			45
Trinity River Authority of Texas:
6.25% Fixed Series 2000A due May 1, 2028	14			14
Unamortized fair value discount related to pollution control revenue bonds (b)	(103		)	(103		)
Other:
Other	1			1
Unamortized discount	(91		)	(91		)
Total TCEH	31,474			31,474
Deferred debt issuance and extension costs	(733		)	(733		)
Total EFH Corp. consolidated notes, loans and other debt	$	34,679		$	35,124

___________

(a) Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation.

	September 30, 2015		December 31, 2014
EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014	$	281	$	281
EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024	545		545
EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034	456		456
TCEH Floating Rate Term Loan Facilities due October 10, 2017	19		19
TCEH 10.25% Fixed Senior Notes due November 1, 2015	213		213
TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B	150		150
Total	$	1,664	$	1,664

(b) Amount represents unamortized fair value adjustments recorded under purchase accounting.

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Chapter 11 Cases

9 Months Ended

Sep. 30, 2015

Reorganizations [Abstract]

Chapter 11 Cases

    CHAPTER 11 CASES

On the Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities, filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. During the pendency of the Chapter 11 Cases, the Debtors will operate their businesses as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.

The Bankruptcy Filing resulted primarily from the adverse effects on EFH Corp.'s competitive businesses of lower wholesale electricity prices in ERCOT driven by the sustained decline in natural gas prices since mid-2008. Further, the natural gas hedges that TCEH entered into when forward market prices of natural gas were significantly higher than current prices had largely matured before the remaining positions were terminated shortly after the Bankruptcy Filing. These market conditions challenged the profitability and operating cash flows of EFH Corp.'s competitive businesses and resulted in the inability to support their significant interest payments and debt maturities, including the remaining debt obligations due in 2014, and the inability to refinance and/or extend the maturities of their outstanding debt.

Proposed Plan of Reorganization

A Chapter 11 plan of reorganization, among other things, determines the rights and satisfaction of claims of various creditors and security holders of an entity operating under the protection of the Bankruptcy Court and is subject to the ultimate outcome of stakeholder negotiations and Bankruptcy Court decisions ongoing through the date on which the Chapter 11 plan is confirmed. In order for the Debtors to emerge successfully from the Chapter 11 Cases as reorganized companies, they must obtain approval from the Bankruptcy Court and certain of their respective creditors for a Chapter 11 plan of reorganization. In September 2015, the Debtors filed the Plan of Reorganization and the Disclosure Statement. The Disclosure Statement was approved by the Bankruptcy Court in September 2015. In October 2015, the Debtors filed the Plan Supplement. The Debtors have the exclusive right to solicit the appropriate votes for the Plan of Reorganization until December 29, 2015 (the exclusivity period). In October 2015, the Plan of Reorganization was approved by the required creditors.

In general, the Plan of Reorganization proposes a structure that involves a tax-free deconsolidation or tax-free spin-off of TCEH from EFH Corp. (Reorganized TCEH), immediately followed by the acquisition of reorganized EFH Corp. financed by existing TCEH creditors and third-party investors. Pursuant to the Plan of Reorganization and subject to certain conditions and required regulatory approvals, among other things:

• TCEH will execute a transaction that will result in a partial step-up in the tax basis of certain TCEH assets;

• the Reorganized TCEH Spin-Off will occur;

• a consortium (collectively, the Investor Group) consisting of certain TCEH creditors, an affiliate of Hunt Consolidated, Inc. (Hunt) and certain other investors designated by Hunt will acquire (the EFH Acquisition) reorganized EFH Corp. (Reorganized EFH);

• in connection with the EFH Acquisition, (i) the Investor Group will raise up to approximately $12.6 billion of equity and debt financing to invest in Reorganized EFH, (ii) a successor to Reorganized EFH will be converted to a real estate investment trust (REIT) under the Internal Revenue Code and (iii) all allowed claims against the EFH Debtors and the EFIH Debtors will receive treatment rendering them unimpaired (excluding any claims derived from or based upon make-whole, applicable premium, redemption premium or other similar payment provisions, or any other alleged premiums, fees, or claims relating to the repayment of claims and unsecured claims for post-petition interest in excess of the federal judgment rate of interest, each of which will be disallowed under the Plan of Reorganization), and

• the Debtors, the Sponsor Group, certain settling TCEH first lien creditors, certain settling TCEH second lien creditors, certain settling TCEH unsecured creditors and the official committee of unsecured creditors of the TCEH Debtors (collectively, the Settling Parties) agreed to settle certain disputes, claims and causes of action.

Plan Support Agreement

In August 2015 (as amended in September 2015), each of the Debtors entered into a Plan Support Agreement (Plan Support Agreement) with various of their respective creditors, the Sponsor Group, the official committee of unsecured creditors of the TCEH Debtors and the Investor Group in order to effect an agreed upon restructuring of the Debtors pursuant to the Plan of Reorganization. Pursuant to the Plan Support Agreement, the parties agreed, subject to the terms and conditions contained in the Plan Support Agreement, to support the Debtors' Plan of Reorganization.

Pursuant to the Plan Support Agreement, certain of the parties to the Plan Support Agreement are required to not object to or interfere with an alternative plan of reorganization even if the EFH Acquisition is not completed so long as such plan meets certain minimum conditions. All or part of the Plan Support Agreement may be terminated upon the occurrence of certain events described in the Plan Support Agreement. In addition, under the Plan Support Agreement, the supporting parties have committed to support the inclusion of releases with respect to the claims described in the Settlement Agreement (described below) in the context of an alternative plan (which would become effective when a plan becomes effective).

Settlement Agreement

The Settling Parties entered into a settlement agreement (the Settlement Agreement) in August 2015 (as amended in September 2015) to compromise and settle, among other things (a) intercompany claims among the Debtors, (b) claims and causes of actions against holders of first lien claims against TCEH and the agents and under the TCEH Senior Secured Facilities, (c) claims and causes of action against holders of interests in EFH Corp. and certain related entities and (d) claims and causes of action against each of the Debtors' current and former directors, the Sponsor Group, managers and officers and other related entities. The Settlement Agreement contemplates a release of such claims upon approval of the Settlement Agreement by the Bankruptcy Court, which would remain effective regardless of whether the EFH Acquisition is completed. The Debtors expect to seek Bankruptcy Court approval of the Settlement Agreement at the confirmation hearing for the Plan of Reorganization.

Merger and Purchase Agreement

In August 2015, EFH Corp. and EFIH entered into a Purchase Agreement and Agreement and Plan of Merger (Merger and Purchase Agreement) with two acquisition entities, Ovation Acquisition I, L.L.C. (OV1) and Ovation Acquisition II, L.L.C. (collectively, the Purchasers), which are controlled by the Investor Group. Pursuant to the Merger and Purchase Agreement, at the effective time of the Plan of Reorganization and immediately after consummation of the Reorganized TCEH Spin-Off, the Investor Group will acquire Reorganized EFH.

The Merger and Purchase Agreement contemplates that funds received by the Purchasers pursuant to the Equity Commitment Letter, the Debt Commitment Letter and the Rights Offering and Backstop (each as defined below) will be used to facilitate the acquisition of Reorganized EFH and, as applicable, repay the allowed claims of holders of claims and interests in EFH Corp. and EFIH in full in cash (or otherwise render such claims unimpaired) pursuant to the Plan of Reorganization and, if applicable, to complete the Texas Transmission Acquisition (as defined below). The Merger and Purchase Agreement includes various conditions precedent to consummation of the transactions contemplated thereby, including a condition that certain approvals and rulings be obtained, including from the PUCT and the IRS, that are necessary to consummate the EFH Acquisition and convert Reorganized EFH into a REIT.

The Merger and Purchase Agreement may be terminated upon certain events, including, among other things, (a) by either party, if certain termination events occur under the Plan Support Agreement, including if the EFH Acquisition is not completed by April 30, 2016, subject to extension to June 30, 2016 or August 31, 2016 under certain conditions, (b) by EFH Corp. or EFIH, if their respective board of directors or managers determines in good faith that proceeding with the transactions contemplated by the Merger and Purchase Agreement would be inconsistent with its applicable fiduciary duties or (c) by the Purchasers, if EFH Corp. or EFIH fails to meet various milestones related to the Debtors' Chapter 11 Cases or otherwise materially breaches the Merger and Purchase Agreement.

EFH Corp.'s and EFIH's respective obligations under the Merger and Purchase Agreement are subject in all respects to the prior approval of the Bankruptcy Court.

Rights Offering

As contemplated by the Plan of Reorganization, OV1 intends to conduct an offering of equity rights (each, a Right, and such offering, the Rights Offering) to holders of unsecured debt claims, second lien debt claims, general unsecured claims and first lien secured claims against TCEH (Rights Offering Participants) enabling the Rights Offering Participants to purchase an aggregate of $5.787 billion of common stock of OV1 (as the successor by merger of Reorganized EFH), of which $5.087 billion of such common stock will be offered to holders of unsecured debt claims, second lien debt claims, and general unsecured claims against TCEH, and $700 million of such common stock will be offered to holders of first lien secured claims against TCEH. In October 2015, OV1 filed a registration statement on Form S-11 with the SEC to register the equity rights under the Securities Act of 1933. This quarterly report on Form 10-Q does not constitute an offer to sell, or a solicitation of an offer to purchase, the Rights.

Pursuant to a Backstop Agreement (Backstop Agreement), among certain investors named therein and their permitted assignees (Backstop Purchasers), EFH Corp., EFIH and OV1, the Backstop Purchasers have agreed to backstop $5.087 billion of Rights offered to certain of the Rights Offering Participants (Backstop).

In connection with the execution of the Merger and Purchase Agreement, each member of the Investor Group (collectively, the Equity Commitment Parties) delivered (a) an equity commitment letter (Equity Commitment Letter) in favor of EFH Corp. (including Reorganized EFH), EFIH and the Purchasers pursuant to which the Equity Commitment Parties committed to invest in one or more of the Purchasers an aggregate amount of approximately $2.013 billion (assuming the Texas Transmission Acquisition (as described below) is completed) and (b) a limited guarantee (Guarantee) in favor of EFH Corp. (including Reorganized EFH) and EFIH pursuant to which each such Equity Commitment Party committed to pay its pro rata share of all fees, costs or expenses payable by the Purchasers under the Merger and Purchase Agreement or under the Plan of Reorganization if such fees, costs or expenses become payable pursuant thereto. The aggregate liability of the Equity Commitment Parties under the Guarantee for fees and expenses is capped at $35 million.

If the Merger and Purchase Agreement, the Backstop Agreement or the Equity Commitment Letter are terminated for any reason, EFH Corp. and EFIH have waived their rights to seek any legal or equitable remedies, except in connection with the reimbursement of certain fees and expenses capped at $35 million, against the Purchasers or the Investor Group, the Backstop Purchasers or the Equity Commitment Parties, respectively.

Debt Funding Arrangements

In August 2015, in connection with the execution of the Merger and Purchase Agreement, the Investor Group entered into a commitment letter (Debt Commitment Letter) with Morgan Stanley Senior Funding, Inc. (Debt Commitment Lender) pursuant to which the Debt Commitment Lender committed to fund up to $5.5 billion under a senior secured term loan facility and $250 million under a senior secured bridge loan facility to reorganized EFIH and its subsidiaries at the closing of the EFH Acquisition.

Texas Transmission Acquisition

In connection with the EFH Acquisition and the Rights Offering, the Purchasers, EFH Corp. and EFIH have formulated a plan to create and implement an IPO Conversion (as such term is defined in the Investor Rights Agreement (Investor Rights Agreement), dated November 2008 among Oncor and certain of its direct and indirect equity holders, including EFH Corp. and Texas Transmission, pursuant to which one of the Purchasers, as the successor to Reorganized EFH as a result of the EFH Acquisition, would serve as an IPO corporation (as defined in the Investor Rights Agreement). In connection with the execution of the Merger and Purchase Agreement, the Purchasers have delivered to EFH Corp. an offer to purchase substantially all of the outstanding IPO Units (as defined in the Investor Rights Agreement) in the IPO corporation and all of the LLC Units (as defined in the Investor Rights Agreement) in Oncor held by Texas Transmission (the Texas Transmission Acquisition). EFH Corp. has instituted an adversary proceeding in the Bankruptcy Court to enforce certain rights against Texas Transmission under the Investor Rights Agreement (see Note 11).

Other

The Plan of Reorganization is subject to revision in response to creditor and/or stakeholder claims and objections and the requirements of the Bankruptcy Code and/or the Bankruptcy Court. Unless the Plan of Reorganization receives the requisite approval from the Bankruptcy Court, upon expiration of the exclusivity period (which has already been extended to the maximum period permitted by the Bankruptcy Code, but which has been, as described below, contractually extended with certain creditors), any creditor or stakeholder would have the ability to file in the Chapter 11 Cases one or more Chapter 11 plans of reorganization. Under an agreed stipulation approved by the Bankruptcy Court, if the exclusivity period has not been terminated by December 29, 2015, certain creditor constituencies have agreed that they will not file a chapter 11 plan of reorganization (or a disclosure statement) or cause such a filing until the Bankruptcy Court issues a final ruling regarding the confirmation of the Plan of Reorganization and that until the issuance of such a ruling, the Debtors will prosecute the Plan of Reorganization with reasonable diligence.

The Plan of Reorganization and the Disclosure Statement contain or discuss certain projections of certain of the Debtors' financial performance for fiscal years 2015 through 2020. The Debtors do not, as a matter of course, publish their business plans, budgets or strategies, or make external projections or forecasts of their anticipated financial position or results of operations. The projections reflected numerous assumptions concerning our anticipated future performance and prevailing and anticipated market and economic conditions at the time they were prepared that were and continue to be beyond our control and that may not materialize. Projections are inherently subject to uncertainties and to a wide variety of significant business, economic and competitive risks, including those risks discussed in Part I, Item 1A. Risk Factors in our 2014 Form 10-K and our subsequent quarterly reports on Form 10-Q. Our actual results will vary from those contemplated by the projections and the variations may be material.

Nothing contained in this quarterly report on Form 10-Q is intended to be, nor should it be construed as, a solicitation for a vote on the Plan of Reorganization, as filed or as it may be amended. The Plan of Reorganization will become effective only if it is confirmed by the Bankruptcy Court and the conditions to consummation set forth therein are satisfied. There can be no assurance that the Bankruptcy Court will confirm the Plan of Reorganization or that the conditions to consummation of the Plan of Reorganization will be satisfied.

Scheduling Matters

In August 2015, the Bankruptcy Court issued an order establishing November 3, 2015 as the date for the commencement of the hearing to confirm the Plan of Reorganization (the Confirmation Hearing Commencement Date).The Confirmation Hearing Commencement Date could be changed by the Bankruptcy Court (on its own, upon the motion of a party or upon the Debtors' request).

Mediation

In May 2015, the Bankruptcy Court issued an order authorizing and establishing mediation between the Debtors and certain TCEH stakeholders with respect to Plan of Reorganization issues that affect the TCEH Debtors' estates. In October 2015, the parties to the mediation and the mediator agreed to extend mediation to January 15, 2016 unless otherwise extended or terminated by the Bankruptcy Court or the mediator.

Tax Matters

In June 2014, EFH Corp. filed a request with the IRS for a private letter ruling, which request has been supplemented from time to time in response to requests from the IRS for information or as required by changes in the contemplated transactions (as supplemented, the Private Letter Ruling). It is expected that, among other things, the Private Letter Ruling if obtained will provide (A) for certain rulings regarding the qualification of (i) the transfer of certain assets and ordinary course operating liabilities to a newly-formed entity wholly-owned by TCEH (Reorganized TCEH) and (ii) the distribution of the equity of Reorganized TCEH, the cash proceeds from Reorganized TCEH debt, the cash proceeds from the sale of preferred stock in a newly-formed entity, and the right to receive payments under a tax receivables agreement (if any), to holders of TCEH first lien claims under Sections 368(a)(1)(G), 355 and 356 of the Code and (B) certain rulings regarding the eligibility of EFH Corp. to qualify as a REIT for federal income tax purposes. The Debtors intend to continue to pursue the Private Letter Ruling to support the Plan of Reorganization.

Implications of the Chapter 11 Cases

Our ability to continue as a going concern is contingent upon, among other factors, our ability to comply with the financial and other covenants contained in the DIP Facilities described in Note 9, our ability to obtain new debtor in possession financing in the event the DIP Facilities were to expire during the pendency of the Chapter 11 Cases and our ability to complete a Chapter 11 plan of reorganization in a timely manner, including obtaining creditor and Bankruptcy Court approval of such plan as well as applicable regulatory approvals required for such plan and obtaining any exit financing needed to implement such plan. These circumstances and uncertainties inherent in the bankruptcy proceedings raise substantial doubt about our ability to continue as a going concern.

Operations During the Chapter 11 Cases

In general, the Debtors have received final bankruptcy court orders with respect to first day motions and other operating motions that allow the Debtors to operate their businesses in the ordinary course, including, among others, providing for the payment of certain pre-petition employee and retiree expenses and benefits, the use of the Debtors' existing cash management system, the segregation of certain cash balances which require further order of the Bankruptcy Court for distribution, the continuation of customer contracts and programs at our retail electricity operations, the payment of certain pre-petition amounts to certain critical vendors, the ability to perform under certain pre-petition hedging and trading arrangements and the ability to pay certain pre-petition taxes and regulatory fees. In addition, the Bankruptcy Court has issued orders approving the DIP Facilities discussed in Note 9.

Pursuant to the Bankruptcy Code, the Debtors intend to comply with all applicable regulatory requirements, including all requirements related to environmental and safety law compliance, during the pendency of the Chapter 11 Cases. Further, the Debtors have been complying, and intend to continue to comply, with the various reporting obligations that are required by the Bankruptcy Court during the pendency of the Chapter 11 Cases. Moreover, to the extent the Debtors either maintain insurance policies or self-insure their regulatory compliance obligations, the Debtors intend to continue such insurance policies or self-insurance in the ordinary course of business.

Pre-Petition Claims

Holders of the substantial majority of pre-petition claims were required to file proofs of claims by the bar date established by the Bankruptcy Court. A bar date is the date by which certain claims against the Debtors must be filed if the claimants wish to receive any distribution in the Chapter 11 Cases. The Bankruptcy Court established a bar date of October 27, 2014 for the substantial majority of claims. In addition, in July 2015, the Bankruptcy Court entered an order establishing December 14, 2015 as the bar date for certain asbestos claims that arose or are deemed to have arisen before the Petition Date, except for certain specifically exempt claims.

We have received approximately 13,900 filed claims since the Petition Date. We are in the process of reconciling those claims to the amounts listed in our schedules of assets and liabilities, which includes communications with claimants to acquire additional information required for reconciliation. As of November 3, 2015, approximately 5,000 of those claims have been settled, withdrawn or expunged. To the extent claims are reconciled and resolved, we have recorded them at the expected allowed amount. Claims that remain unresolved or unreconciled through the filing of this report have been estimated based upon management's best estimate of the likely claim amounts that the Bankruptcy Court will ultimately allow.

Beginning in November 2014, we began the process to request the Bankruptcy Court to disallow claims that we believe are duplicative, have been later amended or superseded, are without merit, are overstated or should be disallowed for other reasons. Given the substantial number of claims filed, the claims resolution process will take considerable time to complete. Differences between liability amounts recorded by the Debtors as liabilities subject to compromise and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination of the allowable claim. Differences between those final allowed claims and the liabilities recorded in the condensed consolidated balance sheets will be recognized as reorganization items in our condensed statements of consolidated income (loss) as they are resolved. The determination of how liabilities will ultimately be resolved cannot be made until the Bankruptcy Court approves a plan of reorganization or approves orders related to settlement of specific liabilities. Accordingly, the ultimate amount or resolution of such liabilities is not determinable at this time. The resolution of such claims could result in material adjustments to our financial statements.

Executory Contracts and Unexpired Leases

Under the Bankruptcy Code, we have the right to assume, assume and assign, or reject certain executory contracts and unexpired leases, subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the assumption of an executory contract or unexpired lease requires a debtor to satisfy pre-petition obligations under contracts, which may include payment of pre-petition liabilities in whole or in part. Rejection of an executory contract or unexpired lease is typically treated as a breach occurring as of the moment immediately preceding the Chapter 11 filing. Subject to certain exceptions, this rejection relieves the debtor from performing its future obligations under the contract but entitles the counterparty to assert a pre-petition general unsecured claim for damages. Parties to executory contracts or unexpired leases rejected by a debtor may file proofs of claim against that debtor's estate for rejection damages.

Since the Petition Date, we have renegotiated or rejected a limited number of executory contracts and unexpired leases. For the three and nine months ended September 30, 2015, this activity has resulted in the recognition of approximately a $2 million benefit and a $26 million expense, respectively, in contract claim adjustments recorded in reorganization items as detailed in Note 8. The Plan Supplement includes a list of contracts that the Debtors intend to either assume or reject pursuant to the Bankruptcy Code.

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Equity (Tables)

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

The following table presents the changes to equity for the nine months ended September 30, 2015:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests		Total Equity
Balance at December 31, 2014	$	2	$	7,968	$	(27,563	)	$	(130	)	$	—	$	(19,723	)
Net loss	—		—		(3,199		)	—			—		(3,199		)
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(3		)	—		(3		)
Net effects of cash flow hedges	—		—		—			1			—		1
Net effects related to Oncor	—		—		—			2			—		2
Balance at September 30, 2015	$	2	$	7,968	$	(30,762	)	$	(130	)	$	—	$	(22,922	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2015. Outstanding shares totaled 1,669,861,379 and 1,669,861,379 at September 30, 2015 and December 31, 2014, respectively.

The following table presents the changes to equity for the nine months ended September 30, 2014:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests			Total Equity
Balance at December 31, 2013	$	2	$	7,962	$	(21,157	)	$	(63	)	$	1		$	(13,255	)
Net loss	—		—		(1,334		)	—			—			(1,334		)
Effects of stock-based incentive compensation plans	—		6		—			—			—			6
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(14		)	—			(14		)
Net effects of cash flow hedges	—		—		—			1			—			1
Investment by noncontrolling interests	—		—		—			—			1			1
Other	—		1		—			—			(2		)	(1		)
Balance at September 30, 2014	$	2	$	7,969	$	(22,491	)	$	(76	)	$	—		$	(14,596	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2014. Outstanding shares totaled 1,669,861,379 and 1,669,861,383 at September 30, 2014 and December 31, 2013, respectively.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2015. There was no other comprehensive income (loss) before reclassification for the period.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2014	$	(53	)	$	(77	)	$	(130	)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(2		)	(2		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(3		)	(3		)
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			1			2
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(2		)	—
Balance at September 30, 2015	$	(51	)	$	(79	)	$	(130	)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2014.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2013	$	(56	)	$	(7	)	$	(63	)
Other comprehensive loss before reclassifications (after tax)	—			(11		)	(11		)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(3		)	(3		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(2		)	(2		)
Interest expense and related charges	—			—			—
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			(1		)	—
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(4		)	(2		)
Total change during the period	2			(15		)	(13		)
Balance at September 30, 2014	$	(54	)	$	(22	)	$	(76	)

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Supplementary Financial Information (Fair Value of Debt) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Debtor-In-Possession Facility [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		$ 6,825	$ 6,825
Pre-Petition Notes, Loans And Other Debt (Reported As Liabilities Subject To Compromise) [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	[1]	35,412	35,857
Long-Term Debt, Including Amounts Due Currently [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		99	123
Fair Value, Inputs, Level 2 [Member] | Debtor-In-Possession Facility [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		6,815	6,830
Fair Value, Inputs, Level 2 [Member] | Pre-Petition Notes, Loans And Other Debt (Reported As Liabilities Subject To Compromise) [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		14,251	21,411
Fair Value, Inputs, Level 2 [Member] | Long-Term Debt, Including Amounts Due Currently [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		$ 102	$ 119

[1] Carrying amount excludes deferred debt issuance and extension costs.

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Variable Interest Entities (Oncor Holdings Financial Statements) (Details) - Oncor Holdings [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 1,072	$ 1,054	$ 2,957	$ 2,883
Operation and maintenance expenses	(387)	(376)	(1,134)	(1,074)
Depreciation and amortization	(217)	(218)	(653)	(638)
Taxes other than income taxes	(116)	(115)	(336)	(330)
Other income	1	3	5	10
Other deductions	(9)	(4)	(21)	(11)
Interest income	(1)	1	(1)	3
Interest expense and related charges	(84)	(89)	(250)	(266)
Income before income taxes	259	256	567	577
Income tax expense	(99)	(101)	(217)	(230)
Net income	160	155	350	347
Net income attributable to noncontrolling interests	(33)	(32)	(72)	(71)
Net income attributable to Oncor Holdings	127	$ 123	278	$ 276
Current assets:
Cash and cash equivalents	18		18		$ 5
Restricted cash	62		62		56
Trade accounts receivable — net	444		444		407
Trade accounts and other receivables from affiliates	156		156		118
Income taxes receivable from EFH Corp.	0		0		144
Inventories	80		80		73
Accumulated deferred income taxes	7		7		10
Prepayments and other current assets	93		93		91
Total current assets	860		860		904
Restricted cash	0		0		16
Other investments	95		95		97
Property, plant and equipment — net	12,908		12,908		12,463
Goodwill	4,064		4,064		4,064
Regulatory assets — net	1,177		1,177		1,429
Other noncurrent assets	71		71		67
Total assets	19,175		19,175		19,040
Current liabilities:
Short-term borrowings	708		708		711
Long-term debt due currently	86		86		639
Trade accounts payable — nonaffiliates	164		164		202
Income taxes payable to EFH Corp.	31		31		24
Accrued taxes other than income	150		150		174
Accrued interest	67		67		93
Other current liabilities	149		149		156
Total current liabilities	1,355		1,355		1,999
Accumulated deferred income taxes	1,918		1,918		1,978
Long-term debt, less amounts due currently	5,681		5,681		4,997
Other noncurrent liabilities and deferred credits	2,270		2,270		2,245
Total liabilities	$ 11,224		$ 11,224		$ 11,219

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Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise (Long-Term Debt Not Subject to Compromise) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities		$ 139	$ 167
Long-term debt due currently		(36)	(39)
Long-term debt, less amounts due currently		103	128
EFH Corp. [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities		41	47
Energy Future Competitive Holdings Company [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities		44	47
Debt Instrument, Unamortized premium (discount) fair value adjustments recorded under purchase accounting	[1]	(2)	(3)
Texas Competitive Electric Holdings Company LLC [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities		54	73
Capital lease obligations		40	44
Other Long-term Debt		2	2
Debt Instrument, Unamortized Discount		(1)	(2)
8.82% Building Financing due semiannually through February 11, 2022 [Member] | EFH Corp. [Member] | Building Financing [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities		35	40
Debt Instrument, Unamortized premium (discount) fair value adjustments recorded under purchase accounting	[1]	$ 6	7
Debt Instrument, Interest Rate, Stated Percentage		8.82%
Fixed 9.58% Notes due in annual installments through December 4, 2019 [Member] | Energy Future Competitive Holdings Company [Member] | Fixed Notes [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	[2]	$ 21	21
Debt Instrument, Interest Rate, Stated Percentage		9.58%
Fixed 8.254% Notes due in quarterly installments through December 31, 2021 [Member] | Energy Future Competitive Holdings Company [Member] | Fixed Notes [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	[2]	$ 25	29
Debt Instrument, Interest Rate, Stated Percentage		8.254%
Fixed 7.48% Secured Facility Bonds With Amortizing Payments Through January 2017 [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Fixed Secured Facility Bonds [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	[3]	$ 13	25
Debt Instrument, Interest Rate, Stated Percentage		7.48%
7.46% Fixed Secured Facility Bonds with amortizing payments through January 2015 [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Fixed Secured Facility Bonds [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	[3]	$ 0	$ 4
Debt Instrument, Interest Rate, Stated Percentage		7.46%

[1] Amount represents unamortized fair value adjustments recorded under purchase accounting.

[2] Approved by the Bankruptcy Court for repayment.

[3] Debt issued by trust and secured by assets held by the trust.

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Commodity And Other Derivative Contractual Assets And Liabilities (Concentrations of Credit Risk Related to Derivatives) (Details) - Texas Competitive Electric Holdings Company LLC [Member] - Credit Risk Contract [Member] $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)
Derivative [Line Items]
Total credit risk exposure to all counterparties related to derivative contracts	$ 506
Net exposure to those counterparties after taking into effect master netting arrangements, setoff provisions and collateral	237
Largest net exposure to single counterparty	$ 75
Credit risk exposure to Banking and financial sector percentage	74.00%
Net exposure to banking and financial sector percentage	52.00%

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Condensed Statements Of Consolidated Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating revenues	$ 1,737	$ 1,807	$ 4,265	$ 4,731
Fuel, purchased power costs and delivery fees	(831)	(868)	(2,090)	(2,256)
Net gain (loss) from commodity hedging and trading activities	103	75	226	(118)
Operating costs	(189)	(204)	(598)	(660)
Depreciation and amortization	(203)	(330)	(643)	(993)
Selling, general and administrative expenses	(192)	(183)	(547)	(594)
Impairment of goodwill	(700)	0	(1,400)	0
Impairment of long-lived assets	(1,295)	(9)	(1,971)	(30)
Other income	8	8	27	22
Other deductions	(26)	(5)	(86)	(7)
Interest income	0	0	0	1
Interest expense and related charges	(383)	(382)	(1,375)	(1,816)
Reorganization Items	(68)	(55)	(275)	(720)
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	(2,039)	(146)	(4,467)	(2,440)
Income tax benefit	452	72	990	830
Equity in earnings of unconsolidated subsidiaries (net of tax)	127	123	278	276
Net income (loss)	$ (1,460)	$ 49	$ (3,199)	$ (1,334)

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Income Taxes (Calculation of Effective Tax Rate)(Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	$ (2,039)	$ (146)	$ (4,467)	$ (2,440)
Income tax benefit	$ 452	$ 72	$ 990	$ 830
Effective tax rate	22.20%	49.30%	22.20%	34.00%
Effective tax rate at federal statutory rate	35.00%	35.00%	35.00%	35.00%

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Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 2,501	$ 3,428
Restricted cash	368	6
Trade accounts receivable — net	770	589
Inventories	388	468
Commodity and other derivative contractual assets	393	492
Other current assets	88	100
Total current assets	4,508	5,083
Restricted cash	506	901
Receivable from unconsolidated subsidiary	47	47
Investment in unconsolidated subsidiary	6,131	6,058
Other investments	974	995
Property, plant and equipment — net	10,072	12,397
Goodwill	952	2,352
Identifiable intangible assets — net	1,163	1,315
Commodity and other derivative contractual assets	30	5
Accumulated deferred income taxes	48	0
Other noncurrent assets	97	95
Total assets	24,528	29,248
Current liabilities:
Borrowings under debtor-in-possession credit facilities due currently	6,825	0
Long-term debt due currently	36	39
Trade accounts payable	382	406
Net payables due to unconsolidated subsidiary	124	237
Commodity and other derivative contractual liabilities	160	316
Margin deposits related to commodity contracts	126	26
Accumulated deferred income taxes	129	135
Accrued taxes	111	157
Accrued interest	116	119
Other current liabilities	327	360
Total current liabilities	8,336	1,795
Borrowings under debtor-in-possession credit facilities	0	6,825
Long-term debt, less amounts due currently	103	128
Liabilities subject to compromise	36,924	37,432
Commodity and other derivative contractual liabilities	4	1
Accumulated deferred income taxes	0	713
Other noncurrent liabilities and deferred credits	2,083	2,077
Total liabilities	$ 47,450	$ 48,971
Commitments and Contingencies
Shareholders' equity	$ (22,922)	$ (19,723)
Total liabilities and equity	$ 24,528	$ 29,248

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Commitments And Contingencies (Narrative) (Details)	1 Months Ended			9 Months Ended
	Oct. 31, 2015	Aug. 31, 2015	Feb. 29, 2012	Sep. 30, 2015 USD ($)
Commitments and Contingencies [Line Items]
Number Of Rules Finalized By The EPA To Address Greenhouse Gas Emissions		2
EPA Rule Addressing Greenhouse Gas Emissions From Existing Electricity Generation Plants, State-Specific Emission Rate Goals, Percent Reduction From 2012 Levels To 2030 Levels		30.00%
Pending Litigation [Member] | EFIH First-Lien Makewhole Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				$ 432,000,000
Pending Litigation [Member] | EFIH Second-Lien Makewhole Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				455,000,000
Pending Litigation [Member] | EFH Corp. Senior Notes Makewhole Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				224,000,000
Pending Litigation [Member] | EFH Corp. Senior Notes Post-Petition Interest Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				56,000,000
Pending Litigation [Member] | EFH Corp. Senior LBO Notes Makewhole Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				1,000,000
Pending Litigation [Member] | EFH Corp. Senior LBO Notes Post-Petition Interest Claim [Member]
Commitments and Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				11,000,000
Pending Litigation [Member] | EPA Versus Luminant and Big Brown Power Company (Big Brown and Martin Lake Generation Facilities) [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Loss Contingency Damages Sought Value Per Day				32,500
Pending Litigation [Member] | EPA Versus Luminant and Big Brown Power Company (Big Brown and Martin Lake Generation Facilities) [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Loss Contingency Damages Sought Value Per Day				37,500
CSAPR [Member]
Commitments and Contingencies [Line Items]
Emissions budget generation assets lower sulfur dioxide requirements (as a percent)			6.00%
Emissions budget generation assets higher annual nitrogen oxides requirements (as a percent)			3.00%
Emissions budget generation assets higher seasonal nitrogen oxides requirements (as a percent)			2.00%
Financial Standby Letter of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member]
Commitments and Contingencies [Line Items]
Letters of Credit				364,000,000
Financial Standby Letter of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Support risk management and trading margin requirements, including over-the-counter hedging transactions and collateral postings with ERCOT [Member]
Commitments and Contingencies [Line Items]
Letters of Credit				203,000,000
Financial Standby Letter of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Support Executory Contracts And Insurance Agreements [Member]
Commitments and Contingencies [Line Items]
Letters of Credit				74,000,000
Financial Standby Letter of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Support Retail Electric Provider's financial requirements with the PUCT [Member]
Commitments and Contingencies [Line Items]
Letters of Credit				55,000,000
Financial Standby Letter of Credit [Member] | Texas Competitive Electric Holdings Company LLC [Member] | Miscellaneous credit support requirements [Member]
Commitments and Contingencies [Line Items]
Letters of Credit				$ 32,000,000
Subsequent Event [Member]
Commitments and Contingencies [Line Items]
EPA Rule Addressing Greenhouse Gas Emissions From Existing Electricity Generation Plants, Number Of States Challenging Rule	26

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Segment Information (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues (all Competitive Electric)	$	1,737		$	1,807		$	4,265		$	4,731
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	$	127		$	123		$	278		$	276
Net income (loss):
Competitive Electric	$	(1,517	)	$	(37	)	$	(3,068	)	$	(1,195	)
Regulated Delivery	127			123			278			276
Corporate and Other	(70		)	(37		)	(409		)	(415		)
Consolidated net income (loss)	$	(1,460	)	$	49		$	(3,199	)	$	(1,334	)

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Fair Value Measurements (Schedule of Changes in Fair Value of the Level 3 Assets and Liabilities (All Related to Commodity Contracts)) (Details) - Level 3 [Member] - Commodity contracts [Member] - Derivative financial instruments, assets and liabilities [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net asset (liability) balance at beginning of period		$ 44	$ 45	$ 35	$ (973)
Total unrealized valuation gains (losses)		(1)	(3)	13	(97)
Purchases, issuances and settlements:
Purchases	[1]	5	10	37	39
Issuances	[1]	(2)	(1)	(7)	(3)
Settlements	[1]	(19)	(21)	(44)	1,063
Transfers into Level 3	[2]	0	0	0	0
Transfers out of Level 3	[2]	0	(1)	(7)	0
Net change	[3]	(17)	(16)	(8)	1,002
Net asset (liability) balance at end of period		27	29	27	29
Unrealized valuation gains relating to instruments held at end of period		$ 1	$ 0	$ 1	$ 2

[1] Settlements reflect reversals of unrealized mark-to-market valuations previously recognized in net income. Purchases and issuances reflect option premiums paid or received. Settlement amounts in the nine months ended September 30, 2014 reflect termination of the TCEH interest rate swaps and include the reversal of a nonperformance risk adjustment

[2] Includes transfers due to changes in the observability of significant inputs. Transfers in and out occur at the end of each quarter, which is when the assessments are performed. All Level 3 transfers during the periods presented are in and out of Level 2.

[3] Substantially all changes in values of commodity contracts are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities. Activity excludes changes in fair value in the month the positions settled as well as amounts related to positions entered into and settled in the same quarter.

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Segment Information

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Our operations are aligned into two reportable business segments: Competitive Electric and Regulated Delivery. The segments are managed separately because they are strategic business units that offer different products or services and involve different risks.

The Competitive Electric segment is engaged in competitive market activities consisting of electricity generation, wholesale energy sales and purchases, commodity risk management and trading activities, and retail electricity operations for residential and business customers, all largely in the ERCOT market. These activities are conducted by TCEH.

The Regulated Delivery segment consists largely of our investment in Oncor. Oncor is engaged in regulated electricity transmission and distribution operations in Texas. These activities are conducted by Oncor, including its wholly owned bankruptcy-remote financing subsidiary. See Note 3 for discussion of the reporting of Oncor Holdings and, accordingly, the Regulated Delivery segment, as an equity method investment. See Note 15 for discussion of material transactions with Oncor, including payment to Oncor of electricity delivery fees, which are based on rates regulated by the PUCT.

Corporate and Other represents the remaining non-segment operations consisting primarily of discontinued businesses, general corporate expenses and interest and other expenses related to EFH Corp., EFIH and EFCH.

The business segment results reflect the application of ASC 852, Reorganizations. The accounting policies of the business segments are the same as those described in the summary of significant accounting policies in Note 1 to the Financial Statements in our 2014 Form 10-K. Our chief operating decision maker uses more than one measure to assess segment performance, including reported segment net income (loss), which is the measure most comparable to consolidated net income (loss) prepared based on GAAP. We account for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices or regulated rates. Certain shared services costs are allocated to the segments.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Operating revenues (all Competitive Electric)	$	1,737		$	1,807		$	4,265		$	4,731
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	$	127		$	123		$	278		$	276
Net income (loss):
Competitive Electric	$	(1,517	)	$	(37	)	$	(3,068	)	$	(1,195	)
Regulated Delivery	127			123			278			276
Corporate and Other	(70		)	(37		)	(409		)	(415		)
Consolidated net income (loss)	$	(1,460	)	$	49		$	(3,199	)	$	(1,334	)

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Supplementary Financial Information (Tables)

9 Months Ended

Sep. 30, 2015

Supplementary Financial Information [Abstract]

Schedule of other income and deductions

Other Income and Deductions

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Other income:
Office space rental income (a)	$	3	$	3	$	8	$	8
Sale of land (b)	—		2		6		2
Mineral rights royalty income (b)	1		1		3		3
Contract settlements (b)	2		—		2		—
All other	2		2		8		9
Total other income	$	8	$	8	$	27	$	22
Other deductions:
Impairment of favorable purchase contracts (Note 4) (b)	$	—	$	—	$	8	$	—
Impairment of emission allowances (Note 4) (b)	4		—		55		—
Impairment of mining development costs (Note 4) (b)	19		—		19		—
All other	3		5		4		7
Total other deductions	$	26	$	5	$	86	$	7

____________

(a) Reported in Corporate and Other.

(b) Reported in Competitive Electric segment.

Schedule of Interest Expense and Related Charges

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Interest paid/accrued on debtor-in-possession financing	$	74		$	74		$	221		$	88
Adequate protection amounts paid/accrued (a)	311			308			919			519
Interest paid/accrued on pre-petition debt (b)	—			3			243			1,152
Interest expense on pre-petition toggle notes payable in additional principal (Note 10)	—			—			—			65
Noncash realized net loss on termination of interest rate swaps (offset in unrealized net gain) (c)	—			—			—			1,237
Unrealized mark-to-market net gain on interest rate swaps	—			—			—			(1,303		)
Amortization of debt issuance, amendment and extension costs and discounts	—			—			—			67
Capitalized interest	(2		)	(3		)	(8		)	(14		)
Other	—			—			—			5
Total interest expense and related charges	$	383		$	382		$	1,375		$	1,816

____________

(a) Post-petition period only.

(b) For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps discussed in Note 14.

(c) Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

Schedule of restricted cash

Restricted Cash

	September 30, 2015				December 31, 2014
	Current Assets		Noncurrent Assets		Current Assets		Noncurrent Assets
Amounts related to TCEH's DIP Facility (Note 9)	$	364	$	—	$	—	$	350
Amounts related to TCEH's pre-petition Letter of Credit Facility (Note 10) (a)	—		506		—		551
Other	4		—		6		—
Total restricted cash	$	368	$	506	$	6	$	901

____________

(a)

Schedule of accounts, notes, loans and financing receivable

Allowance for Uncollectible Accounts Receivable

	Nine Months Ended September 30,
	2015			2014
Allowance for uncollectible accounts receivable at beginning of period	$	15		$	14
Increase for bad debt expense	29			30
Decrease for account write-offs	(28		)	(27		)
Allowance for uncollectible accounts receivable at end of period	$	16		$	17

Trade Accounts Receivable

	September 30, 2015			December 31, 2014
Wholesale and retail trade accounts receivable	$	786		$	604
Allowance for uncollectible accounts	(16		)	(15		)
Trade accounts receivable — net	$	770		$	589

Gross trade accounts receivable at September 30, 2015 and December 31, 2014 included unbilled revenues of $287 million and $239 million, respectively.

Schedule of inventories by major category

Inventories by Major Category

	September 30, 2015		December 31, 2014
Materials and supplies	$	215	$	214
Fuel stock	144		215
Natural gas in storage	29		39
Total inventories	$	388	$	468

Summary of other investments

Other Investments

	September 30, 2015		December 31, 2014
Nuclear plant decommissioning trust	$	874	$	893
Assets related to employee benefit plans, including employee savings programs, net of distributions	60		61
Land	36		37
Miscellaneous other	4		4
Total other investments	$	974	$	995

Summary of investments in the fund

The nuclear decommissioning trust fund is not a debtor under the Chapter 11 Cases. A summary of investments in the fund follows:

	September 30, 2015
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	304	$	11	$	(1	)	$	314
Equity securities (c)	289		279		(8		)	560
Total	$	593	$	290	$	(9	)	$	874

	December 31, 2014
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	288	$	13	$	—		$	301
Equity securities (c)	276		320		(4		)	592
Total	$	564	$	333	$	(4	)	$	893

____________

(a) Includes realized gains and losses on securities sold.

(b) The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's Investors Services, Inc. The debt securities are heavily weighted with municipal bonds. The debt securities had an average coupon rate of 3.58% and 4.35% at September 30, 2015 and December 31, 2014, respectively, and an average maturity of 7 years and 6 years at September 30, 2015 and December 31, 2014, respectively.

(c) The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index.

Summary of proceeds from sales of available-for-sale securities and the related realized gains and losses from such sales

The following table summarizes proceeds from sales of available-for-sale securities and the related realized gains and losses from such sales.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Realized gains	$	1		$	1		$	2		$	2
Realized losses	$	(2	)	$	—		$	(3	)	$	(1	)
Proceeds from sales of securities	$	242		$	165		$	315		$	250
Investments in securities	$	(247	)	$	(170	)	$	(328	)	$	(263	)

Schedule of asset retirement and mining reclamation obligations

The following table summarizes the changes to these obligations, reported in other current liabilities and other noncurrent liabilities and deferred credits in the condensed consolidated balance sheets, for the nine months ended September 30, 2015:

	Nuclear Plant Decommissioning		Mining Land Reclamation			Other			Total
Liability at December 31, 2014	$	413	$	165		$	36		$	614
Additions:
Accretion	19		15			4			38
Adjustment for new cost estimate (a)	70		—			—			70
Incremental reclamation costs (b)	—		—			59			59
Reductions:
Payments	—		(44		)	(1		)	(45		)
Liability at September 30, 2015	502		136			98			736
Less amounts due currently	—		(65		)	—			(65		)
Noncurrent liability at September 30, 2015	$	502	$	71		$	98		$	671

Schedule of other noncurrent liabilities and deferred credits

Other Noncurrent Liabilities and Deferred Credits

The balance of other noncurrent liabilities and deferred credits consists of the following:

	September 30, 2015		December 31, 2014
Uncertain tax positions, including accrued interest	$	53	$	74
Retirement plan and other employee benefits (a)	248		243
Asset retirement and mining reclamation obligations	671		560
Unfavorable purchase and sales contracts	549		566
Nuclear decommissioning fund excess over asset retirement obligation (Note 15)	372		479
Other	190		155
Total other noncurrent liabilities and deferred credits	$	2,083	$	2,077

____________

(a) Includes $47 million at both September 30, 2015 and December 31, 2014, representing pension liabilities related to Oncor (see Note 15).

Schedule of estimated amortization of unfavorable purchase and sales contracts for each of the next five fiscal years

The estimated amortization of unfavorable purchase and sales contracts for each of the next five fiscal years is as follows:

Year	Amount
2015	$	24
2016	$	24
2017	$	24
2018	$	24
2019	$	24

Schedule of fair value of debt

Fair Value of Debt

	September 30, 2015				December 31, 2014
Debt:	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Borrowings under debtor-in-possession credit facilities (Note 9)	$	6,825	$	6,815	$	6,825	$	6,830
Pre-petition notes, loans and other debt reported as liabilities subject to compromise (Note 10) (a)	$	35,412	$	14,251	$	35,857	$	21,411
Long-term debt not subject to compromise, excluding capital lease obligations (Note 9)	$	99	$	102	$	123	$	119

Schedule of supplemental cash flow information

Supplemental Cash Flow Information

	Nine Months Ended September 30,
	2015			2014
Cash payments related to:
Interest paid (a)	$	1,440		$	1,251
Capitalized interest	(8		)	(14		)
Interest paid (net of capitalized interest) (a)	$	1,432		$	1,237
Income taxes	$	51		$	55
Reorganization items (b)	$	229		$	69
Noncash investing and financing activities:
Construction expenditures (c)	$	64		$	77
Debt exchange and extension transactions (d)	$	—		$	(85	)
Income tax adjustment related to AMT utilization (e)	$	3		$	—

____________

(a) Net of amounts received under interest rate swap agreements. This amount also includes amounts paid for adequate protection.

(b) Represents cash payments for legal and other consulting services.

(c) Represents end-of-period accruals.

(d) For the nine months ended September 30, 2014, represents $1.836 billion principal amount of loans issued under the EFIH DIP Facility in excess of $1.673 billion principal amount of EFIH First Lien Notes exchanged and $78 million of related accrued interest (see Note 9).

(e) Represents a reduction to EFH Corp.'s investment in Oncor Holdings due to an income tax adjustment related to alternative minimum tax (AMT) utilization by Oncor.

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Business And Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation, Including Application of Bankruptcy Accounting

Basis of Presentation, Including Application of Bankruptcy Accounting

The condensed consolidated financial statements have been prepared in accordance with US GAAP. The condensed consolidated financial statements have been prepared as if EFH Corp. is a going concern and contemplate the realization of assets and liabilities in the normal course of business. The condensed consolidated financial statements reflect the application of Financial Accounting Standards Board Accounting Standards Codification (ASC) 852, Reorganizations. During the pendency of the Chapter 11 Cases, the Debtors will operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. ASC 852 applies to entities that have filed a petition for bankruptcy under Chapter 11 of the Bankruptcy Code. The guidance requires that transactions and events directly associated with the reorganization be distinguished from the ongoing operations of the business. In addition, the guidance provides for changes in the accounting and presentation of liabilities. See Notes 8 and 10 for discussion of these accounting and reporting changes.

Investments in unconsolidated subsidiaries, which are 50% or less owned and/or do not meet accounting standards criteria for consolidation, are accounted for under the equity method (see Note 3). Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and footnotes required by US GAAP, they should be read in conjunction with the audited financial statements and related notes included in our 2014 Form 10-K. The results of operations for an interim period may not give a true indication of results for a full year. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated.

Use of Estimates

Use of Estimates

Preparation of financial statements requires estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements and estimates of expected allowed claims. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information.

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Commodity And Other Derivative Contractual Assets And Liabilities (Derivative (Income Statement Presentation) and Derivative type (Income Statement Presentation of Loss Reclassified from Accumulated OCI into Income)) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014		Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss)		$ 130	$ 54	$ 281	$ (520)
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax		35		35			$ 36
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		(2)		(2)
Net gain from commodity hedging and trading activities [Member] | Commodity contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss)	[1]	130	54	281	(114)
Interest expense and related charges [Member] | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss)		0	0	0	(128)	[2]
Reorganization Items [Member] | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss)		$ 0	$ 0	$ 0	$ (278)

[1] Amount represents changes in fair value of positions in the derivative portfolio during the period, as realized amounts related to positions settled are assumed to equal reversals of previously recorded unrealized amounts.

[2] Includes unrealized mark-to-market net gain (loss) as well as the net realized effect on interest paid/accrued, both reported in Interest Expense and Related Charges

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Business And Significant Accounting Policies

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Business And Significant Accounting Policies

BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Description of Business

References in this report to "we," "our," "us" and "the Company" are to EFH Corp. and/or its subsidiaries, as apparent in the context. See Glossary for defined terms.

EFH Corp., a Texas corporation, is a Dallas-based holding company that conducts its operations principally through its TCEH and Oncor subsidiaries. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. TCEH is a holding company for subsidiaries engaged in competitive electricity market activities largely in Texas, including electricity generation, wholesale energy sales and purchases, commodity risk management and trading activities, and retail electricity operations. TCEH is a wholly owned subsidiary of EFCH, which is a holding company and a wholly owned subsidiary of EFH Corp. Oncor is engaged in regulated electricity transmission and distribution operations in Texas. Oncor provides distribution services to REPs, including subsidiaries of TCEH, which sell electricity to residential, business and other consumers. Oncor Holdings, a holding company that holds an approximate 80% equity interest in Oncor, is a wholly owned subsidiary of EFIH, which is a holding company and a wholly owned subsidiary of EFH Corp. Oncor Holdings and its subsidiaries (the Oncor Ring-Fenced Entities) are not consolidated in EFH Corp.'s financial statements in accordance with consolidation accounting standards related to variable interest entities (VIEs) (see Note 3).

Various ring-fencing measures have been taken to enhance the credit quality of Oncor. Such measures include, among other things: the sale in November 2008 of a 19.75% equity interest in Oncor to Texas Transmission; maintenance of separate books and records for the Oncor Ring-Fenced Entities; Oncor's board of directors being comprised of a majority of independent directors, and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. Moreover, Oncor's operations are conducted, and its cash flows managed, independently from the Texas Holdings Group.

Consistent with the ring-fencing measures discussed above, the assets and liabilities of the Oncor Ring-Fenced Entities have not been, and are not expected to be, substantively consolidated with the assets and liabilities of the Debtors in the Chapter 11 Cases.

We have two reportable segments: the Competitive Electric segment, consisting largely of TCEH, and the Regulated Delivery segment, consisting largely of our investment in Oncor. See Note 16 for further information concerning reportable business segments.

Bankruptcy Proceeding

On April 29, 2014 (the Petition Date), EFH Corp. and the substantial majority of its direct and indirect subsidiaries, including EFIH, EFCH and TCEH but excluding the Oncor Ring-Fenced Entities (collectively, the Debtors), filed voluntary petitions for relief (the Bankruptcy Filing) under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court). In September 2015, the Debtors filed the Plan of Reorganization and the Disclosure Statement. The Disclosure Statement was approved by the Bankruptcy Court in September 2015. In October 2015, the Debtors filed a plan supplement to the Plan of Reorganization that provides greater detail about the Plan of Reorganization and the Debtors post-emergence structure (the Plan Supplement).

Following the approval of the Disclosure Statement by the Bankruptcy Court, the Debtors solicited the vote of their required creditors for approval of the Plan of Reorganization. In October 2015, the required creditors voted to approve the Plan of Reorganization. The Bankruptcy Court hearing to review the Plan of Reorganization for confirmation is scheduled to begin on November 3, 2015. The Debtors cannot predict the outcome of the confirmation hearing. See Note 2 for further discussion regarding the Chapter 11 Cases and the Plan of Reorganization and the Disclosure Statement.

Basis of Presentation, Including Application of Bankruptcy Accounting

The condensed consolidated financial statements have been prepared in accordance with US GAAP. The condensed consolidated financial statements have been prepared as if EFH Corp. is a going concern and contemplate the realization of assets and liabilities in the normal course of business. The condensed consolidated financial statements reflect the application of Financial Accounting Standards Board Accounting Standards Codification (ASC) 852, Reorganizations. During the pendency of the Chapter 11 Cases, the Debtors will operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. ASC 852 applies to entities that have filed a petition for bankruptcy under Chapter 11 of the Bankruptcy Code. The guidance requires that transactions and events directly associated with the reorganization be distinguished from the ongoing operations of the business. In addition, the guidance provides for changes in the accounting and presentation of liabilities. See Notes 8 and 10 for discussion of these accounting and reporting changes.

Investments in unconsolidated subsidiaries, which are 50% or less owned and/or do not meet accounting standards criteria for consolidation, are accounted for under the equity method (see Note 3). Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and footnotes required by US GAAP, they should be read in conjunction with the audited financial statements and related notes included in our 2014 Form 10-K. The results of operations for an interim period may not give a true indication of results for a full year. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated.

Use of Estimates

Preparation of financial statements requires estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements and estimates of expected allowed claims. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information.

Changes in Accounting Standards

In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), Presentation of Financial Statements (Topic 205) and Property Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the requirements for reporting discontinued operations. The ASU states that a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on an entity's operations andfinancial results when the component of an entity or group of components of an entity meets the criteria to be classified as held for sale, is disposed of by sale, or is disposed of other than by sale. The amendments in this ASU also require additional disclosures about discontinued operations. ASU 2014-08 is effective for the Company for the first quarter of 2015. This new requirement is relevant to our presentation of the equity method investment in Oncor and our presentation of TCEH. The new guidance eliminated a scope exception previously applicable to equity method investments, resulting in the requirement of further analysis of the presentation of the Oncor equity method investment. Based on our analysis, ASU 2014-08 will not materially affect our results of operations, financial position, or cash flows, unless a sale of our Oncor investment and/or a spin-off of TCEH is approved by the Bankruptcy Court (see Note 2), at which time presentation as discontinued operations may be appropriate.

In February 2015, the FASB issued Accounting Standards Update 2015-02 (ASU 2015-02), Amendments to the Consolidation Analysis. The ASU is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015. Early adoption is permitted. The new consolidation standard changes the criteria a reporting enterprise uses to evaluate if certain legal entities, such as limited partnerships and similar entities, should be consolidated. We are in the process of assessing the effects of the application of the new guidance on our financial statements.

In April 2015, the FASB issued Accounting Standards Update 2015-03 (ASU 2015-03), Simplifying Balance Sheet Presentation by Presenting Debt Issuance Costs as a Deduction from Recognized Debt Liability. The ASU is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015. Early adoption is permitted. The new standard requires debt issuance costs to be classified as reductions to the face value of the related debt. We do not expect ASU 2015-03 to materially affect our financial position until we issue new debt. During the Chapter 11 Cases, debt issuance costs on prepetition debt subject to compromise will continue to be reported in liabilities subject to compromise. In August 2015, the FASB issued Accounting Standards Update 2015-15 (ASU 2015-15), Interest-Imputation of Interest (Topic 835-30) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line of Credit Arrangements. ASU 2015-15 provides guidance on the presentation of debt issuance costs associated with line-of-credit arrangements. Given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to line-of-credit arrangements, ASU 2015-15 allows an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit.

In May 2015, the FASB issued Accounting Standards Update 2015-07 (ASU 2015-07), Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share (or its Equivalent). The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with retrospective application to all periods presented. Early adoption is permitted. ASU 2015-07 removes the requirement to categorize within the fair value hierarchy investments for which fair values are estimated using the net asset value practical expedient provided by Accounting Standards Codification 820, Fair ValueMeasurement. Disclosures about investments in certain entities that calculate net asset value per share are limited under ASU 2015-07 to those investments for which the entity has elected to estimate the fair value using the net asset value practical expedient. We are currently evaluating the impact of the adoption of this ASU on our financial statements.

In August 2015, the FASB issued Accounting Standards Update 2015-13, Derivatives and Hedging (Topic 815), Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets. The ASU clarified that the use of locational marginal pricing by an independent system operator does not constitute net settlement of a contract for the purchase or sale of electricity if all the criterion of the normal purchase and normal sale scope exception are met, including physical delivery. The ASU was effective upon issuance and did not impact our financial statements.

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Condensed Statements Of Consolidated Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss)	$ (1,460)	$ 49	$ (3,199)	$ (1,334)
Other comprehensive income (loss), net of tax effects:
Effects related to pension and other retirement benefit obligations (net of tax benefit of $1, $6, $2 and $7)	(1)	(11)	(3)	(14)
Cash flow hedges derivative value net loss related to hedged transactions recognized during the period (net of tax benefit of $— in all periods)	0	0	1	1
Net effects related to Oncor — reported in equity in earnings of unconsolidated subsidiaries (net of tax expense of $— in all periods)	1	(1)	2	0
Total other comprehensive income (loss)	0	(12)	0	(13)
Comprehensive income (loss)	$ (1,460)	$ 37	$ (3,199)	$ (1,347)

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Commitments And Contingencies

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

COMMITMENTS AND CONTINGENCIES

Guarantees

We have entered into contracts that contain guarantees to unaffiliated parties that could require performance or payment under certain conditions. Material guarantees are discussed below.

See Notes 9 and 10 for discussion of guarantees and security for certain of our post-petition and pre-petition debt.

Letters of Credit

At September 30, 2015, TCEH had outstanding letters of credit under credit facilities totaling $364 million as follows:

• $203 million to support commodity risk management and trading margin requirements in the normal course of business, including over-the-counter hedging transactions and collateral postings with ERCOT;

• $74 million to support executory contracts and insurance agreements;

• $55 million to support TCEH's REP financial requirements with the PUCT, and

• $32 million for other credit support requirements.

The automatic stay under the Bankruptcy Code does not apply to letters of credit issued under the pre-petition credit facility and third parties may draw if the terms of a particular letter of credit so provide. See Note 10 for discussion of letter of credit draws in 2014 and 2015.

Litigation

Aurelius Derivative Claim — Aurelius Capital Master, Ltd. and ACP Master, Ltd. (Aurelius) filed a lawsuit in March 2013, amended in May 2013, in the US District Court for the Northern District of Texas (Dallas Division) against EFCH as a nominal defendant and each of the current directors and a former director of EFCH. In the lawsuit, Aurelius, as a creditor under the TCEH Senior Secured Facilities and certain TCEH secured bonds, both of which are guaranteed by EFCH, filed a derivative claim against EFCH and its directors. Aurelius alleged that the directors of EFCH breached their fiduciary duties to EFCH and its creditors, including Aurelius, by permitting TCEH to make certain loans "without collecting fair and reasonably equivalent value." The lawsuit sought recovery for the benefit of EFCH. In January 2014, the district court granted EFCH's and the directors' motion to dismiss and in February 2014 dismissed the lawsuit. Aurelius has appealed the district court's judgment to the US Court of Appeals for the Fifth Circuit (Fifth Circuit Court). The appeal was automatically stayed as a result of the Bankruptcy Filing. We cannot predict the outcome of this proceeding, including the financial effects, if any.

Make-whole Claims — In May 2014, the indenture trustee for the EFIH 10% First Lien Notes initiated litigation in the Bankruptcy Court seeking, among other things, a declaratory judgment that EFIH is obligated to pay a make-whole premium in connection with the cash repayment of the EFIH First Lien Notes discussed in Note 9 and that such make-whole premium is an allowed secured claim, or in the alternative, an allowed secured or unsecured claim for breach of contract (EFIH First Lien Make-whole Claims). The indenture trustee has alleged that the EFIH First Lien Make-whole Claims are valued at approximately $432 million plus reimbursement of expenses. The indenture trustee also filed a motion in May 2014 asking the Bankruptcy Court to lift the automatic stay for cause in order to allow the trustee's notice purporting to rescind the automatic acceleration of the EFIH First Lien Notes to take effect. Following argument and briefing on cross motions for summary judgment, in March 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors on almost all issues, including denying the indenture trustee's motion for summary judgment in full and granting the EFIH Debtors summary judgment on all but the issue of whether to lift the automatic stay. In July 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors on the issue of whether to lift the automatic stay. The result of these two rulings is that the Bankruptcy Court has found that no make-whole premium is due with respect to the EFIH 10% First Lien Notes. In July 2015, the first lien indenture trustee appealed the Bankruptcy Court's ruling to the United States District Court for the District of Delaware. The EFIH Debtors intend to vigorously defend against this appeal. We cannot predict the outcome of this appeal.

In June 2014, the indenture trustee for the EFIH Second Lien Notes initiated litigation in the Bankruptcy Court seeking similar relief with respect to the EFIH Second Lien Notes, including among other things, that EFIH is obligated to pay a make-whole premium in connection with any repayment of the EFIH Second Lien Notes and that such make-whole premium would be an allowed secured claim, or in the alternative, an allowed secured or unsecured claim for breach of contract (the EFIH Second Lien Make-whole Claims). If, as of September 30, 2015, the EFIH Second Lien Make-whole Claims were allowed, the amount of such claims would have been approximately $455 million plus reimbursement of expenses. In December 2014, the EFIH Debtors filed counterclaims for relief against the Second Lien indenture trustee, seeking declaratory relief that, among other things, EFIH is not obligated to pay a make-whole premium in connection with any repayment of the EFIH Second Lien Notes and that such make-whole premium, if owing, would not constitute an allowed secured claim (EFIH Second Lien Counterclaims). As a result of EFIH's partial repayment of the EFIH Second Lien Notes, the indenture trustee for the EFIH Second Lien Notes amended its complaint in April 2015, and the EFIH Debtors filed an answer to such complaint in April 2015. In July 2015, the EFIH Debtors filed a motion for summary judgment in the adversary proceeding. In October 2015, the Bankruptcy Court issued a ruling and order in favor of the EFIH Debtors. The order and ruling found that no make-whole premium is due with respect to the EFIH Second Lien Notes.

In December 2014, the EFIH Debtors initiated litigation against the indenture trustee for the EFIH PIK Notes seeking, among other things, a declaratory judgment that EFIH is not obligated to pay a redemption premium in connection with the cash repayment of the EFIH PIK Notes and that any post-petition interest owing on these notes is to be paid at the statutory Federal Judgment Rate of interest. In June 2015, the Bankruptcy Court issued an opinion and entered an order dismissing the EFIH Debtors' adversary proceeding. However, in its opinion, the Bankruptcy Court noted that as an alternative the EFIH Debtors may file a claim objection to the EFIH PIK noteholders' claims made in the Chapter 11 Cases. In July 2015, the EFIH Debtors filed a claim objection with the Bankruptcy Court regarding the EFIH PIK noteholders' claims for a redemption premium and post-petition interest at the contract rate under the EFIH PIK Notes. In October 2015, the Bankruptcy Court issued opinions in favor of the EFIH Debtors. One opinion found that no make-whole premium is due with respect to the EFIH PIK Notes. The second opinion found that the EFIH PIK noteholders' allowed claim does not, as a matter of law, include post-petition interest whether at the contract rate or the Federal Judgment Rate. This opinion did find, however, that, in connection with the confirmation of a Plan of Reorganization, the Bankruptcy Court could, at its discretion, grant post-petition interest as part of the EFIH PIK noteholders' allowed claim under general principals of equity and that such grant could be at the contract rate, the Federal Judgment Rate or any other amount that the Bankruptcy Court determines to be equitable. We cannot predict whether the Bankruptcy Court will decide to grant post-petition interest to the EFIH PIK noteholders as part of their allowed claim in connection with the confirmation of the Plan of Reorganization.

In October 2015, EFH Corp. filed a claim objection with the Bankruptcy Court with respect to the EFH Corp. Series P, Q and R Senior Notes (collectively, the EFH Legacy Notes) noteholders' claims for, among other things, make-whole premiums and post-petition interest. If, as of September 30, 2015, a make-whole claim and a post-petition interest claim were allowed, such claims would be $224 million and $56 million, respectively. In October 2015, the indenture trustee for the EFH Legacy Notes filed a response to this claim objection. No argument date has been set by the Bankruptcy Court regarding the EFH Legacy Notes claim objection. EFH Corp. intends to vigorously defend against the claims described above. We cannot predict the outcome of this proceeding.

In October 2015, EFH Corp. filed a claim objection with the Bankruptcy Court with respect to the EFH Corp. 10.875% Senior Notes and 11.25%/12% Senior Toggle Notes (collectively, the EFH LBO Notes) noteholders' claims for, among other things, optional redemption payment and post-petition interest. If, as of September 30, 2015, a redemption claim and a post-petition interest claim were allowed, such claims would be $1 million and $11 million, respectively. The indenture trustee for the EFH LBO Notes has not yet filed a response to this claim objection. No argument date has been set by the Bankruptcy Court regarding the EFH LBO Notes claim objection. EFH Corp. intends to vigorously defend against the claims described above. We cannot predict the outcome of this proceeding.

In addition, creditors may make additional claims in the Chapter 11 Cases for make-whole or redemption premiums in connection with repayments or settlement of other pre-petition debt. These claims could be material. There can be no assurance regarding the outcome of any of the litigation regarding the validity or, if deemed valid, the amount of these make-whole or redemption claims.

Potential Inter/Intra Debtor Claims— In August 2014, the Bankruptcy Court entered an order in the Chapter 11 Cases establishing discovery procedures governing, among other things, certain prepetition transactions among the various Debtors' estates. In February 2015, the ad hoc group of TCEH unsecured creditors; the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH; and the official committee representing unsecured interests at EFH and EFIH filed motions with the Bankruptcy Court seeking standing to prosecute derivative claims on behalf of TCEH relating to certain of these prepetition transactions. The claims asserted by the ad hoc group of TCEH unsecured creditors and the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH, are subject to the Settlement Agreement and the Plan Support Agreement, to which both groups are party. The Bankruptcy Court entered an order in September 2015 (a) adjourning the motions filed by the ad hoc group of TCEH unsecured creditors and the official committee representing unsecured interests at EFCH and its direct subsidiary, TCEH, pending further order of the Bankruptcy Court and subject to the terms of the Plan Support Agreement and (b) adjourning the motion filed by the official committee representing unsecured interests at EFH and EFIH (who is not party to the Settlement Agreement or the Plan Support Agreement) to January 2016.

The Settlement Agreement is anticipated to be heard in connection with the hearing to consider confirmation of the Plan of Reorganization. We cannot predict the timing or outcome of future proceedings, if any, related to these transactions. The outcome of any of these claims could be material and could affect the results of operations, liquidity or financial condition of a particular Debtor.

Adversary Complaint against Texas Transmission — In October 2015, as contemplated by the Merger and Purchase Agreement, EFH Corp. filed with the Bankruptcy Court an adversary complaint against Texas Transmission seeking a judgment from the Bankruptcy Court ordering Texas Transmission to comply with its obligation under the Investor Rights Agreement in connection with the transactions contemplated by the Merger and Purchase Agreement, including (a) in connection with the closing of the merger, selling its interests in Oncor to the Investor Group at the same price that the Investor Group has agreed to purchase EFH Corp equity under the Merger and Purchase Agreement and (b) cooperating with Oncor and EFH Corp. in implementing the IPO Conversion Plan contemplated by the Merger and Purchase Agreement in order to effectuate the REIT.

Litigation Related to EPA Reviews —In June 2008, the EPA issued an initial request for information to TCEH under the EPA's authority under Section 114 of the Clean Air Act (CAA). The stated purpose of the request is to obtain information necessary to determine compliance with the CAA, including New Source Review Standards and air permits issued by the TCEQ for the Big Brown, Monticello and Martin Lake generation facilities. In April 2013, we received an additional information request from the EPA under Section 114 related to the Big Brown, Martin Lake and Monticello facilities as well as an initial information request related to the Sandow 4 generation facility.

In July 2012, the EPA sent us a notice of violation alleging noncompliance with the CAA's New Source Review Standards and the air permits at our Martin Lake and Big Brown generation facilities. In July 2013, the EPA sent us a second notice of violation alleging noncompliance with the CAA's New Source Review Standards at our Martin Lake and Big Brown generation facilities, which the EPA said "superseded" its July 2012 notice. In August 2013, the US Department of Justice, acting as the attorneys for the EPA, filed a civil enforcement lawsuit against Luminant Generation Company LLC and Big Brown Power Company LLC in federal district court in Dallas, alleging violations of the CAA at our Big Brown and Martin Lake generation facilities. In August 2015, the district court issued its ruling on our motion to dismiss and granted the motion as to seven of the nine claims asserted by the EPA in the lawsuit. Two claims remain before the district court, and those are currently scheduled for trial in October 2017. We believe that we have complied with all requirements of the CAA and intend to vigorously defend against the remaining allegations. The lawsuit requests the maximum civil penalties available under the CAA to the government of up to $32,500 to $37,500 per day for each alleged violation, depending on the date of the alleged violation, and injunctive relief, including an order requiring the installation of best available control technology at the affected units. An adverse outcome could require substantial capital expenditures that cannot be determined at this time and could possibly require the payment of substantial penalties. We cannot predict the outcome of these proceedings, including the financial effects, if any.

Greenhouse Gas Emissions —The EPA has finalized two rules to address greenhouse gas (GHG) emissions from new, modified and reconstructed units, and existing electricity generation plants. In January 2014, the EPA proposed standards to regulate CO₂ emissions from new electricity generation plants. Luminant filed comments on the proposed standards for new sources in May 2014. In June 2014, the EPA proposed two additional rules: 1) guidelines for states to develop standards that address CO₂ emissions from existing electricity generation plants, and 2) proposed standards for modified and reconstructed electricity generation plants. The final rule for new and modified or reconstructed units were combined into one regulation in August 2015. The final rule for existing plants, also released in August 2015, would establish state-specific emission rate goals to reduce nationwide CO₂ emissions related to affected electricity generation units by over 30% from 2012 emission levels by 2030. In October 2015, the final rules, including the rule for existing plants, were published in the Federal Register. Immediately following publication of the rule for existing plants, a number of petitions for review were filed in the D.C. Circuit Court by various parties and groups challenging the rule, including challenges from twenty-six different states opposed to the rule as well as those from, among others, certain power generating companies, various business groups and some labor unions. Luminant also filed its own petition for review. In addition, several parties have filed motions to stay the implementation of the rule while the court reviews the legality of the rule for existing units. Along with several other companies, Luminant supported a motion to stay the rule filed by the Utility Air Regulatory Group by submitting a declaration in support of the stay. In August 2015, the EPA also proposed federal plan requirements and model rules for states to consider as they develop state plans to comply with the rules for GHG emissions. A federal plan would be deemed final for a state if a state fails to submit a state plan or if the EPA disapproves a submitted state plan. Comments on the federal plan proposal are due in January 2016. The EPA is expected to finalize the rule that establishes federal plan requirements by the summer of 2016. While we cannot predict the outcome of this rulemaking and legal proceedings on our results of operations, liquidity or financial condition, the impacts could be material.

Cross-State Air Pollution Rule (CSAPR)

In July 2011, the EPA issued the CSAPR, compliance with which would have required significant additional reductions of sulfur dioxide (SO₂) and nitrogen oxide (NO_x) emissions from our fossil fueled generation units. In February 2012, the EPA released a final rule (Final Revisions) and a proposed rule revising certain aspects of the CSAPR, including increases in the emissions budgets for Texas and our generation assets as compared to the July 2011 version of the rule. In June 2012, the EPA finalized the proposed rule (Second Revised Rule). As compared to the proposed revisions to the CSAPR issued by the EPA in October 2011, the Final Revisions and the Second Revised Rule finalize emissions budgets for our generation assets that are approximately 6% lower for SO₂, 3% higher for annual NO_x and 2% higher for seasonal NO_x.

The CSAPR became effective January 1, 2015. In July 2015, following a remand of the case from the US Supreme Court to consider further legal challenges, the D.C. Circuit Court unanimously ruled in favor of us and other petitioners, holding that the CSAPR emissions budgets over-controlled Texas and other states. The D.C. Circuit Court remanded those states' budgets to the EPA for prompt reconsideration. We plan to participate in the EPA's reconsideration process to develop increased budgets that do not over-control Texas. While we cannot predict the outcome of future proceedings related to the CSAPR, including the EPA's reconsideration of the CSAPR emissions budgets for affected states, based upon our current operating plans we do not believe that the CSAPR will cause any material operational, financial or compliance issues.

State Implementation Plan (SIP)

In February 2013, in response to a petition for rulemaking filed by the Sierra Club, the EPA proposed a rule requiring certain states to replace SIP exemptions for excess emissions during malfunctions with an affirmative defense. Texas was not included in that original proposal since it already had an EPA-approved affirmative defense provision in its SIP. In 2014, as a result of a D.C. Circuit Court decision striking down an affirmative defense in another EPA rule, the EPA revised its 2013 proposal to extend the EPA's proposed findings of inadequacy to states that have affirmative defense provisions, including Texas. The EPA's revised proposal would require Texas to remove or replace its EPA-approved affirmative defense provisions for excess emissions during startup, shutdown and maintenance events. We filed comments on the EPA proposal in November 2014. In May 2015, the EPA finalized the proposal. In June 2015, we filed a petition for review in the Fifth Circuit Court challenging certain aspects of the EPA's final rule as they apply to the Texas SIP. The State of Texas and other parties have also filed similar petitions in the Fifth Circuit Court. In August 2015, the Fifth Circuit Court transferred the petitions that Luminant and other parties filed to the D.C. Circuit Court, and in October 2015 the petitions were consolidated with the pending petitions challenging the EPA's action in the D.C. Circuit Court.

In June 2014, the Sierra Club filed a petition in the D.C. Circuit Court seeking review of several EPA regulations containing affirmative defenses for malfunctions, including the MATS rule for power plants. In the petition, the Sierra Club contends this affirmative defense is no longer permissible in light of a D.C. Circuit Court decision regarding similar defenses applicable to the cement industry. Luminant filed a motion to intervene in this case. In July 2014, the D.C. Circuit Court ordered the case stayed pending the EPA's consideration of a petition for administrative reconsideration of the regulations at issue. In December 2014, the EPA signed a proposal to make technical corrections to the MATS rule. We filed comments on this proposal in April 2015. Except as set forth above, we cannot predict the timing or outcome of future proceedings related to this petition, the petition for administrative reconsideration that is pending before the EPA or the financial effects of these proceedings, if any.

Other Matters

We are involved in various legal and administrative proceedings in the normal course of business, the ultimate resolutions of which, in the opinion of management, are not anticipated to have a material effect on our results of operations, liquidity or financial condition.

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Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 03, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Energy Future Holdings Corp /TX/
Entity Central Index Key	0001023291
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		1,669,861,379

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Equity

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Equity

EQUITY

EFH Corp. has not declared or paid any dividends since the Merger.

The agreement governing the TCEH DIP Facility generally restricts TCEH's ability to make distributions or loans to any of its parent companies or their subsidiaries unless such distributions or loans are expressly permitted under the agreement governing such facility.

The agreement governing the EFIH DIP Facility generally restricts EFIH's ability to make distributions or loans to any of its parent companies or their subsidiaries unless such distributions or loans are expressly permitted under the agreement governing such facility.

Under applicable law, we are prohibited from paying any dividend to the extent that immediately following payment of such dividend, there would be no statutory surplus or we would be insolvent. In addition, due to the Chapter 11 Cases, no dividends are eligible to be paid without the approval of the Bankruptcy Court.

Equity

The following table presents the changes to equity for the nine months ended September 30, 2015:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests		Total Equity
Balance at December 31, 2014	$	2	$	7,968	$	(27,563	)	$	(130	)	$	—	$	(19,723	)
Net loss	—		—		(3,199		)	—			—		(3,199		)
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(3		)	—		(3		)
Net effects of cash flow hedges	—		—		—			1			—		1
Net effects related to Oncor	—		—		—			2			—		2
Balance at September 30, 2015	$	2	$	7,968	$	(30,762	)	$	(130	)	$	—	$	(22,922	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2015. Outstanding shares totaled 1,669,861,379 and 1,669,861,379 at September 30, 2015 and December 31, 2014, respectively.

The following table presents the changes to equity for the nine months ended September 30, 2014:

	EFH Corp. Shareholders’ Equity
	Common Stock (a)		Additional Paid-in Capital		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests			Total Equity
Balance at December 31, 2013	$	2	$	7,962	$	(21,157	)	$	(63	)	$	1		$	(13,255	)
Net loss	—		—		(1,334		)	—			—			(1,334		)
Effects of stock-based incentive compensation plans	—		6		—			—			—			6
Change in unrecognized losses related to pension and OPEB plans	—		—		—			(14		)	—			(14		)
Net effects of cash flow hedges	—		—		—			1			—			1
Investment by noncontrolling interests	—		—		—			—			1			1
Other	—		1		—			—			(2		)	(1		)
Balance at September 30, 2014	$	2	$	7,969	$	(22,491	)	$	(76	)	$	—		$	(14,596	)

________________

(a) Authorized shares totaled 2,000,000,000 at September 30, 2014. Outstanding shares totaled 1,669,861,379 and 1,669,861,383 at September 30, 2014 and December 31, 2013, respectively.

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2015. There was no other comprehensive income (loss) before reclassification for the period.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2014	$	(53	)	$	(77	)	$	(130	)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(2		)	(2		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(3		)	(3		)
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			1			2
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(2		)	—
Balance at September 30, 2015	$	(51	)	$	(79	)	$	(130	)

The following table presents the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2014.

	Dedesignated Cash Flow Hedges – Interest Rate Swaps (Note 14)			Pension and Other Postretirement Employee Benefit Liabilities Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2013	$	(56	)	$	(7	)	$	(63	)
Other comprehensive loss before reclassifications (after tax)	—			(11		)	(11		)
Amounts reclassified from accumulated other comprehensive income (loss) and reported in:
Operating costs	—			(3		)	(3		)
Depreciation and amortization	1			—			1
Selling, general and administrative expenses	—			(2		)	(2		)
Interest expense and related charges	—			—			—
Income tax benefit (expense)	—			2			2
Equity in earnings of unconsolidated subsidiaries (net of tax)	1			(1		)	—
Total amount reclassified from accumulated other comprehensive income (loss) during the period	2			(4		)	(2		)
Total change during the period	2			(15		)	(13		)
Balance at September 30, 2014	$	(54	)	$	(22	)	$	(76	)

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Supplementary Financial Information (Property, Plant and Equipment) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment — net	$ 10,072	$ 12,397
Less accumulated amortization/depreciation	$ 4,200	$ 5,300
Minimum [Member] | Lignite- And Nuclear-Fueled Generation Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	17 years
Maximum [Member] | Lignite- And Nuclear-Fueled Generation Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	54 years

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Condensed Statements Of Consolidated Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Effects related to pension and other retirement benefit obligations, tax benefit	$ 1	$ 6	$ 2	$ 7
Cash flow hedges derivative value net loss related to hedged transactions recognized during the period, tax benefit	0	0	0	0
Net effects related to Oncor — reported in equity in earnings of unconsolidated subsidiaries, tax expense	$ 0	$ 0	$ 0	$ 0

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Impairment of Long-Lived Assets

9 Months Ended

Sep. 30, 2015

Impairment of Long-Lived Assets [Abstract]

Impairment of Long-Lived Assets

IMPAIRMENT OF LONG-LIVED ASSETS

Impairment of Lignite/Coal Fueled Generation and Mining Assets

We evaluated our generation assets for impairment during September 2015 as a result of an impairment indicator related to the continued decline in forecasted wholesale electricity prices in ERCOT. Our evaluation concluded that impairments existed at our Martin Lake, Sandow 4 and Sandow 5 generation facilities, and the carrying value for those facilities and related mining facilities were reduced in total by $1.295 billion. Our fair value measurement for these assets was determined based on an income approach that utilized probability-weighted estimates of discounted future cash flows, which were Level 3 fair value measurements (see Note 13). Key inputs into the fair value measurement for these assets included current forecasted wholesale electricity prices in ERCOT, forecasted fuel prices, capital and operating expenditure forecasts and discount rates.

We evaluated our generation assets for impairment during March 2015 as a result of an impairment indicator related to lower forecasted wholesale electricity prices in ERCOT. Our evaluation concluded that an impairment existed at our Big Brown generation facility, and the carrying value for that facility and related mining facility was reduced by $676 million. Our fair value measurement for these assets was determined based on an income approach that utilized probability-weighted estimates of discounted future cash flows, which were Level 3 fair value measurements (see Note 13). Key inputs into the fair value measurement for these assets included current forecasted wholesale electricity prices in ERCOT, forecasted fuel prices, capital and operating expenditure forecasts and discount rates.

In July 2015, we filed notice with ERCOT that we intend to seasonally suspend operations at a second of the three units at our Martin Lake generation facility, with the units returning to service for the peak demand months of summer. In June 2015, we also assessed whether this planned notice constituted an impairment indicator for the Martin Lake generation facility and concluded that since the decision is expected to result in improved cash flows for the plant, it was not an indicator of impairment.

In the three and nine months ended September 30, 2014, we wrote off previously incurred and deferred costs totaling $9 million and $30 million, respectively, for mining projects not expected to be completed due to economic forecasts and regulatory uncertainty. These charges have been recorded in impairment of long-lived assets in the Competitive Electric segment's results.

Additional material impairments may occur in the future with respect to these assets or other of our generation facilities if forward wholesale electricity prices continue to decline or forecasted costs of producing electricity at our generation facilities increase.

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Income Taxes

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

EFH Corp. files a US federal income tax return that includes the results of EFCH, EFIH, Oncor Holdings and TCEH. EFH Corp. is the corporate member of the EFH Corp. consolidated group, while each of EFIH, Oncor Holdings, EFCH and TCEH is classified as a disregarded entity for US federal income tax purposes. Oncor is a partnership for US federal income tax purposes and is not a corporate member of the EFH Corp. consolidated group. Pursuant to applicable US Treasury regulations and published guidance of the IRS, corporations that are members of a consolidated group have joint and several liability for the taxes of such group.

EFH Corp. and certain of its subsidiaries (including EFCH, EFIH, and TCEH, but not including Oncor Holdings and Oncor) are parties to a Federal and State Income Tax Allocation Agreement, which provides, among other things, that any corporate member or disregarded entity in the EFH Corp. group is required to make payments to EFH Corp. in an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return. EFH Corp., Oncor Holdings, Oncor and Oncor's minority investor are parties to a separate Federal and State Income Tax Allocation Agreement, which governs the computation of federal income tax liability among such parties, and similarly provides, among other things, that each of Oncor Holdings and Oncor will pay EFH Corp. its share of an amount calculated to approximate the amount of tax liability such entity would have owed if it filed a separate corporate tax return.

The calculation of our effective tax rate is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	$	(2,039	)	$	(146	)	$	(4,467	)	$	(2,440	)
Income tax benefit	$	452		$	72		$	990		$	830
Effective tax rate	22.2		%	49.3		%	22.2		%	34.0		%

For the three months ended September 30, 2015, the effective tax rate of 22.2% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to the nondeductible goodwill impairment charge (see Note 4) and nondeductible legal and other professional services costs related to the Chapter 11 Cases. For the three months ended September 30, 2014, the effective tax rate of 49.3% related to our income tax benefit was higher than the US Federal statutory rate of 35% due primarily to an income tax benefit related to an adjustment of reserves for uncertain tax positions for the 2007 tax year, partially offset by nondeductible legal and other professional services costs related to the Chapter 11 Cases.

For the nine months ended September 30, 2015, the effective tax rate of 22.2% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to nondeductible goodwill impairment charges (see Note 4) and nondeductible legal and other professional services costs related to the Chapter 11 Cases, partially offset by the difference in the forecasted effective tax rate and the statutory rate applied to long-lived and intangible asset impairment charges (see Notes 4 and 6) and the tax benefit recognized due to the Texas margin tax rate reduction in the second quarter of 2015. For the nine months ended September 30, 2014, the effective tax rate of 34.0% related to our income tax benefit was lower than the US Federal statutory rate of 35% due primarily to nondeductible legal and other professional services costs related to the Chapter 11 Cases, offset by an income tax benefit recorded in the third quarter of 2014 related to an adjustment of reserves for uncertain tax positions for the 2007 tax year.

Liability for Uncertain Tax Positions

In June 2015, we signed a final agreed Revenue Agent Report (RAR) with the IRS and associated documentation for the 2008 and 2009 tax years. The Bankruptcy Court approved our signing of the RAR in July 2015. As a result of receiving, agreeing to and signing the final RAR, we reduced the liability for uncertain tax positions by $23 million, resulting in a $20 million reclassification to the accumulated deferred income tax liability and the recording of a $3 million income tax benefit recorded in the Competitive Electric segment results. Total cash payment to be assessed by the IRS for tax years 2008 and 2009, but not paid during the pendency of the Chapter 11 Cases, is approximately $15 million, plus any interest that may be assessed.

In September 2014, we signed a final agreed RAR with the IRS and associated documentation for the 2007 tax year. The Bankruptcy Court approved our signing of the RAR in October 2014. As a result of receiving, agreeing to and signing the final RAR, we reduced the liability for uncertain tax positions by $58 million, resulting in a $19 million reclassification to the accumulated deferred income tax liability and the recording of a $39 million income tax benefit reflecting deductions related to lignite depletion and the release of accrued interest on uncertain tax positions. The adjustments did not result in a significant change to the originally filed tax return nor did it result in any cash tax or interest due. The total income tax benefit of $39 million reflected a $24 million income tax benefit recorded in Corporate and Other activities and a $15 million income tax benefit reported in the Competitive Electric segment results.

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Supplementary Financial Information

9 Months Ended

Sep. 30, 2015

Supplementary Financial Information [Abstract]

Supplementary Financial Information

SUPPLEMENTARY FINANCIAL INFORMATION

Other Income and Deductions

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Other income:
Office space rental income (a)	$	3	$	3	$	8	$	8
Sale of land (b)	—		2		6		2
Mineral rights royalty income (b)	1		1		3		3
Contract settlements (b)	2		—		2		—
All other	2		2		8		9
Total other income	$	8	$	8	$	27	$	22
Other deductions:
Impairment of favorable purchase contracts (Note 4) (b)	$	—	$	—	$	8	$	—
Impairment of emission allowances (Note 4) (b)	4		—		55		—
Impairment of mining development costs (Note 4) (b)	19		—		19		—
All other	3		5		4		7
Total other deductions	$	26	$	5	$	86	$	7

____________

(a) Reported in Corporate and Other.

(b) Reported in Competitive Electric segment.

Restricted Cash

	September 30, 2015				December 31, 2014
	Current Assets		Noncurrent Assets		Current Assets		Noncurrent Assets
Amounts related to TCEH's DIP Facility (Note 9)	$	364	$	—	$	—	$	350
Amounts related to TCEH's pre-petition Letter of Credit Facility (Note 10) (a)	—		506		—		551
Other	4		—		6		—
Total restricted cash	$	368	$	506	$	6	$	901

____________

(a) See Note 10 for discussion of letter of credit draws in 2015 and 2014.

Trade Accounts Receivable

	September 30, 2015			December 31, 2014
Wholesale and retail trade accounts receivable	$	786		$	604
Allowance for uncollectible accounts	(16		)	(15		)
Trade accounts receivable — net	$	770		$	589

Gross trade accounts receivable at September 30, 2015 and December 31, 2014 included unbilled revenues of $287 million and $239 million, respectively.

Allowance for Uncollectible Accounts Receivable

	Nine Months Ended September 30,
	2015			2014
Allowance for uncollectible accounts receivable at beginning of period	$	15		$	14
Increase for bad debt expense	29			30
Decrease for account write-offs	(28		)	(27		)
Allowance for uncollectible accounts receivable at end of period	$	16		$	17

Inventories by Major Category

	September 30, 2015		December 31, 2014
Materials and supplies	$	215	$	214
Fuel stock	144		215
Natural gas in storage	29		39
Total inventories	$	388	$	468

Other Investments

	September 30, 2015		December 31, 2014
Nuclear plant decommissioning trust	$	874	$	893
Assets related to employee benefit plans, including employee savings programs, net of distributions	60		61
Land	36		37
Miscellaneous other	4		4
Total other investments	$	974	$	995

Nuclear Decommissioning Trust — Investments in a trust that will be used to fund the costs to decommission the Comanche Peak nuclear generation plant are carried at fair value. Decommissioning costs are being recovered from Oncor's customers as a delivery fee surcharge over the life of the plant and deposited by TCEH in the trust fund. Income and expense associated with the trust fund and the decommissioning liability are offset by a corresponding change in a receivable/payable (currently a payable reported in noncurrent liabilities) that will ultimately be settled through changes in Oncor's delivery fees rates (see Note 15). The nuclear decommissioning trust fund is not a debtor under the Chapter 11 Cases. A summary of investments in the fund follows:

	September 30, 2015
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	304	$	11	$	(1	)	$	314
Equity securities (c)	289		279		(8		)	560
Total	$	593	$	290	$	(9	)	$	874

	December 31, 2014
	Cost (a)		Unrealized gain		Unrealized loss			Fair market value
Debt securities (b)	$	288	$	13	$	—		$	301
Equity securities (c)	276		320		(4		)	592
Total	$	564	$	333	$	(4	)	$	893

____________

(a) Includes realized gains and losses on securities sold.

(b) The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's Investors Services, Inc. The debt securities are heavily weighted with municipal bonds. The debt securities had an average coupon rate of 3.58% and 4.35% at September 30, 2015 and December 31, 2014, respectively, and an average maturity of 7 years and 6 years at September 30, 2015 and December 31, 2014, respectively.

(c) The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index.

Debt securities held at September 30, 2015 mature as follows: $96 million in one to five years, $85 million in five to ten years and $133 million after ten years.

The following table summarizes proceeds from sales of available-for-sale securities and the related realized gains and losses from such sales.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Realized gains	$	1		$	1		$	2		$	2
Realized losses	$	(2	)	$	—		$	(3	)	$	(1	)
Proceeds from sales of securities	$	242		$	165		$	315		$	250
Investments in securities	$	(247	)	$	(170	)	$	(328	)	$	(263	)

Property, Plant and Equipment

At September 30, 2015 and December 31, 2014, property, plant and equipment of $10.1 billion and $12.4 billion, respectively, is stated net of accumulated depreciation and amortization of $4.2 billion and $5.3 billion, respectively.

The estimated remaining useful lives of our lignite/coal and nuclear generation facilities range from 17 to 54 years. Those estimated lives are subject to change as market factors evolve, including changes in environmental regulation and wholesale electricity price forecasts.

Asset Retirement and Mining Reclamation Obligations

These liabilities primarily relate to nuclear generation plant decommissioning, land reclamation related to lignite mining, removal of lignite/coal fueled plant ash treatment facilities and generation plant asbestos removal and disposal costs. There is no earnings impact with respect to changes in the nuclear plant decommissioning liability, as all costs are recoverable through the regulatory process as part of Oncor's delivery fees.

In December 2014, the EPA signed the final Disposal of Coal Combustion Residuals from Electric Utilities rule (the CCR rule), and in April 2015, the rule was posted in the Federal Register. We have established an estimated $59 million asset retirement obligation related to the rule for our existing facilities.

The following table summarizes the changes to these obligations, reported in other current liabilities and other noncurrent liabilities and deferred credits in the condensed consolidated balance sheets, for the nine months ended September 30, 2015:

	Nuclear Plant Decommissioning		Mining Land Reclamation			Other			Total
Liability at December 31, 2014	$	413	$	165		$	36		$	614
Additions:
Accretion	19		15			4			38
Adjustment for new cost estimate (a)	70		—			—			70
Incremental reclamation costs (b)	—		—			59			59
Reductions:
Payments	—		(44		)	(1		)	(45		)
Liability at September 30, 2015	502		136			98			736
Less amounts due currently	—		(65		)	—			(65		)
Noncurrent liability at September 30, 2015	$	502	$	71		$	98		$	671

____________

(a) The adjustment for nuclear plant decommissioning resulted from a new cost estimate completed in the second quarter of 2015. In accordance with regulatory requirements, a new cost estimate is completed every five years. The increase in the liability was driven by increased security and fuel-handling costs.

(b) The adjustment for other asset retirement obligations resulted from the effect on our estimated retirement obligation related to coal combustion residual facilities at our lignite/coal fueled generation facilities that arose from the CCR rule discussed above.

Other Noncurrent Liabilities and Deferred Credits

The balance of other noncurrent liabilities and deferred credits consists of the following:

	September 30, 2015		December 31, 2014
Uncertain tax positions, including accrued interest	$	53	$	74
Retirement plan and other employee benefits (a)	248		243
Asset retirement and mining reclamation obligations	671		560
Unfavorable purchase and sales contracts	549		566
Nuclear decommissioning fund excess over asset retirement obligation (Note 15)	372		479
Other	190		155
Total other noncurrent liabilities and deferred credits	$	2,083	$	2,077

____________

(a) Includes $47 million at both September 30, 2015 and December 31, 2014, representing pension liabilities related to Oncor (see Note 15).

Unfavorable Purchase and Sales Contracts — The amortization of unfavorable purchase and sales contracts totaled $6 million for both the three months ended September 30, 2015 and 2014 and $17 million for both the nine months ended September 30, 2015 and 2014. See Note 4 for intangible assets related to favorable purchase and sales contracts.

The estimated amortization of unfavorable purchase and sales contracts for each of the next five fiscal years is as follows:

Year	Amount
2015	$	24
2016	$	24
2017	$	24
2018	$	24
2019	$	24

Fair Value of Debt

	September 30, 2015				December 31, 2014
Debt:	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Borrowings under debtor-in-possession credit facilities (Note 9)	$	6,825	$	6,815	$	6,825	$	6,830
Pre-petition notes, loans and other debt reported as liabilities subject to compromise (Note 10) (a)	$	35,412	$	14,251	$	35,857	$	21,411
Long-term debt not subject to compromise, excluding capital lease obligations (Note 9)	$	99	$	102	$	123	$	119

____________

(a) Carrying amount excludes deferred debt issuance and extension costs.

We determine fair value in accordance with accounting standards as discussed in Note 13, and at September 30, 2015, our debt fair value represents Level 2 valuations. We obtain security pricing from an independent party who uses broker quotes and third-party pricing services to determine fair values. Where relevant, these prices are validated through subscription services such as Bloomberg.

Supplemental Cash Flow Information

	Nine Months Ended September 30,
	2015			2014
Cash payments related to:
Interest paid (a)	$	1,440		$	1,251
Capitalized interest	(8		)	(14		)
Interest paid (net of capitalized interest) (a)	$	1,432		$	1,237
Income taxes	$	51		$	55
Reorganization items (b)	$	229		$	69
Noncash investing and financing activities:
Construction expenditures (c)	$	64		$	77
Debt exchange and extension transactions (d)	$	—		$	(85	)
Income tax adjustment related to AMT utilization (e)	$	3		$	—

____________

(a) Net of amounts received under interest rate swap agreements. This amount also includes amounts paid for adequate protection.

(b) Represents cash payments for legal and other consulting services.

(c) Represents end-of-period accruals.

(d) For the nine months ended September 30, 2014, represents $1.836 billion principal amount of loans issued under the EFIH DIP Facility in excess of $1.673 billion principal amount of EFIH First Lien Notes exchanged and $78 million of related accrued interest (see Note 9).

(e) Represents a reduction to EFH Corp.'s investment in Oncor Holdings due to an income tax adjustment related to alternative minimum tax (AMT) utilization by Oncor.

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Fair Value Measurements

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Accounting standards related to the determination of fair value define fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between willing market participants at the measurement date. We use a "mid-market" valuation convention (the mid-point price between bid and ask prices) as a practical expedient to measure fair value for the majority of our assets and liabilities subject to fair value measurement on a recurring basis. We primarily use the market approach for recurring fair value measurements and use valuation techniques to maximize the use of observable inputs and minimize the use of unobservable inputs.

We categorize our assets and liabilities recorded at fair value based upon the following fair value hierarchy:

• Level 1 valuations use quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 assets and liabilities include exchange-traded commodity contracts. For example, some of our derivatives are NYMEX or ICE futures and swaps transacted through clearing brokers for which prices are actively quoted.

• Level 2 valuations use inputs that, in the absence of actively quoted market prices, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: (a) quoted prices for similar assets or liabilities in active markets, (b) quoted prices for identical or similar assets or liabilities in markets that are not active, (c) inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves observable at commonly quoted intervals and (d) inputs that are derived principally from or corroborated by observable market data by correlation or other mathematical means. Our Level 2 valuations utilize over-the-counter broker quotes, quoted prices for similar assets or liabilities that are corroborated by correlations or other mathematical means, and other valuation inputs. For example, our Level 2 assets and liabilities include forward commodity positions at locations for which over-the-counter broker quotes are available.

• Level 3 valuations use unobservable inputs for the asset or liability. Unobservable inputs are used to the extent observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. We use the most meaningful information available from the market combined with internally developed valuation methodologies to develop our best estimate of fair value. For example, our Level 3 assets and liabilities include certain derivatives with values derived from pricing models that utilize multiple inputs to the valuations, including inputs that are not observable or easily corroborated through other means. See further discussion below.

Our valuation policies and procedures are developed, maintained and validated by a centralized risk management group that reports to the Chief Financial Officer, who also functions as the Chief Risk Officer. Risk management functions include commodity price reporting and validation, valuation model validation, risk analytics, risk control, credit risk management and risk reporting.

We utilize several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those items that are measured on a recurring basis. These methods include, among others, the use of broker quotes and statistical relationships between different price curves.

In utilizing broker quotes, we attempt to obtain multiple quotes from brokers (generally non-binding) that are active in the commodity markets in which we participate (and require at least one quote from two brokers to determine a pricing input as observable); however, not all pricing inputs are quoted by brokers. The number of broker quotes received for certain pricing inputs varies depending on the depth of the trading market, each individual broker's publication policy, recent trading volume trends and various other factors. In addition, for valuation of interest rate swaps, we used generally accepted interest rate swap valuation models utilizing month-end interest rate curves.

Probable loss from default by either us or our counterparties is considered in determining the fair value of derivative assets and liabilities. These non-performance risk adjustments take into consideration credit enhancements and the credit risks associated with our credit standing and the credit standing of our counterparties (see Note 14 for additional information regarding credit risk associated with our derivatives). We utilize published credit ratings, default rate factors and debt trading values in calculating these fair value measurement adjustments.

Certain derivatives and financial instruments are valued utilizing option pricing models that take into consideration multiple inputs including, but not limited to, commodity prices, volatility factors, discount rates and other market based factors. Additionally, when there is not a sufficient amount of observable market data, valuation models are developed that incorporate proprietary views of market factors. Significant unobservable inputs used to develop the valuation models include volatility curves, correlation curves, illiquid pricing locations and credit/non-performance risk assumptions. Those valuation models are generally used in developing long-term forward price curves for certain commodities. We believe the development of such curves is consistent with industry practice; however, the fair value measurements resulting from such curves are classified as Level 3.

The significant unobservable inputs and valuation models are developed by employees trained and experienced in market operations and fair value measurements and validated by the company's risk management group, which also further analyzes any significant changes in Level 3 measurements. Significant changes in the unobservable inputs could result in significant upward or downward changes in the fair value measurement.

With respect to amounts presented in the following fair value hierarchy tables, the fair value measurement of an asset or liability (e.g., a contract) is required to fall in its entirety in one level, based on the lowest level input that is significant to the fair value measurement. Certain assets and liabilities would be classified in Level 2 instead of Level 3 of the hierarchy except for the effects of credit reserves and non-performance risk adjustments, respectively. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability being measured.

Assets and liabilities measured at fair value on a recurring basis consisted of the following:

September 30, 2015
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	328	$	45	$	34	$	16	$	423
Nuclear decommissioning trust – equity securities (c)	355		205		—		—		560
Nuclear decommissioning trust – debt securities (c)	—		314		—		—		314
Total assets	$	683	$	564	$	34	$	16	$	1,297
Liabilities:
Commodity contracts	$	108	$	33	$	7	$	16	$	164
Total liabilities	$	108	$	33	$	7	$	16	$	164

December 31, 2014
	Level 1		Level 2		Level 3 (a)		Reclassification (b)		Total
Assets:
Commodity contracts	$	402	$	46	$	49	$	—	$	497
Nuclear decommissioning trust – equity securities (c)	375		217		—		—		592
Nuclear decommissioning trust – debt securities (c)	—		301		—		—		301
Total assets	$	777	$	564	$	49	$	—	$	1,390
Liabilities:
Commodity contracts	$	278	$	25	$	14	$	—	$	317
Total liabilities	$	278	$	25	$	14	$	—	$	317

____________

(a) See table below for description of Level 3 assets and liabilities.

(b) Fair values are determined on a contract basis, but certain contracts result in a current asset and a noncurrent liability, or vice versa, as presented in the condensed consolidated balance sheets.

(c) The nuclear decommissioning trust investment is included in the other investments line in the condensed consolidated balance sheets. See Note 17.

Commodity contracts consist primarily of natural gas, electricity, fuel oil, uranium and coal agreements and include financial instruments entered into for hedging purposes as well as physical contracts that have not been designated normal purchases or sales. See Note 14 for further discussion regarding derivative instruments, including the termination of certain natural gas hedging agreements shortly after the Bankruptcy Filing.

Nuclear decommissioning trust assets represent securities held for the purpose of funding the future retirement and decommissioning of our nuclear generation facility. These investments include equity, debt and other fixed-income securities consistent with investment rules established by the NRC and the PUCT.

There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy for the three and nine months ended September 30, 2015 and 2014. See the table of changes in fair values of Level 3 assets and liabilities below for discussion of transfers between Level 2 and Level 3 for the three and nine months ended September 30, 2015 and 2014.

The following tables present the fair value of the Level 3 assets and liabilities by major contract type and the significant unobservable inputs used in the valuations at September 30, 2015 and December 31, 2014:

September 30, 2015
	Fair Value
Contract Type (a)	Assets		Liabilities			Total		Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	2	$	(1	)	$	1	Valuation Model	Illiquid pricing locations (c)	$25 to $40/ MWh
									Hourly price curve shape (d)	$15 to $55/ MWh
Electricity congestion revenue rights	27		(3		)	24		Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $10/MWh
Other (i)	5		(3		)	2
Total	$	34	$	(7	)	$	27

December 31, 2014
	Fair Value
Contract Type (a)	Assets		Liabilities			Total			Valuation Technique	Significant Unobservable Input	Range (b)
Electricity purchases and sales	$	4	$	(5	)	$	(1	)	Valuation Model	Illiquid pricing locations (c)	$30 to $50/ MWh
										Hourly price curve shape (d)	$20 to $70/ MWh
Electricity congestion revenue rights	38		(4		)	34			Market Approach (e)	Illiquid price differences between settlement points (f)	$0 to $20/MWh
Coal purchases	—		(4		)	(4		)	Market Approach (e)	Illiquid price variances between mines (g)	$0 to $1/ton
										Illiquid price variances between heat content (h)	$0 to $1/ton
Other (i)	7		(1		)	6
Total	$	49	$	(14	)	$	35

____________

(a) Electricity purchase and sales contracts include hedging positions in the ERCOT regions, as well as power contracts, the valuations of which include unobservable inputs related to the hourly shaping of the price curve. Electricity congestion revenue rights contracts consist of forward purchase contracts (swaps and options) used to hedge electricity price differences between settlement points within ERCOT. Coal purchase contracts relate to western (Powder River Basin) coal.

(b) The range of the inputs may be influenced by factors such as time of day, delivery period, season and location.

(c) Based on the historical range of forward average monthly ERCOT hub and load zone prices.

(d) Based on the historical range of forward average hourly ERCOT North Hub prices.

(e) While we use the market approach, there is either insufficient market data to consider the valuation liquid or the significance of credit reserves or non-performance risk adjustments results in a Level 3 designation.

(f) Based on the historical price differences between settlement points within the ERCOT hubs and load zones.

(g) Based on the historical range of price variances between mine locations.

(h) Based on historical ranges of forward average prices between different heat contents (potential energy in coal for a given mass).

(i) Other includes contracts for ancillary services, natural gas, power options, diesel options and coal options.

The following table presents the changes in fair value of the Level 3 assets and liabilities for the three and nine months ended September 30, 2015 and 2014.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Net asset (liability) balance at beginning of period	$	44		$	45		$	35		$	(973	)
Total unrealized valuation gains (losses)	(1		)	(3		)	13			(97		)
Purchases, issuances and settlements (a):
Purchases	5			10			37			39
Issuances	(2		)	(1		)	(7		)	(3		)
Settlements	(19		)	(21		)	(44		)	1,063
Transfers into Level 3 (b)	—			—			—			—
Transfers out of Level 3 (b)	—			(1		)	(7		)	—
Net change (c)	(17		)	(16		)	(8		)	1,002
Net asset balance at end of period	$	27		$	29		$	27		$	29
Unrealized valuation gains relating to instruments held at end of period	$	1		$	—		$	1		$	2

____________

(a) Settlements reflect reversals of unrealized mark-to-market valuations previously recognized in net income. Purchases and issuances reflect option premiums paid or received. Settlement amounts in the nine months ended September 30, 2014 reflect termination of the TCEH interest rate swaps and include the reversal of a nonperformance risk adjustment as discussed in Note 14.

(b) Includes transfers due to changes in the observability of significant inputs. Transfers in and out occur at the end of each quarter, which is when the assessments are performed. All Level 3 transfers during the periods presented are in and out of Level 2.

(c) Substantially all changes in values of commodity contracts are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities. Activity excludes changes in fair value in the month the positions settled as well as amounts related to positions entered into and settled in the same quarter.

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Supplementary Financial Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Millions		1 Months Ended	9 Months Ended
		Jun. 30, 2014	Sep. 30, 2015		Sep. 30, 2014
Cash payments related to:
Interest paid	[1]		$ 1,440		$ 1,251
Capitalized interest			(8)		(14)
Interest paid (net of capitalized interest)			1,432		1,237
Income taxes			51		55
Reorganization items	[2]		229		69
Noncash investing and financing activities:
Construction expenditures	[3]		64		77
Debt exchange and extension transactions			0		(85)	[4]
Income tax adjustment related to AMT utilization			$ 3	[5]	$ 0
Senior Secured Debt [Member] | Fixed Senior Secured First Lien 6.875% Notes and Fixed Senior Secured First Lien 10% Notes [Member] | Energy Future Intermediate Holding CO LLC [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Principal Amount Of Affiliate Debt Acquired In Exchange Transaction		$ 1,673
First-Lien Debtor-in-Possession Facility [Member] | Senior Secured Super-Priority First Lien Term Loan [Member] | Energy Future Intermediate Holding CO LLC [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Debtor-In-Possession Financing, Borrowings Used In Exchange Transaction For Pre-Petition Debt		1,836
First Lien Note Parties And Qualifying Holders of EFIH First Lien Notes Tendered By Participation Date [Member] | Senior Secured Debt [Member] | Fixed Senior Secured First Lien 6.875% Notes and Fixed Senior Secured First Lien 10% Notes [Member] | Energy Future Intermediate Holding CO LLC [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Debt Instrument, Increase, Accrued Interest		$ 78

[1] Net of amounts received under interest rate swap agreements. This amount also includes amounts paid for adequate protection.

[2] Represents cash payments for legal and other consulting services.

[3] Represents end-of-period accruals.

[4] For the nine months ended September 30, 2014, represents $1.836 billion principal amount of loans issued under the EFIH DIP Facility in excess of $1.673 billion principal amount of EFIH First Lien Notes exchanged and $78 million of related accrued interest

[5] Represents a reduction to EFH Corp.'s investment in Oncor Holdings due to an income tax adjustment related to alternative minimum tax (AMT) utilization by Oncor.

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Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise

9 Months Ended

Sep. 30, 2015

Debtor-In-Possession Obligations [Abstract]

Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise

DEBTOR-IN-POSSESSION BORROWING FACILITIES AND LONG-TERM DEBT NOT SUBJECT TO COMPROMISE

TCEH DIP Facility — The Bankruptcy Court approved the TCEH DIP Facility in June 2014. The TCEH DIP Facility currently provides for up to $3.375 billion in senior secured, super-priority financing consisting of a revolving credit facility of up to $1.95 billion and a term loan facility of up to $1.425 billion. The TCEH DIP Facility is a Senior Secured, Super-Priority Credit Agreement by and among the TCEH Debtors, the lenders that are party thereto from time to time and an administrative and collateral agent.

The TCEH DIP Facility and related available capacity at September 30, 2015 are presented below. Borrowings are reported in the condensed consolidated balance sheets as borrowings under debtor-in-possession credit facilities. In the September 30, 2015 condensed consolidated balance sheet the borrowings under the TCEH DIP Facility are reported as current liabilities since the maturity date of the facility was May 2016 as of such date. In October 2015, the TCEH Debtors paid an $8 million extension fee and extended the maturity date of the TCEH DIP Facility to the earlier of (a) November 2016 or (b) the effective date of any reorganization plan of TCEH. The terms of the facility were otherwise unchanged by the extension. In September 2015, the TCEH Debtors extended their use of cash collateral to the earlier of (a) the effective date of a plan of reorganization or (b) 60 days following termination of the Debtors' Plan Support Agreement, provided that the TCEH Debtors do not otherwise cause an event of default under the cash collateral order.

	September 30, 2015
TCEH DIP Facility	Facility Limit		Available Cash Borrowing Capacity		Available Letter of Credit Capacity
TCEH DIP Revolving Credit Facility (a)	$	1,950	$	1,950	$	—
TCEH DIP Term Loan Facility (b)	1,425		—		436
Total TCEH DIP Facility	$	3,375	$	1,950	$	436

___________

(a) Facility used for general corporate purposes. No amounts were borrowed at September 30, 2015. Pursuant to an order of the Bankruptcy Court, the TCEH Debtors may not have more than $1.650 billion of TCEH DIP Revolving Credit Facility cash borrowings outstanding without written consent of the TCEH committee of unsecured creditors and the ad hoc group of TCEH unsecured noteholders or further order of the Bankruptcy Court.

(b) Facility used for general corporate purposes, including but not limited to, $800 million for issuing letters of credit.

At both September 30, 2015 and December 31, 2014, all $1.425 billion of the TCEH DIP Term Loan Facility has been borrowed. Of this borrowing, $800 million represents amounts that support issuances of letters of credit and have been funded to a collateral account. Of the collateral account amount at September 30, 2015, $436 million is reported as cash and cash equivalents and $364 million is reported as restricted cash, which represents the amount of outstanding letters of credit.

Amounts borrowed under the TCEH DIP Facility bear interest based on applicable LIBOR rates, subject to a 0.75% floor, plus 3%. At both September 30, 2015 and December 31, 2014, the interest rate on outstanding borrowings was 3.75%. The TCEH DIP Facility also provides for certain additional fees payable to the agents and lenders, as well as availability fees payable with respect to any unused portions of the available TCEH DIP Facility.

The TCEH Debtors' obligations under the TCEH DIP Facility are secured by a lien covering substantially all of the TCEH Debtors' assets, rights and properties, subject to certain exceptions set forth in the TCEH DIP Facility. The TCEH DIP Facility provides that all obligations thereunder constitute administrative expenses in the Chapter 11 Cases, with administrative priority and senior secured status under the Bankruptcy Code and, subject to certain exceptions set forth in the TCEH DIP Facility, have priority over any and all administrative expense claims, unsecured claims and costs and expenses in the Chapter 11 Cases. EFCH is a parent guarantor to the agreement governing the TCEH DIP Facility along with substantially all of TCEH’s subsidiaries, including all subsidiaries that are Debtors in the Chapter 11 Cases.

The TCEH DIP Facility also permits certain hedging agreements to be secured on a pari-passu basis with the TCEH DIP Facility in the event those hedging agreements meet certain criteria set forth in the TCEH DIP Facility.

In June 2014, the RCT agreed to accept a collateral bond from TCEH of up to $1.1 billion, as a substitute for its self-bond, to secure mining land reclamation obligations. The collateral bond is a $1.1 billion carve-out from the super-priority liens under the TCEH DIP Facility that will enable the RCT to be paid before the TCEH DIP Facility lenders.

The TCEH DIP Facility provides for affirmative and negative covenants applicable to the TCEH Debtors, including affirmative covenants requiring the TCEH Debtors to provide financial information, budgets and other information to the agents under the TCEH DIP Facility, and negative covenants restricting the TCEH Debtors' ability to incur additional indebtedness, grant liens, dispose of assets, make investments, pay dividends or take certain other actions, in each case except as permitted in the TCEH DIP Facility. The TCEH Debtors' ability to borrow under the TCEH DIP Facility is subject to the satisfaction of certain customary conditions precedent set forth therein.

The TCEH DIP Facility provides for certain customary events of default, including events of default resulting from non-payment of principal, interest or other amounts when due, material breaches of representations and warranties, material breaches of covenants in the TCEH DIP Facility or ancillary loan documents, cross-defaults under other agreements or instruments and the entry of material judgments against the TCEH Debtors. The agreement governing the TCEH DIP Facility includes a covenant that requires the Consolidated Superpriority Secured Net Debt to Consolidated EBITDA ratio not exceed 3.50 to 1.00. Consolidated Superpriority Secured Net Debt consists of outstanding term loans and revolving credit exposure under the TCEH DIP Facility less unrestricted cash. Upon the existence of an event of default, the TCEH DIP Facility provides that all principal, interest and other amounts due thereunder will become immediately due and payable, either automatically or at the election of specified lenders.

EFIH DIP Facility, EFIH First Lien Notes Settlement and EFIH Second Lien Notes Repayment — The Bankruptcy Court approved the EFIH DIP Facility in June 2014. The EFIH DIP Facility provides for a $5.4 billion first-lien debtor-in-possession financing facility. Since inception, the facility has been utilized as follows:

• In June 2014, $1.836 billion of loans issued under the facility were issued as an exchange to holders of $1.673 billion principal amount of EFIH First Lien Notes plus accrued and unpaid interest totaling $78 million. Holders of substantially all of the principal amount exchanged received as payment in full a principal amount of loans under the DIP facility equal to 105% of the principal amount of the notes held plus 101% of the accrued and unpaid interest at the non-default rate on such principal;

• In June 2014, $2.438 billion of cash borrowings were used to repay all remaining $2.312 billion principal amount of EFIH First Lien Notes (plus accrued and unpaid interest totaling $128 million), and

• In March 2015, $750 million of cash borrowings were used to repay $445 million principal amount of EFIH Second Lien Notes (including accrued and unpaid pre-petition interest of $55 million and post-petition interest of $235 million) and certain fees (see Note 10).

As of September 30, 2015, remaining cash on hand from borrowings under the EFIH DIP Facility, net of fees, totaled approximately $370 million, which was held as cash and cash equivalents. In the September 30, 2015 condensed consolidated balance sheet, the borrowings under the EFIH DIP Facility are reported as current liabilities since the maturity date of the facility is June 2016.

The principal amounts outstanding under the EFIH DIP Facility bear interest based on applicable LIBOR rates, subject to a 1% floor, plus 3.25%. At both September 30, 2015 and December 31, 2014, outstanding borrowings under the EFIH DIP Facility totaled $5.4 billion at an annual interest rate of 4.25%. The EFIH DIP Facility is a non-amortizing loan that may, subject to certain limitations, be voluntarily prepaid by the EFIH Debtors, in whole or in part, without any premium or penalty.

The EFIH DIP Facility will mature on the earlier of (a) the effective date of any reorganization plan, (b) upon the event of the sale of substantially all of EFIH's assets or (c) June 2016. The maturity date may be extended to no later than December 2016 subject to the satisfaction of certain conditions, including the payment of a 25 basis point extension fee, a requirement that an acceptable plan of reorganization has been filed on or prior to such extension and the availability of certain metrics of liquidity applicable to EFIH and EFIH Finance.

EFIH's obligations under the EFIH DIP Facility are secured by a first lien covering substantially all of EFIH's assets, rights and properties, subject to certain exceptions set forth in the EFIH DIP Facility. The EFIH DIP Facility provides that all obligations thereunder constitute administrative expenses in the Chapter 11 Cases, with administrative priority and senior secured status under the Bankruptcy Code and, subject to certain exceptions set forth in the EFIH DIP Facility, will have priority over any and all administrative expense claims, unsecured claims and costs and expenses in the Chapter 11 Cases.

The EFIH DIP Facility provides for affirmative and negative covenants applicable to EFIH and EFIH Finance, including affirmative covenants requiring EFIH and EFIH Finance to provide financial information, budgets and other information to the agents under the EFIH DIP Facility, and negative covenants restricting EFIH's and EFIH Finance's ability to incur additional indebtedness, grant liens, dispose of assets, pay dividends or take certain other actions, in each case except as permitted in the EFIH DIP Facility. The EFIH DIP Facility also includes a minimum liquidity covenant pursuant to which EFIH cannot allow the amount of its unrestricted cash (as defined in the EFIH DIP Facility) to be less than $150 million. As of September 30, 2015, EFIH was in compliance with this minimum liquidity covenant. The Oncor Ring-Fenced Entities are not restricted subsidiaries for purposes of the EFIH DIP Facility.

The EFIH DIP Facility provides for certain customary events of default, including events of default resulting from non-payment of principal, interest or other amounts when due, material breaches of representations and warranties, material breaches of covenants in the EFIH DIP Facility or ancillary loan documents, cross-defaults under other agreements or instruments and the entry of material judgments against EFIH. Upon the existence of an event of default, the EFIH DIP Facility provides that all principal, interest and other amounts due thereunder will become immediately due and payable, either automatically or at the election of specified lenders.

The EFIH DIP Facility permits, subject to certain terms, conditions and limitations set forth in the EFIH DIP Facility, EFIH to incur incremental junior lien subordinated debt in an aggregate amount not to exceed $3 billion.

Long-Term Debt Not Subject to Compromise — Amounts presented in the table below represent pre-petition liabilities that are not subject to compromise due to the debt being fully collateralized or specific orders from the Bankruptcy Court approving repayment of the debt.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
8.82% Non-Debtor Building Financing due semiannually through February 11, 2022	$	35		$	40
Unamortized fair value premium (a)	6			7
Total EFH Corp.	41			47
EFCH
9.58% Fixed Notes due in annual installments through December 4, 2019 (b)	21			21
8.254% Fixed Notes due in quarterly installments through December 31, 2021 (b)	25			29
Unamortized fair value discount (a)	(2		)	(3		)
Total EFCH	44			47
TCEH
7.48% Fixed Secured Facility Bonds with amortizing payments through January 2017 (c)	13			25
7.46% Fixed Secured Facility Bonds with amortizing payments through January 2015 (c)	—			4
Capital lease obligations	40			44
Other	2			2
Unamortized discount	(1		)	(2		)
Total TCEH	54			73
Total EFH Corp. consolidated	139			167
Less amounts due currently	(36		)	(39		)
Total long-term debt not subject to compromise	$	103		$	128

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(a) Amount represents unamortized fair value adjustments recorded under purchase accounting.

(b) Approved by the Bankruptcy Court for repayment.

(c) Debt issued by trust and secured by assets held by the trust.

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Equity (Narrative) (Details) - shares	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Equity
Common stock, shares authorized	2,000,000,000		2,000,000,000
Common stock, shares outstanding	1,669,861,379	1,669,861,379	1,669,861,379	1,669,861,383

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Interest Expense and Related Charges

9 Months Ended

Sep. 30, 2015

Interest Expense and Related Charges [Abstract]

Interest Expense and Related Charges

INTEREST EXPENSE AND RELATED CHARGES

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Interest paid/accrued on debtor-in-possession financing	$	74		$	74		$	221		$	88
Adequate protection amounts paid/accrued (a)	311			308			919			519
Interest paid/accrued on pre-petition debt (b)	—			3			243			1,152
Interest expense on pre-petition toggle notes payable in additional principal (Note 10)	—			—			—			65
Noncash realized net loss on termination of interest rate swaps (offset in unrealized net gain) (c)	—			—			—			1,237
Unrealized mark-to-market net gain on interest rate swaps	—			—			—			(1,303		)
Amortization of debt issuance, amendment and extension costs and discounts	—			—			—			67
Capitalized interest	(2		)	(3		)	(8		)	(14		)
Other	—			—			—			5
Total interest expense and related charges	$	383		$	382		$	1,375		$	1,816

____________

(a) Post-petition period only.

(b) For the nine months ended September 30, 2015, amounts include $235 million in post-petition interest related to the EFIH Second Lien Notes (see Note 10). Includes amounts related to interest rate swaps totaling $194 million for the nine months ended September 30, 2014. Of the $194 million for the nine months ended September 30, 2014, $127 million is included in the liability arising from the termination of TCEH interest rate swaps discussed in Note 14.

(c) Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

Interest expense for the nine months ended September 30, 2015 reflects interest paid and accrued on debtor-in-possession financing (see Note 9), adequate protection amounts paid and accrued, as approved by the Bankruptcy Court in June 2014 for the benefit of secured creditors of (a) $22.616 billion principal amount of outstanding borrowings from the TCEH Senior Secured Facilities, (b) $1.750 billion principal amount of outstanding TCEH Senior Secured Notes and (c) the $1.235 billion net liability related to the TCEH interest rate swaps and natural gas hedging positions terminated shortly after the Bankruptcy Filing (see Note 14), in exchange for their consent to the senior secured, super-priority liens contained in the TCEH DIP Facility and any diminution in value of their interests in the pre-petition collateral from the Petition Date, and interest paid on EFIH's pre-petition 11.00% Second Lien Notes due 2021 and 11.75% Second Lien Notes due 2022 as approved by the Bankruptcy Court in March 2015 (see Note 10). The interest rate applicable to the adequate protection amounts paid/accrued for the nine months ended September 30, 2015 is 4.68% (one-month LIBOR plus 4.50%). In connection with the completion of the Plan of Reorganization, the amount of adequate protection payments may be adjusted to reflect the valuation of the TCEH Debtors determined in connection with confirmation of the Plan of Reorganization by the Bankruptcy Court.

The Bankruptcy Code generally restricts payment of interest on pre-petition debt, subject to certain exceptions. However, the Bankruptcy Court ordered the payment of adequate protection amounts as discussed above and post-petition interest payments on EFIH First Lien Notes in connection with the settlement in June 2014 as discussed in Note 9. Additionally, the Bankruptcy Court approved post-petition interest payments on the EFIH Second Lien Notes in March 2015 as discussed in Note 10. Additional payments may also be made upon approval by the Bankruptcy Court, at the federal judgment rate (see Note 11). Other than these amounts ordered or approved by the Bankruptcy Court, effective April 29, 2014, we discontinued recording interest expense on outstanding pre-petition debt classified as liabilities subject to compromise (LSTC). The table below shows contractual interest amounts, which are amounts due under the contractual terms of the outstanding debt, including debt subject to compromise during the Chapter 11 Cases. Interest expense reported in the condensed statements of consolidated income (loss) for the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014 does not include $327 million, $337 million, $943 million and $574 million, respectively, in contractual interest on pre-petition debt classified as LSTC, which has been stayed by the Bankruptcy Court effective on the Petition Date. For the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014, adequate protection paid/accrued presented below excludes $15 million, $15 million, $44 million and $25 million, respectively, related to interest paid/accrued on the TCEH first-lien interest rate and commodity hedge claims (see Note 14), as such amounts are not included in contractual interest amounts below.

	Three Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	101			—		—		101
EFCH	2			—		—		2
TCEH	520			296		—		224
Eliminations (b)	(31		)	—		—		(31		)
Total	$	623		$	296	$	—	$	327

	Three Months Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	31		$	—	$	—	$	31
EFIH	114			—		—		114
EFCH	2			—		—		2
TCEH	514			293		—		221
Eliminations (b)	(31		)	—		—		(31		)
Total	$	630		$	293	$	—	$	337

	Nine Months Ended September 30, 2015
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Approved Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	94		$	—	$	—	$	94
EFIH	314			—		50		264
EFCH	5			—		—		5
TCEH	1,548			875		—		673
Eliminations (b)	(93		)	—		—		(93		)
Total	$	1,868		$	875	$	50	$	943

	Post-Petition Period Ended September 30, 2014
Entity:	Contractual Interest on Debt Classified as LSTC			Adequate Protection Paid/Accrued		Ordered Interest Paid/Accrued (a)		Contractual Interest on Debt Classified as LSTC Not Paid/Accrued
EFH Corp.	$	53		$	—	$	—	$	53
EFIH	248			—		54		194
EFCH	3			—		—		3
TCEH	871			494		—		377
Eliminations (b)	(53		)	—		—		(53		)
Total	$	1,122		$	494	$	54	$	574

___________

(a) For the nine months ended September 30, 2015 represents portion of interest related to the EFIH Second Lien Notes that was repaid based on the approval of the Bankruptcy Court; however, excludes $185 million of post-petition interest paid in 2015 that contractually related to 2014 and default interest (see Note 10). For the post-petition period ended September 30, 2014, represents interest on EFIH First Lien Notes exchanged and settled in June 2014 (see Note 9).

(b) Represents contractual interest on affiliate debt held by EFH Corp. and EFIH that is classified as LSTC.

XML

Reorganization Items

9 Months Ended

Sep. 30, 2015

Reorganization Items [Abstract]

Reorganization Items

REORGANIZATION ITEMS

Expenses and income directly associated with the Chapter 11 Cases are reported separately in the condensed statements of consolidated income (loss) as reorganization items as required by ASC 852, Reorganizations. Reorganization items also include adjustments to reflect the carrying value of liabilities subject to compromise (LSTC) at their estimated allowed claim amounts, as such adjustments are determined. The following table presents reorganization items incurred in the three months ended September 30, 2015 and 2014, the nine months ended September 30, 2015 and the post-petition period ended September 30, 2014 as reported in the condensed statements of consolidated income (loss):

	Three Months Ended September 30, 2015			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2015		Post-Petition Period Ended September 30, 2014
Expenses related to legal advisory and representation services	$	46		$	38		$	148	$	79
Expenses related to other professional consulting and advisory services	22			22			69		72
Contract claims adjustments	(2		)	—			26		—
Fees associated with repayment of EFIH Second Lien Notes (Note 10)	—			—			28		—
Noncash liability adjustment arising from termination of interest rate swaps (Note 14)	—			—			—		278
Fees associated with completion of TCEH and EFIH DIP Facilities	—			(5		)	—		180
Loss on exchange and settlement of EFIH First Lien Notes (Note 9)	—			—			—		108
Other	2			—			4		3
Total reorganization items	$	68		$	55		$	275	$	720

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Liabilities Subject to Compromise

9 Months Ended

Sep. 30, 2015

Liabilities Subject to Compromise [Abstract]

Liabilities Subject to Compromise

LIABILITIES SUBJECT TO COMPROMISE

The amounts classified as liabilities subject to compromise (LSTC) reflect the company's estimate of pre-petition liabilities and other expected allowed claims to be addressed in the Chapter 11 Cases and may be subject to future adjustment as the Chapter 11 Cases proceed. Debt amounts include related unamortized deferred financing costs and discounts/premiums. Amounts classified to LSTC do not include pre-petition liabilities that are fully collateralized by letters of credit or cash deposits. The following table presents LSTC as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014:

	September 30, 2015		December 31, 2014
Notes, loans and other debt per the following table	$	34,679	$	35,124
Accrued interest on notes, loans and other debt	749		804
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements (Note 14)	1,235		1,235
Trade accounts payable and other expected allowed claims	261		269
Total liabilities subject to compromise	$	36,924	$	37,432

Pre-Petition Notes, Loans and Other Debt Reported as Liabilities Subject to Compromise

Amounts presented below represent principal amounts of pre-petition notes, loans and other debt reported as liabilities subject to compromise.

	September 30, 2015			December 31, 2014
EFH Corp. (parent entity)
9.75% Fixed Senior Notes due October 15, 2019	$	2		$	2
10% Fixed Senior Notes due January 15, 2020	3			3
10.875% Fixed Senior Notes due November 1, 2017	33			33
11.25% / 12.00% Senior Toggle Notes due November 1, 2017	27			27
5.55% Fixed Series P Senior Notes due November 15, 2014 (a)	90			90
6.50% Fixed Series Q Senior Notes due November 15, 2024 (a)	201			201
6.55% Fixed Series R Senior Notes due November 15, 2034 (a)	291			291
Unamortized fair value discount (b)	(118		)	(118		)
Total EFH Corp.	529			529
EFIH
11% Fixed Senior Secured Second Lien Notes due October 1, 2021	322			406
11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022	1,389			1,750
11.25% / 12.25% Senior Toggle Notes due December 1, 2018	1,566			1,566
9.75% Fixed Senior Notes due October 15, 2019	2			2
Unamortized premium	243			243
Unamortized discount	(121		)	(121		)
Total EFIH	3,401			3,846
EFCH
Floating Rate Junior Subordinated Debentures, Series D due January 30, 2037	1			1
8.175% Fixed Junior Subordinated Debentures, Series E due January 30, 2037	8			8
Unamortized fair value discount (b)	(1		)	(1		)
Total EFCH	8			8
TCEH
Senior Secured Facilities:
TCEH Floating Rate Term Loan Facilities due October 10, 2014	3,809			3,809
TCEH Floating Rate Letter of Credit Facility due October 10, 2014	42			42
TCEH Floating Rate Revolving Credit Facility due October 10, 2016	2,054			2,054
TCEH Floating Rate Term Loan Facilities due October 10, 2017 (a)	$	15,691		$	15,691

	September 30, 2015			December 31, 2014
TCEH Floating Rate Letter of Credit Facility due October 10, 2017	1,020			1,020
11.5% Fixed Senior Secured Notes due October 1, 2020	1,750			1,750
15% Fixed Senior Secured Second Lien Notes due April 1, 2021	336			336
15% Fixed Senior Secured Second Lien Notes due April 1, 2021, Series B	1,235			1,235
10.25% Fixed Senior Notes due November 1, 2015 (a)	1,833			1,833
10.25% Fixed Senior Notes due November 1, 2015, Series B (a)	1,292			1,292
10.50% / 11.25% Senior Toggle Notes due November 1, 2016	1,749			1,749
Pollution Control Revenue Bonds:
Brazos River Authority:
5.40% Fixed Series 1994A due May 1, 2029	39			39
7.70% Fixed Series 1999A due April 1, 2033	111			111
7.70% Fixed Series 1999C due March 1, 2032	50			50
8.25% Fixed Series 2001A due October 1, 2030	71			71
8.25% Fixed Series 2001D-1 due May 1, 2033	171			171
6.30% Fixed Series 2003B due July 1, 2032	39			39
6.75% Fixed Series 2003C due October 1, 2038	52			52
5.40% Fixed Series 2003D due October 1, 2029	31			31
5.00% Fixed Series 2006 due March 1, 2041	100			100
Sabine River Authority of Texas:
6.45% Fixed Series 2000A due June 1, 2021	51			51
5.20% Fixed Series 2001C due May 1, 2028	70			70
5.80% Fixed Series 2003A due July 1, 2022	12			12
6.15% Fixed Series 2003B due August 1, 2022	45			45
Trinity River Authority of Texas:
6.25% Fixed Series 2000A due May 1, 2028	14			14
Unamortized fair value discount related to pollution control revenue bonds (b)	(103		)	(103		)
Other:
Other	1			1
Unamortized discount	(91		)	(91		)
Total TCEH	31,474			31,474
Deferred debt issuance and extension costs	(733		)	(733		)
Total EFH Corp. consolidated notes, loans and other debt	$	34,679		$	35,124

___________

(a) Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation.

	September 30, 2015		December 31, 2014
EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014	$	281	$	281
EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024	545		545
EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034	456		456
TCEH Floating Rate Term Loan Facilities due October 10, 2017	19		19
TCEH 10.25% Fixed Senior Notes due November 1, 2015	213		213
TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B	150		150
Total	$	1,664	$	1,664

(b) Amount represents unamortized fair value adjustments recorded under purchase accounting.

Repayment of EFIH Second Lien Notes

In March 2015, with the approval of the Bankruptcy Court, EFIH used some of its cash to repay (Repayment) $735 million, including interest at contractual rates, in amounts outstanding under EFIH's pre-petition 11.00% Fixed Senior Secured Second Lien Notes due October 1, 2021 (11.00% Notes) and 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 (11.75% Notes) and $15 million in certain fees and expenses of the trustee for such notes. The Repayment resulted in an $84 million reduction in the principal amount of the 11.00% Notes, a $361 million reduction in the principal amount of the 11.75% Notes and the payment of $235 million and $55 million of accrued and unpaid post-petition and pre-petition interest, respectively, at contractual rates. The Repayment required the requisite consent of the lenders under EFIH's DIP Facility. EFIH received such consent from approximately 97% of the lenders under the EFIH DIP Facility in consideration of an aggregate consent fee equal to approximately $13 million. As a result of the Repayment, as of September 30, 2015, the principal amount outstanding on the 11.00% Notes and 11.75% Notes are $322 million and $1.389 billion, respectively.

TCEH Letter of Credit Facility Activity

Borrowings under the TCEH Letter of Credit Facility have been recorded by TCEH as restricted cash that supports issuances of letters of credit. At September 30, 2015, the restricted cash related to the pre-petition TCEH Letter of Credit Facility totaled $506 million, and there were no outstanding letters of credit related to the pre-petition TCEH Letter of Credit Facility. Due to the default under the pre-petition TCEH Senior Secured Facilities, the letter of credit capacity is no longer available. In the first quarter of 2014, TCEH issued a $157 million letter of credit to a subsidiary of EFH Corp. to secure its current and future amounts payable to the subsidiary arising from recurring transactions in the normal course of business, and in 2014, the subsidiary drew on the letter of credit in the amount of $150 million to settle amounts due from TCEH. The remaining $7 million under the letter of credit expired in July 2014. For the year ended December 31, 2014 and the nine months ended September 30, 2015, $245 million and $45 million, respectively, of letters of credit have been drawn upon by counterparties to settle amounts due from TCEH. Included in the nine months ended September 30, 2015 amount was $20 million drawn by certain executive officers to satisfy payments related to long-term incentive awards.

Information Regarding Significant Pre-Petition Debt

The TCEH pre-petition debt described below is junior in right of priority and payment to the TCEH DIP Facility, and the EFIH pre-petition debt (including EFIH's guarantee of the EFH Corp. debt) described below is junior in right of priority and payment to the EFIH DIP Facility.

TCEH Senior Secured Facilities —Borrowings under the TCEH Senior Secured Facilities total $22.616 billion and consist of:

• $3.809 billion of TCEH Term Loan Facilities with interest at LIBOR plus 3.50%;

• $15.691 billion of TCEH Term Loan Facilities with interest at LIBOR plus 4.50%, excluding $19 million aggregate principal amount held by EFH Corp.;

• $42 million of cash borrowed under the TCEH Letter of Credit Facility with interest at LIBOR plus 3.50%;

• $1.020 billion of cash borrowed under the TCEH Letter of Credit Facility with interest at LIBOR plus 4.50%, and

• Amounts borrowed under the TCEH Revolving Credit Facility, which represent the entire amount of commitments under the facility totaling $2.054 billion.

The TCEH Senior Secured Facilities are fully and unconditionally guaranteed jointly and severally on a senior secured basis by EFCH, and subject to certain exceptions, each existing and future direct or indirect wholly owned US subsidiary of TCEH. The TCEH Senior Secured Facilities, the TCEH Senior Secured Notes and the TCEH first lien hedges (or any termination amounts related thereto), discussed below, are secured on a first priority basis by (i) substantially all of the current and future assets of TCEH and TCEH's subsidiaries who are guarantors of such facilities and (ii) pledges of the capital stock of TCEH and certain current and future direct or indirect subsidiaries of TCEH.

TCEH 11.5% Senior Secured Notes —The principal amount of the TCEH 11.5% Senior Secured Notes totals $1.750 billion, with interest payable at a fixed rate of 11.5% per annum. The notes are fully and unconditionally guaranteed on a joint and several basis by EFCH and each subsidiary of TCEH that guarantees the TCEH Senior Secured Facilities (collectively, the Guarantors). The notes are secured, on a first-priority basis, by security interests in all of the assets of TCEH, and the guarantees are secured on a first-priority basis by all of the assets and equity interests held by the Guarantors, in each case, to the extent such assets and equity interests secure obligations under the TCEH Senior Secured Facilities (the TCEH Collateral), subject to certain exceptions and permitted liens.

The notes are (i) senior obligations and rank equally in right of payment with all senior indebtedness of TCEH, (ii) senior in right of payment to all existing or future unsecured and second-priority secured debt of TCEH to the extent of the value of the TCEH Collateral and (iii) senior in right of payment to any future subordinated debt of TCEH. These notes are effectively subordinated to all secured obligations of TCEH that are secured by assets other than the TCEH Collateral, to the extent of the value of the assets securing such obligations.

The guarantees of the TCEH Senior Secured Notes by the Guarantors are effectively senior to any unsecured and second-priority debt of the Guarantors to the extent of the value of the TCEH Collateral. The guarantees are effectively subordinated to all debt of the Guarantors secured by assets that are not part of the TCEH Collateral, to the extent of the value of the collateral securing that debt.

TCEH 15% Senior Secured Second Lien Notes(including Series B) — The principal amount of the TCEH 15% Senior Secured Second Lien Notes totals $1.571 billion with interest at a fixed rate of 15% per annum. The notes are fully and unconditionally guaranteed on a joint and several basis by EFCH and, subject to certain exceptions, each subsidiary of TCEH that guarantees the TCEH Senior Secured Facilities. The notes are secured, on a second-priority basis, by security interests in all of the assets of TCEH, and the guarantees (other than the guarantee of EFCH) are secured on a second-priority basis by all of the assets and equity interests of all of the Guarantors other than EFCH (collectively, the Subsidiary Guarantors), in each case, to the extent such assets and security interests secure obligations under the TCEH Senior Secured Facilities on a first-priority basis, subject to certain exceptions (including the elimination of the pledge of equity interests of any Subsidiary Guarantor to the extent that separate financial statements would be required to be filed with the SEC for such Subsidiary Guarantor under Rule 3-16 of Regulation S-X) and permitted liens. The guarantee from EFCH is not secured.

The notes are senior obligations of the issuer and rank equally in right of payment with all senior indebtedness of TCEH, are senior in right of payment to all existing or future unsecured debt of TCEH to the extent of the value of the TCEH Collateral (after taking into account any first-priority liens on the TCEH Collateral) and are senior in right of payment to any future subordinated debt of TCEH. These notes are effectively subordinated to TCEH's obligations under the TCEH Senior Secured Facilities, the TCEH Senior Secured Notes and TCEH's commodity and interest rate hedges that are secured by a first-priority lien on the TCEH Collateral and any future obligations subject to first-priority liens on the TCEH Collateral, to the extent of the value of the TCEH Collateral, and to all secured obligations of TCEH that are secured by assets other than the TCEH Collateral, to the extent of the value of the assets securing such obligations.

The guarantees of the TCEH Senior Secured Second Lien Notes by the Subsidiary Guarantors are effectively senior to any unsecured debt of the Subsidiary Guarantors to the extent of the value of the TCEH Collateral (after taking into account any first-priority liens on the TCEH Collateral). These guarantees are effectively subordinated to all debt of the Subsidiary Guarantors secured by the TCEH Collateral on a first-priority basis or that is secured by assets that are not part of the TCEH Collateral, to the extent of the value of the collateral securing that debt. EFCH's guarantee ranks equally with its unsecured debt (including debt it guarantees on an unsecured basis) and is effectively subordinated to any of its secured debt to the extent of the value of the collateral securing that debt.

TCEH 10.25% Senior Notes (including Series B) and 10.50%/11.25% Senior Toggle Notes (collectively, the TCEH Senior Notes)— The principal amount of the TCEH Senior Notes totals $4.874 billion, excluding $363 million aggregate principal amount held by EFH Corp. and EFIH, and the notes are fully and unconditionally guaranteed on a joint and several unsecured basis by TCEH's direct parent, EFCH, and by each subsidiary that guarantees the TCEH Senior Secured Facilities. The TCEH 10.25% Notes bore interest at a fixed rate of 10.25% per annum. The TCEH Toggle Notes bore interest at a fixed rate of 10.50% per annum.

EFIH 6.875% Senior Secured First Lien Notes — There were no principal amounts of the EFIH 6.875% Notes outstanding at September 30, 2015 as the notes were exchanged or settled in June 2014 as discussed in Note 9. The notes bore interest at a fixed rate of 6.875% per annum. The EFIH 6.875% Notes were secured on a first-priority basis by EFIH's pledge of its 100% ownership of the membership interests in Oncor Holdings (the EFIH Collateral) on an equal and ratable basis with the EFIH 10% Notes (discussed below).

EFIH 10% Senior Secured First Lien Notes — There were no principal amounts of the EFIH 10% Notes outstanding at September 30, 2015 as the notes were exchanged or settled in June 2014 as discussed in Note 9. The notes bore interest at a fixed rate of 10% per annum. The notes were secured by the EFIH Collateral on an equal and ratable basis with the EFIH 6.875% Notes.

EFIH 11% Senior Secured Second Lien Notes — The principal amount of the EFIH 11% Notes totals $322 million with interest at a fixed rate of 11% per annum. The EFIH 11% Notes are secured on a second-priority basis by the EFIH Collateral on an equal and ratable basis with the EFIH 11.75% Notes. See discussion above related to the Repayment of a portion of these notes in March 2015.

The EFIH 11% Notes are senior obligations of EFIH and EFIH Finance and rank equally in right of payment with all senior indebtedness of EFIH and are effectively senior in right of payment to all existing or future unsecured debt of EFIH to the extent of the value of the EFIH Collateral. The notes have substantially the same terms as the EFIH 11.75% Notes discussed below, and the holders of the EFIH 11% Notes will generally vote as a single class with the holders of the EFIH 11.75% Notes.

EFIH 11.75% Senior Secured Second Lien Notes —The principal amount of the EFIH 11.75% Notes totals $1.389 billion with interest at a fixed rate of 11.75% per annum. The EFIH 11.75% Notes are secured on a second-priority basis by the EFIH Collateral on an equal and ratable basis with the EFIH 11% Notes. The EFIH 11.75% Notes have substantially the same covenants as the EFIH 11% Notes, and the holders of the EFIH 11.75% Notes will generally vote as a single class with the holders of the EFIH 11% Notes. See discussion above related to the Repayment of a portion of these notes in March 2015.

The EFIH 11.75% Notes were issued in private placements and are not registered under the Securities Act. EFIH had agreed to use its commercially reasonable efforts to register with the SEC notes having substantially identical terms as the EFIH 11.75% Notes (except for provisions relating to transfer restrictions and payment of additional interest) as part of an offer to exchange freely tradable notes for the EFIH 11.75% Notes. Because the exchange offer was not completed, the annual interest rate on the EFIH 11.75% Notes increased by 25 basis points (to 12.00%) in February 2013 and by an additional 25 basis points (to 12.25%) in May 2013.

EFIH 11.25%/12.25% Senior Toggle Notes — The principal amount of the EFIH Toggle Notes totals $1.566 billion with interest at a fixed rate of 11.25% per annum for cash interest and 12.25% per annum for PIK Interest. The terms of the Toggle Notes include an election by EFIH, for any interest period until June 1, 2016, to pay interest on the Toggle Notes (i) entirely in cash; (ii) by increasing the principal amount of the notes or by issuing new EFIH Toggle Notes (PIK Interest); or (iii) 50% in cash and 50% in PIK Interest. EFIH made its pre-petition interest payments on the EFIH Toggle Notes by using the PIK feature of those notes.

The EFIH Toggle Notes were issued in private placements and are not registered under the Securities Act. EFIH had agreed to use its commercially reasonable efforts to register with the SEC notes having substantially identical terms as the EFIH Toggle Notes (except for provisions relating to transfer restrictions and payment of additional interest) as part of an offer to exchange freely tradable notes for the EFIH Toggle Notes. Because the exchange offer was not completed, the annual interest rate on the EFIH Toggle Notes increased by 25 basis points (to 11.50%) in December 2013 and by an additional 25 basis points (to 11.75%) in March 2014.

EFH Corp. 10.875% Senior Notes and 11.25%/12.00% Senior Toggle Notes — The collective principal amount of these notes totals $60 million. The notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by EFCH and EFIH. The notes bore interest at a fixed rate for the 10.875% Notes of 10.875% per annum and at a fixed rate for the Toggle Notes of 11.25% per annum.

Material Cross Default/Acceleration Provisions — Certain of our pre-petition financing arrangements contain provisions that result in an event of default if there were a failure under other financing arrangements to meet payment terms or to observe other covenants that could or does result in an acceleration of payments due. Such provisions are referred to as "cross default" or "cross acceleration" provisions. The Bankruptcy Filing triggered defaults on our pre-petition debt obligations, but pursuant to the Bankruptcy Code, the creditors are stayed from taking any actions against the Debtors as a result of such defaults.

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Fair Value Measurements (Schedule of Fair Value of the Level 3 Assets and Liabilities by Major Contract Type (All Related to Commodity Contracts) and the Significant Unobservable Inputs Used in the Valuations) (Details) - Derivative financial instruments, assets and liabilities [Member] - Level 3 [Member] $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2015 USD ($) $ / Megawatt-hour	Dec. 31, 2014 USD ($) $ / T $ / Megawatt-hour
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Assets	[1]	$ 34	$ 49
Liabilities	[1]	(7)	(14)
Derivative Assets (Liabilities), at Fair Value, Net	[1]	27	35
Electricity purchases and sales [Member] | Valuation Model [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Assets	[1]	2	4
Liabilities	[1]	(1)	(5)
Derivative Assets (Liabilities), at Fair Value, Net	[1]	1	(1)
Electricity congestion revenue rights [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Assets	[1],[2]	27	38
Liabilities	[1],[2]	(3)	(4)
Derivative Assets (Liabilities), at Fair Value, Net	[1],[2]	24	34
Coal purchases [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Assets	[1],[2]		0
Liabilities	[1],[2]		(4)
Derivative Assets (Liabilities), at Fair Value, Net	[1],[2]		(4)
Other [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Assets	[1],[3]	5	7
Liabilities	[1],[3]	(3)	(1)
Derivative Assets (Liabilities), at Fair Value, Net	[1],[3]	$ 2	$ 6
Minimum [Member] | Electricity purchases and sales [Member] | Valuation Model [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid pricing locations (in usd per MWh) | $ / Megawatt-hour	[1],[4],[5]	25	30
Hourly price curve shape (in usd per MWh) | $ / Megawatt-hour	[1],[5],[6]	15	20
Minimum [Member] | Electricity congestion revenue rights [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid price differences between settlement points | $ / Megawatt-hour	[1],[2],[5],[7]	0	0
Minimum [Member] | Coal purchases [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid price variances between mines | $ / T	[1],[2],[5],[8]		0
Illiquid pricing variances between heat content | $ / T	[1],[2],[5],[9]		0
Maximum [Member] | Electricity purchases and sales [Member] | Valuation Model [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid pricing locations (in usd per MWh) | $ / Megawatt-hour	[1],[4],[5]	40	50
Hourly price curve shape (in usd per MWh) | $ / Megawatt-hour	[1],[5],[6]	55	70
Maximum [Member] | Electricity congestion revenue rights [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid price differences between settlement points | $ / Megawatt-hour	[1],[2],[5],[7]	10	20
Maximum [Member] | Coal purchases [Member] | Market Approach [Member]
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Illiquid price variances between mines | $ / T	[1],[2],[5],[8]		1
Illiquid pricing variances between heat content | $ / T	[1],[2],[5],[9]		1

[1] Electricity purchase and sales contracts include hedging positions in the ERCOT regions, as well as power contracts, the valuations of which include unobservable inputs related to the hourly shaping of the price curve. Electricity congestion revenue rights contracts consist of forward purchase contracts (swaps and options) used to hedge electricity price differences between settlement points within ERCOT. Coal purchase contracts relate to western (Powder River Basin) coal.

[2] While we use the market approach, there is either insufficient market data to consider the valuation liquid or the significance of credit reserves or non-performance risk adjustments results in a Level 3 designation.

[3] Other includes contracts for ancillary services, natural gas, power options, diesel options and coal options.

[4] Based on the historical range of forward average monthly ERCOT hub and load zone prices.

[5] The range of the inputs may be influenced by factors such as time of day, delivery period, season and location.

[6] Based on the historical range of forward average hourly ERCOT North Hub prices.

[7] Based on the historical price differences between settlement points within the ERCOT hubs and load zones.

[8] Based on the historical range of price variances between mine locations.

[9] Based on historical ranges of forward average prices between different heat contents (potential energy in coal for a given mass).

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Commodity And Other Derivative Contractual Assets And Liabilities (Termination of Commodity Hedges and Interest Rate Swaps) (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014		Dec. 31, 2014	May. 02, 2014
Termination of Commodity Hedges and Interest Rate Swaps [Line Items]
Net Liability, Interest Rate and Commodity Contract Positions Terminated								$ 1,108
Noncash realized loss on termination of interest rate swaps	$ 0	$ 0		$ 0	$ (1,237)	[1]
Noncash realized gain on termination of natural gas hedging positions				0	117
Net Liability, Accounts Payable Related To Matured Interest Rate Swaps Secured By First-Lien Secured Interest	127			127
Net liability under terminated TCEH interest rate swap and natural gas hedging agreements	1,235			1,235			$ 1,235
Liability adjustment arising from termination of interest rate swaps	$ 0	$ 0	$ 278	$ 0	278
Texas Competitive Electric Holdings Company LLC [Member] | Commodity Contract [Member]
Termination of Commodity Hedges and Interest Rate Swaps [Line Items]
Noncash realized gain on termination of natural gas hedging positions					117
Texas Competitive Electric Holdings Company LLC [Member] | Interest Rate Swap [Member]
Termination of Commodity Hedges and Interest Rate Swaps [Line Items]
Noncash realized loss on termination of interest rate swaps					$ 1,225

[1] Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

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Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Assets:
Nuclear decommissioning trust		$ 874	$ 893
Equity securities [Member]
Assets:
Nuclear decommissioning trust	[1]	560	592
Debt securities [Member]
Assets:
Nuclear decommissioning trust	[2]	314	301
Commodity contracts [Member]
Assets:
Derivative asset, Fair Value, Gross Asset		423	497
Liabilities:
Derivative Liability, Fair Value, Gross Liability		164	317
Fair Value, Measurements, Recurring [Member]
Assets:
Derivative Asset, Fair Value, Gross Liability		16
Liabilities:
Derivative liabilities, Fair Value, Gross Asset		16
Fair Value, Measurements, Recurring [Member] | Commodity contracts [Member]
Assets:
Derivative Asset, Fair Value, Gross Liability		16
Liabilities:
Derivative liabilities, Fair Value, Gross Asset		16
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets:
Total assets		683	777
Liabilities:
Total liabilities		108	278
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equity securities [Member]
Assets:
Nuclear decommissioning trust		355	375
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Debt securities [Member]
Assets:
Nuclear decommissioning trust			0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity contracts [Member]
Assets:
Derivative asset, Fair Value, Gross Asset		328	402
Liabilities:
Derivative Liability, Fair Value, Gross Liability		108	278
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets:
Total assets		564	564
Liabilities:
Total liabilities		33	25
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equity securities [Member]
Assets:
Nuclear decommissioning trust		205	217
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Debt securities [Member]
Assets:
Nuclear decommissioning trust		314	301
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity contracts [Member]
Assets:
Derivative asset, Fair Value, Gross Asset		45	46
Liabilities:
Derivative Liability, Fair Value, Gross Liability		33	25
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets:
Total assets		34	49
Liabilities:
Total liabilities		7	14
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Equity securities [Member]
Assets:
Nuclear decommissioning trust		0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Debt securities [Member]
Assets:
Nuclear decommissioning trust		0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity contracts [Member]
Assets:
Derivative asset, Fair Value, Gross Asset		34	49
Liabilities:
Derivative Liability, Fair Value, Gross Liability		7	14
Total [Member] | Fair Value, Measurements, Recurring [Member]
Assets:
Total assets		1,297	1,390
Liabilities:
Total liabilities		164	317
Total [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Assets:
Nuclear decommissioning trust		560	592
Total [Member] | Fair Value, Measurements, Recurring [Member] | Debt securities [Member]
Assets:
Nuclear decommissioning trust		314	301
Total [Member] | Fair Value, Measurements, Recurring [Member] | Commodity contracts [Member]
Assets:
Derivative Assets		423	497
Liabilities:
Derivative Liabilities		$ 164	$ 317

[1] The investment objective for equity securities is to invest tax efficiently and to match the performance of the S&P 500 Index.

[2] The investment objective for debt securities is to invest in a diversified tax efficient portfolio with an overall portfolio rating of AA or above as graded by S&P or Aa2 by Moody's Investors Services, Inc. The debt securities are heavily weighted with municipal bonds. The debt securities had an average coupon rate of 3.58% and 4.35% at September 30, 2015 and December 31, 2014, respectively, and an average maturity of 7 years and 6 years at September 30, 2015 and December 31, 2014, respectively.

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Commodity And Other Derivative Contractual Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Commodity and Other Derivative Contractual Assets and Liabilities as Reported in the Balance Sheets

The following tables provide detail of commodity and other derivative contractual assets and liabilities (with the column totals representing the net positions of the contracts) as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014. All amounts relate to commodity contracts.

	September 30, 2015					December 31, 2014
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Current assets	$	393	$	—		$	492	$	—
Noncurrent assets	14		16			5		—
Current liabilities	—		(160		)	—		(316		)
Noncurrent liabilities	—		(4		)	—		(1		)
Net assets (liabilities)	$	407	$	(148	)	$	497	$	(317	)

Schedule of Pre-tax Effect on Net Income of Derivatives Not Under Hedge Accounting, Including Realized and Unrealized Effects

The following table presents the pretax effect of derivatives on net income (gains (losses)), including realized and unrealized effects:

	Three Months Ended September 30,				Nine Months Ended September 30,
Derivative (condensed statements of consolidated income (loss) presentation)	2015		2014		2015		2014
Commodity contracts (Net gain (loss) from commodity hedging and trading activities) (a)	$	130	$	54	$	281	$	(114	)
Interest rate swaps (Interest expense and related charges) (b)	—		—		—		(128		)
Interest rate swaps (Reorganization items) (Note 8)	—		—		—		(278		)
Net gain (loss)	$	130	$	54	$	281	$	(520	)

____________

(a) Amount represents changes in fair value of positions in the derivative portfolio during the period, as realized amounts related to positions settled are assumed to equal reversals of previously recorded unrealized amounts.

(b) Includes unrealized mark-to-market net gain (loss) as well as the net realized effect on interest paid/accrued, both reported in Interest Expense and Related Charges (see Note 7).

Offsetting Assets and Liabilities

The following tables reconcile our derivative assets and liabilities as presented in the condensed consolidated balance sheets to net amounts after taking into consideration netting arrangements with counterparties and financial collateral:

September 30, 2015
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	423		$	(142	)	$	(123	)	$	158
Derivative liabilities:
Commodity contracts	(164		)	142			1			(21		)
Net amounts	$	259		$	—		$	(122	)	$	137

December 31, 2014
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	497		$	(298	)	$	(16	)	$	183
Derivative liabilities:
Commodity contracts	(317		)	298			2			(17		)
Net amounts	$	180		$	—		$	(14	)	$	166

____________

(a) Amounts presented exclude trade accounts receivable and payable related to settled financial instruments.

(b) Financial collateral consists entirely of cash margin deposits.

Schedule of Gross Notional Amounts of Derivative Volumes

The following table presents the gross notional amounts of derivative volumes at September 30, 2015 and December 31, 2014:

	September 30, 2015	December 31, 2014
Derivative type	Notional Volume		Unit of Measure
Natural gas (a)	1,821	1,687	Million MMBtu
Electricity	43,425	22,820	GWh
Congestion Revenue Rights (b)	94,195	89,484	GWh
Coal	8	10	Million US tons
Fuel oil	42	36	Million gallons
Uranium	126	150	Thousand pounds

____________

(a) Represents gross notional forward sales, purchases and options transactions, locational basis swaps and other natural gas transactions.

(b) Represents gross forward purchases associated with instruments used to hedge electricity price differences between settlement points within ERCOT.

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Debtor-In-Possession Borrowing Facilities And Long-Term Debt Not Subject To Compromise (TCEH Debtor-In-Possession Facility) (Details) - Texas Competitive Electric Holdings Company LLC [Member] $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)
Debtor-In-Possession Facility [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Amount Arranged	$ 3,375
Debtor-In-Possession Financing, Extension Fee	$ 8
Debtor-In-Possession Financing, Cash Collateral Extension, Number Of Days Following Termination Of Debor's Plan Support Agreement	60 days
Debtor-in-Possession Financing, Unused Cash Borrowings	$ 1,950
Debtor-in-Possession Financing, Unused Letter of Credit Capacity	$ 436
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.75%
Debt Instrument, Basis Spread on Variable Rate	3.00%
Debtor-in-Possession Financing, Interest Rate on Borrowings Outstanding	3.75%
Consolidated Superpriority Secured Net Debt to Consolidated EBITDA Covenant Threshold	3.50
Debtor-In-Possession Facility [Member] | Senior Secured Super-Priority Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Amount Arranged	$ 1,950	[1]
Debtor-in-Possession Financing, Unused Cash Borrowings	1,950
Debtor-in-Possession Financing, Unused Letter of Credit Capacity	0
Debtor-in-Possession Financing, Borrowings Outstanding	0
Debtor-in-Possession Financing, Maximum Borrowings Allowed Without Consent Or Bankruptcy Court Order	1,650
Debtor-In-Possession Facility [Member] | Senior Secured Super-Priority Term Loan [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Amount Arranged	1,425	[2]
Debtor-in-Possession Financing, Unused Cash Borrowings	0
Debtor-in-Possession Financing, Unused Letter of Credit Capacity	436
Debtor-in-Possession Financing, Borrowings Outstanding	1,425
Debtor-in-Possession Financing, Amount Arranged, Maximum Letter of Credit Capacity	800
Debtor-in-Possession Financing, Collateral Account, Total Amount Held To Support Letters Of Credit	800
Debtor-In-Possession Facility [Member] | Senior Secured Super-Priority Term Loan [Member] | Cash and Cash Equivalents [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Collateral Account, Total Amount Held To Support Letters Of Credit	436
Debtor-In-Possession Facility [Member] | Senior Secured Super-Priority Term Loan [Member] | Other Restricted Cash [Member]
Line of Credit Facility [Line Items]
Debtor-in-Possession Financing, Collateral Account, Total Amount Held To Support Letters Of Credit	364
Railroad Commission of Texas [Member]
Line of Credit Facility [Line Items]
Collateral Bond, Securing Mining Land Reclamation Obligations, Secured By First Lien Interest In Assets	$ 1,100

[1] Facility used for general corporate purposes. No amounts were borrowed at September 30, 2015. Pursuant to an order of the Bankruptcy Court, the TCEH Debtors may not have more than $1.650 billion of TCEH DIP Revolving Credit Facility cash borrowings outstanding without written consent of the TCEH committee of unsecured creditors and the ad hoc group of TCEH unsecured noteholders or further order of the Bankruptcy Court.

[2] Facility used for general corporate purposes, including but not limited to, $800 million for issuing letters of credit.

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Related Party Transactions

9 Months Ended

Sep. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

The following represent our significant related-party transactions.

• On a quarterly basis, we accrue a management fee payable to the Sponsor Group under the terms of a management agreement. Related amounts expensed and reported as SG&A expense totaled $10 million for both the three months ended September 30, 2015 and 2014 and $30 million for both the nine months ended September 30, 2015 and 2014. No payments were made in the three and nine months ended September 30, 2015 and 2014. We had previously paid these fees on a quarterly basis, however, beginning with the quarterly management fee due December 31, 2013, the Sponsor Group, while reserving the right to receive the fees, directed EFH Corp. to suspend payments of the management fees for an indefinite period. Effective with the Petition Date, EFH Corp. suspended allocations of such fees to TCEH and EFIH. Fees accrued as of the Petition Date have been reclassified to liabilities subject to compromise (LSTC), and fees accrued after the Petition Date have been reported in other noncurrent liabilities and deferred credits. Pursuant to the Settlement Agreement and the Plan of Reorganization discussed in Note 2, as of the effective date of the Plan of Reorganization, (a) the Sponsor Group has agreed to forego any and all claims under the management agreement in exchange for releases of liability against the causes of actions brought forth by various creditor groups and (b) EFH Corp. has proposed to reject the management agreement pursuant to the Bankruptcy Code.

• In 2007, TCEH entered into the TCEH Senior Secured Facilities with syndicates of financial institutions and other lenders. These syndicates included affiliates of GS Capital Partners, which is a member of the Sponsor Group. Affiliates of each member of the Sponsor Group have from time to time engaged in commercial banking transactions with us and/or provided financial advisory services to us, in each case in the normal course of business.

• Affiliates of GS Capital Partners were parties to certain commodity and interest rate hedging transactions with us in the normal course of business.

• Affiliates of the Sponsor Group have sold or acquired, and in the future may sell or acquire, debt or debt securities issued by us in open market transactions or through loan syndications.

• EFH Corp. and EFIH have purchased, or received in exchanges, certain debt securities of EFH Corp. and TCEH, which they have held. Principal and interest payments received by EFH Corp. and EFIH on these investments have been used, in part, to service their outstanding debt. These investments are eliminated in consolidation in these consolidated financial statements. EFIH held $1.282 billion principal amount of EFH Corp. debt and $79 million principal amount of TCEH debt at both September 30, 2015 and December 31, 2014. EFH Corp. held $303 million principal amount of TCEH debt at both September 30, 2015 and December 31, 2014. Under the terms of the Plan of Reorganization and the Settlement Agreement, EFH Corp. and EFIH will waive their rights to the claims associated with these debt securities as of the effective time of the Plan of Reorganization.

• TCEH's retail operations pay Oncor for services it provides, principally the delivery of electricity. Expenses recorded for these services, reported in fuel, purchased power costs and delivery fees, totaled $279 million and $281 million for the three months ended September 30, 2015 and 2014, respectively, and $739 million and $746 million for the nine months ended September 30, 2015 and 2014, respectively. The fees are based on rates regulated by the PUCT that apply to all REPs. The condensed consolidated balance sheets at September 30, 2015 and December 31, 2014 reflect amounts due currently to Oncor totaling $156 million and $118 million, respectively (included in net payables due to unconsolidated subsidiary), largely related to these electricity delivery fees. Also see discussion below regarding receivables from Oncor under a Federal and State Income Tax Allocation Agreement.

• A subsidiary of EFH Corp. bills Oncor for financial and other administrative services and shared facilities at cost. Such amounts reduced reported SG&A expense by $6 million and $8 million for the three months ended September 30, 2015 and 2014, respectively, and $16 million and $23 million for the nine months ended September 30, 2015 and 2014, respectively.

• A subsidiary of EFH Corp. bills TCEH subsidiaries for information technology, financial, accounting and other administrative services at cost. These charges totaled $52 million and $47 million for the three months ended September 30, 2015 and 2014, respectively, and $151 million and $147 million for the nine months ended September 30, 2015 and 2014, respectively.

• See Note 10 for discussion of a letter of credit issued by TCEH in 2014 to a subsidiary of EFH Corp. to secure its amounts payable to the subsidiary arising from recurring transactions in the normal course.

• For the three months ended March 31, 2015, TCEH settled a $15 million payable related to information technology assets purchased from a subsidiary of EFH Corp. in 2014. In the three months ended June 30, 2015, TCEH purchased and settled $12 million of additional assets. In April 2014, prior to the Bankruptcy Filing, a subsidiary of EFH Corp. sold information technology assets to TCEH totaling $24 million. TCEH cash settled these transactions in April 2014. In the third quarter of 2014, additional information technology assets totaling $7 million were sold to TCEH, and a subsidiary of EFH Corp. settled this obligation by drawing on the letter of credit issued by TCEH. The assets are substantially for the use of TCEH and its subsidiaries.

• Under Texas regulatory provisions, the trust fund for decommissioning the Comanche Peak nuclear generation facility is funded by a delivery fee surcharge billed to REPs by Oncor, as collection agent, and remitted monthly to TCEH for contribution to the trust fund with the intent that the trust fund assets, reported in other investments in our condensed consolidated balance sheets, will ultimately be sufficient to fund the future decommissioning liability, reported in noncurrent liabilities in our condensed consolidated balance sheets. The delivery fee surcharges remitted to TCEH totaled $5 million for both the three months ended September 30, 2015 and 2014 and $13 million for both the nine months ended September 30, 2015 and 2014. Income and expenses associated with the trust fund and the decommissioning liability incurred by TCEH are offset by a net change in a receivable/payable that ultimately will be settled through changes in Oncor's delivery fee rates. At September 30, 2015 and December 31, 2014, the excess of the trust fund balance over the decommissioning liability resulted in a payable totaling $372 million and $479 million, respectively, and is reported in noncurrent liabilities. In June 2015, Luminant filed an updated nuclear decommissioning cost study and funding analysis with the PUCT.

• We file a consolidated federal income tax return that includes Oncor Holdings' results. Oncor is not a member of our consolidated tax group, but our consolidated federal income tax return includes our portion of Oncor's results due to our equity ownership in Oncor. We also file a consolidated Texas state margin tax return that includes all of Oncor Holdings' and Oncor's results. However, under a Federal and State Income Tax Allocation Agreement, Oncor Holdings' and Oncor's federal income tax and Texas margin tax expense and related balance sheet amounts, including our income taxes receivable from or payable to Oncor Holdings and Oncor, are recorded as if Oncor Holdings and Oncor file their own corporate income tax returns.

At September 30, 2015, our net current amount receivable from Oncor Holdings related to federal and state income taxes (reported in net payables due to unconsolidated subsidiary) totaled $31 million, $29 million of which related to Oncor. The $29 million net receivable from Oncor included a $14 million state margin tax receivable and a $15 million federal income tax receivable. Additionally, at September 30, 2015 we had a noncurrent tax payable to Oncor of $65 million recorded in other noncurrent liabilities and deferred credits and a noncurrent tax receivable from Oncor Holdings of $2 million recorded in other noncurrent assets. At December 31, 2014, our net current amount payable to Oncor Holdings totaled $120 million, all of which related to Oncor. The $120 million net payable to Oncor included a $144 million federal income tax payable offset by a $24 million state margin tax receivable. Additionally, at December 31, 2014 we had noncurrent tax payable to Oncor of $64 million recorded in other noncurrent liabilities and deferred credits.

For the nine months ended September 30, 2015, EFH Corp. received income tax payments from Oncor Holdings and Oncor totaling $20 million and $63 million, respectively. For the nine months ended September 30, 2014, EFH Corp. received income tax payments from Oncor Holdings and Oncor totaling $17 million and $163 million, respectively.

• Certain transmission and distribution utilities in Texas have requirements in place to assure adequate creditworthiness of any REP to support the REP's obligation to collect securitization bond-related (transition) charges on behalf of the utility. Under these requirements, as a result of TCEH's credit rating being below investment grade, TCEH is required to post collateral support in an amount equal to estimated transition charges over specified time periods. Accordingly, at both September 30, 2015 and December 31, 2014, TCEH had posted letters of credit and/or cash in the amount of $9 million for the benefit of Oncor.

• In December 2012, Oncor became the sponsor of a new pension plan (the Oncor Plan), the participants in which consist of all of Oncor's active employees and all retirees and terminated vested participants of EFH Corp. and its subsidiaries (including discontinued businesses). Oncor had previously contractually agreed to assume responsibility for pension liabilities that are recoverable by Oncor under regulatory rate-setting provisions. As part of the pension plan actions, EFH Corp. fully funded the non-recoverable pension liabilities under the Oncor Plan. After the pension plan actions, participants remaining in the EFH Corp. pension plan consist of active employees under collective bargaining agreements (union employees). Oncor continues to be responsible for the recoverable portion of pension obligations to these union employees. Under ERISA, EFH Corp. and Oncor remain jointly and severally liable for the funding of the EFH Corp. and Oncor pension plans. We view the risk of the retained liability under ERISA related to the Oncor Plan to be not significant.

• In accordance with an agreement between EFH Corp. and Oncor, Oncor ceased participation in EFH Corp.'s OPEB plan effective July 1, 2014 and established its own OPEB plan for Oncor's eligible existing and future retirees and their dependents. Additionally, the Oncor plan participants include those former participants in the EFH Corp. OPEB plan whose employment included service with both Oncor (or a predecessor regulated electricity business) and our competitive businesses (split service participants). Under the agreement, we will retain the liability for split service participants' benefits related to their years of service with the competitive business. The methodology for OPEB cost allocations between EFH Corp. and Oncor has not changed, and the plan separation does not materially affect the net assets or cash flows of EFH Corp.

• EFH Corp.'s condensed consolidated balance sheets reflect unfunded pension and OPEB liabilities related to plans that it sponsors, but also reflects a receivable from Oncor for that portion of the unfunded liabilities for which Oncor is contractually responsible, substantially all of which is expected to be recovered in Oncor's rates. At both September 30, 2015 and December 31, 2014, the receivable amount relates only to the EFH Corp. pension plan and totaled $47 million. The amounts are classified as a noncurrent receivable from unconsolidated subsidiary. Net amounts of pension and OPEB expenses recognized in the three and nine months ended September 30, 2015 and 2014 are not material.

• In the first quarter of 2014, a cash contribution totaling $84 million was made to the EFH Corp. retirement plan, of which $64 million was contributed by Oncor and $20 million was contributed by TCEH, which resulted in the EFH Corp. retirement plan being fully funded as calculated under the provisions of ERISA. As a result of the Bankruptcy Filing, participants in the EFH Corp. retirement plan who choose to retire would not be eligible for the lump sum payout option under the retirement plan unless the EFH Corp. retirement plan was fully funded. The payment by TCEH was accounted for as an advance to EFH Corp. that will be settled as pension and OPEB expenses are allocated to TCEH in the normal course.

• Oncor and Texas Holdings agreed to the terms of a stipulation with major interested parties to resolve all outstanding issues in the PUCT review related to the Merger. As part of this stipulation, TCEH would be required to post a letter of credit in an amount equal to $170 million to secure its payment obligations to Oncor in the event, which has not occurred, two or more rating agencies downgrade Oncor's credit rating below investment grade.

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Goodwill And Identifiable Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table provides information regarding our goodwill balance, all of which relates to the Competitive Electric segment and arose in connection with accounting for the Merger. None of the goodwill is being deducted for tax purposes.

Goodwill before impairment charges	$	18,342
Accumulated noncash impairment charges	(15,990		)
Balance at December 31, 2014	2,352
Additional noncash impairment charges in 2015	(1,400		)
Balance at September 30, 2015 (a)	$	952

____________

(a) Net of accumulated impairment charges totaling $17.39 billion.

Schedule of identifiable intangible assets reported in the balance sheet

Identifiable intangible assets, including amounts that arose in connection with accounting for the Merger, are comprised of the following:

	September 30, 2015						December 31, 2014
Identifiable Intangible Asset	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Retail customer relationship	$	463	$	438	$	25	$	463	$	425	$	38
Capitalized in-service software	356		210		146		362		216		146
Other identifiable intangible assets (a)	58		27		31		460		291		169
Total identifiable intangible assets subject to amortization	$	877	$	675	202		$	1,285	$	932	353
Retail trade name (not subject to amortization)					955						955
Mineral interests (not currently subject to amortization)					6						7
Total identifiable intangible assets					$	1,163					$	1,315

____________

(a) See discussion below regarding impairment charges recorded in the three and nine months ended September 30, 2015 related to other identifiable intangible assets.

Schedule of amortization expense related to intangible assets (including income statement line item)

Amortization expense related to finite-lived identifiable intangible assets (including the condensed statements of consolidated income (loss) line item) consisted of:

Identifiable Intangible Asset	Condensed Statement of Consolidated Income (Loss) Line	Segment	Three Months Ended September 30,				Nine Months Ended September 30,
			2015		2014		2015		2014
Retail customer relationship	Depreciation and amortization	Competitive Electric	$	4	$	6	$	13	$	17
Capitalized in-service software	Depreciation and amortization	Competitive Electric and Corporate and Other	13		11		35		34
Other identifiable intangible assets	Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization	Competitive Electric	9		19		21		56
Total amortization expense (a)			$	26	$	36	$	69	$	107

____________

(a) Amounts recorded in depreciation and amortization totaled $21 million and $25 million for the three months ended September 30, 2015 and 2014, respectively, and $54 million and $76 million for the nine months ended September 30, 2015 and 2014, respectively.

Schedule of estimated aggregate amortization expense of intangible assets for each of the next five fiscal years

The estimated aggregate amortization expense of identifiable intangible assets for each of the next five fiscal years is as follows:

Year	Estimated Amortization Expense
2015	$	86
2016	$	61
2017	$	50
2018	$	30
2019	$	16

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Interest Expense and Related Charges (Contractual Interest Expense on Pre-Petition Liabilities) (Details) - USD ($) $ in Millions		3 Months Ended			5 Months Ended		9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2014		Sep. 30, 2015
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise		$ 623		$ 630	$ 1,122		$ 1,868
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		296		293	494		875
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0	[1]	0	54	[1]	50	[1]
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		327		337	574		943
Adequate Protection Interest Paid-Accrued, Amount Excluded Related To Terminated Natural Gas Hedging Positions And Interest Rate Swaps		15		15	25		44
Post-Petition Interest Related to Prior Periods Paid And Accrued On Pre-Petition Debt							185
EFH Corp. [Member]
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise		31		31	53		94
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		0		0	0		0
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0		0	0		0
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		31		31	53		94
Energy Future Intermediate Holding CO LLC [Member]
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise		101		114	248		314
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		0		0	0		0
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0		0	54	[1]	50	[1]
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		101		114	194		264
Energy Future Competitive Holdings Company [Member]
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise		2		2	3		5
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		0		0	0		0
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0		0	0		0
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		2		2	3		5
Texas Competitive Electric Holdings Company LLC [Member]
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise		520		514	871		1,548
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		296		293	494		875
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0		0	0		0
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		224		221	377		673
Consolidation, Eliminations [Member]
Contractual Interest Expense On Pre-Petition Liabilities [Line Items]
Contractual Interest Expense On Pre-Petition Liabilities Classified As Liabilities Subject To Compromise	[2]	(31)		(31)	(53)		(93)
Interest Expense On Prepetition Liabilities Recognized In Statement of Operations, Adequate Protection Paid Or Accrued		0		0	0		0
Interest Expense On Prepetition Liabilities Recognized In Statement Of Operations, Paid or Accrued Amounts Allowed On Notes Exchanged-Settled-Repaid		0		0	0		0
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations	[2]	$ (31)		$ (31)	$ (53)		$ (93)

[1] For the nine months ended September 30, 2015 represents portion of interest related to the EFIH Second Lien Notes that was repaid based on the approval of the Bankruptcy Court; however, excludes $185 million of post-petition interest paid in 2015 that contractually related to 2014 and default interest (see Note 10). For the post-petition period ended September 30, 2014, represents interest on EFIH First Lien Notes exchanged and settled in June 2014

[2] Represents contractual interest on affiliate debt held by EFH Corp. and EFIH that is classified as LSTC.

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Goodwill And Identifiable Intangible Assets (Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 01, 2014
Goodwill [Line Items]
Impairment of goodwill	$ 700		$ 0	$ 1,400	$ 0
Balance, goodwill	$ 952			$ 952		$ 2,352
Discount rate Applied to Internally Developed Cash Flow Projections	6.00%	6.00%		6.00%			6.25%
Competitive Electric [Member]
Goodwill [Line Items]
Goodwill before impairment charges						18,342
Accumulated noncash impairment charges	$ (17,390)			$ (17,390)		(15,990)
Impairment of goodwill				1,400
Balance, goodwill	952			952		$ 2,352
Goodwill, Period Increase (Decrease)	700	$ 700	$ 0	1,400	$ 0
Goodwill, Expected Tax Deductible Amount	$ 0			$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	50.00%	34.00%		50.00%			17.00%

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Condensed Statements Of Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows — operating activities:
Net income (loss)	$ (3,199)	$ (1,334)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization	757	1,118
Deferred income tax benefit, net	(784)	(604)
Impairment of goodwill	1,400	0
Impairment of long-lived assets	1,971	30
Contract rejection claims	26	0
Fees paid on EFIH Second Lien Notes repayment (reported as financing activities)	28	0
Fees paid for DIP Facilities (reported as financing activities)	0	180
Loss on exchange and settlement of EFIH First Lien Notes	0	108
Unrealized net (gain) loss from mark-to-market valuations of commodity positions	(107)	502
Unrealized net (gain) from mark-to-market valuations of interest rate swaps	0	(1,303)
Liability adjustment arising from termination of interest rate swaps	0	278
Noncash realized loss on termination of interest rate swaps	0	1,237	[1]
Noncash realized gain on termination of natural gas hedging positions	0	(117)
Interest expense on toggle notes payable in additional principal	0	65
Amortization of debt related costs, discounts, fair value discounts and losses on dedesignated cash flow hedges	0	72
Equity in earnings of unconsolidated subsidiaries	(278)	(276)
Distributions of earnings from unconsolidated subsidiaries	206	128
Impairment of intangible assets	83	0
Other, net	49	52
Changes in operating assets and liabilities:
Margin deposits, net	108	(270)
Accrued interest	(1)	512
Payable due to unconsolidated subsidiary	(113)	(32)
Other operating assets and liabilities, including liabilities subject to compromise	(269)	(79)
Cash provided by (used in) operating activities	(123)	267
Cash flows — financing activities:
Repayments/repurchases of debt	(469)	(2,536)
Fees paid on EFIH Second Lien Notes repayment	(28)	0
Proceeds from DIP Facilities before fees paid	0	4,989
Fees paid for DIP Facilities	0	(180)
Other, net	0	1
Cash provided by (used in) financing activities	(497)	2,274
Cash flows — investing activities:
Capital expenditures	(261)	(249)
Nuclear fuel purchases	(77)	(76)
Changes in restricted cash	33	194
Proceeds from sales of nuclear decommissioning trust fund securities	315	250
Investments in nuclear decommissioning trust fund securities	(328)	(263)
Other, net	11	(8)
Cash used in investing activities	(307)	(152)
Net change in cash and cash equivalents	(927)	2,389
Cash and cash equivalents — beginning balance	3,428	1,217
Cash and cash equivalents — ending balance	$ 2,501	$ 3,606

[1] Includes $1.225 billion related to terminated TCEH interest rate swaps (see Note 14) and $12 million related to other interest rate swaps.

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Goodwill And Identifiable Intangible Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Identifiable Intangible Assets

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

The following table provides information regarding our goodwill balance, all of which relates to the Competitive Electric segment and arose in connection with accounting for the Merger. None of the goodwill is being deducted for tax purposes.

Goodwill before impairment charges	$	18,342
Accumulated noncash impairment charges	(15,990		)
Balance at December 31, 2014	2,352
Additional noncash impairment charges in 2015	(1,400		)
Balance at September 30, 2015 (a)	$	952

____________

(a) Net of accumulated impairment charges totaling $17.39 billion.

Goodwill Impairments

Goodwill and intangible assets with indefinite useful lives are required to be tested for impairment at least annually (we have selected a December 1 test date) or whenever events or changes in circumstances indicate an impairment may exist.

We perform the following steps in testing goodwill for impairment: first, we estimate the debt-free enterprise value of the business as of the testing date taking into account future estimated cash flows and current securities values of comparable companies; second, we estimate the fair values of the individual assets and liabilities of the business at that date; third, we calculate implied goodwill as the excess of the estimated enterprise value over the estimated value of the net operating assets; and finally, we compare the implied goodwill amount to the carrying value of goodwill and, if the carrying amount exceeds the implied value, we record an impairment charge for the amount the carrying value of goodwill exceeds implied goodwill.

Wholesale electricity prices in the ERCOT market, in which our Competitive Electric segment largely operates, have generally moved with natural gas prices as marginal electricity demand is generally supplied by natural gas fueled generation facilities. Accordingly, the sustained decline in natural gas prices, which we have experienced since mid-2008, negatively impacts our profitability and cash flows and reduces the value of our generation assets, which consist largely of lignite/coal and nuclear fueled facilities. While we had partially mitigated these effects with hedging activities, we are now significantly exposed to this price risk. Because of this market condition, our analyses over the past several years have indicated that the carrying value of the Competitive Electric segment exceeds its estimated fair value (enterprise value). Consequently, we continually monitor trends in electricity prices, natural gas prices, market heat rates, capital spending for environmental and other projects and other operational factors to determine if goodwill impairment testing should be done during the course of a year and not only at the annual December 1 testing date.

During the three months ended September 30, 2015, we experienced an impairment indicator related to decreases in forward wholesale electricity prices when compared to those prices reflected in our March 31, 2015 goodwill impairment testing analysis. As a result, the likelihood of a goodwill impairment had increased, and we initiated further testing of goodwill as of September 30, 2015. We substantially completed our testing of goodwill for impairment during the period and recorded an estimated impairment of $700 million at September 30, 2015, which we reported in the Competitive Electric segment results.

During the three months ended March 31, 2015, we experienced an impairment indicator related to decreases in forward wholesale electricity prices when compared to those prices reflected in our December 1, 2014 goodwill impairment testing analysis. As a result, the likelihood of a goodwill impairment had increased, and we initiated further testing of goodwill as of March 31, 2015. We completed our testing of goodwill for impairment during the period, which resulted in an impairment of $700 million of goodwill at March 31, 2015, which we reported in the Competitive Electric segment results.

There was no change to the goodwill balance for the three and nine months ended September 30, 2014.

Key inputs into our goodwill impairment testing at September 30 and March 31, 2015 and December 1, 2014 were as follows:

• The carrying value (excluding debt) of the Competitive Electric segment exceeded its estimated enterprise value by approximately 50% at September 30, 2015, 34% at March 31, 2015 and by 17% at December 1, 2014.

• The fair value of the Competitive Electric segment was estimated using a two-thirds weighting of value based on internally developed cash flow projections and a one-third weighting of value using implied cash flow multiples based on current securities values of comparable publicly traded companies. The internally developed cash flow projections reflect annual estimates through a terminal year calculated using a terminal year EBITDA multiple approach.

• The discount rates applied to internally developed cash flow projections were 6.00%, 6.00% and 6.25% at September 30, 2015, March 31, 2015 and December 1, 2014, respectively. The discount rate represents the weighted average cost of capital consistent with our views of the rate that an expected market participant would utilize for valuation, including the risk inherent in future cash flows, taking into account the capital structure, debt ratings and current debt yields of comparable public companies as well as an estimate of return on equity that reflects historical market returns and current market volatility for the industry.

• The cash flow projections used in both 2015 and 2014 assume rising wholesale electricity prices, although the forecasted electricity prices are less than those assumed in the cash flow projections used in prior goodwill impairment testing.

The impairment determinations involved significant assumptions and judgments. The calculations supporting the estimates of the fair value of our Competitive Electric segment and the fair values of its assets and liabilities utilized models that take into consideration multiple inputs, including commodity prices, operating parameters, discount rates, capital expenditures, the effects of proposed and final environmental regulations, securities prices of comparable publicly traded companies and other inputs. Assumptions regarding each of these inputs could have a significant effect on the related valuations. In performing these calculations, we also take into consideration assumptions on how current market participants would value the Competitive Electric segment and its operating assets and liabilities. Changes to assumptions that reflect the views of current market participants can also have a significant effect on the related valuations. The fair value measurements resulting from these models are classified as non-recurring Level 3 measurements consistent with accounting standards related to the determination of fair value (see Note 13). Because of the volatility of these factors, we cannot predict the likelihood of any future impairment.

Identifiable Intangible Assets

Identifiable intangible assets, including amounts that arose in connection with accounting for the Merger, are comprised of the following:

	September 30, 2015						December 31, 2014
Identifiable Intangible Asset	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Retail customer relationship	$	463	$	438	$	25	$	463	$	425	$	38
Capitalized in-service software	356		210		146		362		216		146
Other identifiable intangible assets (a)	58		27		31		460		291		169
Total identifiable intangible assets subject to amortization	$	877	$	675	202		$	1,285	$	932	353
Retail trade name (not subject to amortization)					955						955
Mineral interests (not currently subject to amortization)					6						7
Total identifiable intangible assets					$	1,163					$	1,315

____________

(a) See discussion below regarding impairment charges recorded in the three and nine months ended September 30, 2015 related to other identifiable intangible assets.

At September 30, 2015 and December 31, 2014, amounts related to fully amortized assets that are expired, or of no economic value, have been excluded from both the gross carrying and accumulated amortization amounts in the table above.

Amortization expense related to finite-lived identifiable intangible assets (including the condensed statements of consolidated income (loss) line item) consisted of:

Identifiable Intangible Asset	Condensed Statement of Consolidated Income (Loss) Line	Segment	Three Months Ended September 30,				Nine Months Ended September 30,
			2015		2014		2015		2014
Retail customer relationship	Depreciation and amortization	Competitive Electric	$	4	$	6	$	13	$	17
Capitalized in-service software	Depreciation and amortization	Competitive Electric and Corporate and Other	13		11		35		34
Other identifiable intangible assets	Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization	Competitive Electric	9		19		21		56
Total amortization expense (a)			$	26	$	36	$	69	$	107

____________

(a) Amounts recorded in depreciation and amortization totaled $21 million and $25 million for the three months ended September 30, 2015 and 2014, respectively, and $54 million and $76 million for the nine months ended September 30, 2015 and 2014, respectively.

Intangible Impairments

The impairments of our generation facilities in March and September 2015 (see Note 6) resulted in the impairment of the SO₂ allowances under the Clean Air Act's acid rain cap-and-trade program that are associated with those facilities to the extent they are not projected to be used at other sites. The fair market values of the SO₂ allowances were estimated to be de minimis based on Level 3 fair value estimates (see Note 13). We also impaired certain of our SO₂ allowances under the Cross-State Air Pollution Rule (CSAPR) related to the impaired generation facilities. Accordingly, in the three and nine months ended September 30, 2015, we recorded noncash impairment charges of $4 million and $55 million, respectively, in our Competitive Electric segment (before deferred income tax benefit) in other deductions related to our existing environmental allowances and credits intangible asset. SO₂ emission allowances granted to us under the acid rain cap-and-trade program were recorded as intangible assets at fair value in connection with purchase accounting related to the Merger in 2007. Additionally, the impairments of our generation and related mining facilities in September 2015 resulted in our recording noncash impairment charges of $19 million in our Competitive Electric segment (before deferred income tax benefit) in other deductions related to mine development costs (included in other identifiable intangible assets in the table above) at the facilities.

During the three months ended March 31, 2015, we determined that certain intangible assets related to favorable power purchase contracts should be evaluated for impairment. That conclusion was based on further declines in wholesale electricity prices in ERCOT experienced during the three months ended March 31, 2015. Our fair value measurement was based on a discounted cash flow analysis of the contracts that compared the contractual price and terms of the contract to forecasted wholesale electricity and renewable energy credit prices in ERCOT. As a result of the analysis, we recorded a noncash impairment charge of $8 million in our Competitive Electric segment (before deferred income tax benefit) in other deductions (see Note 17).

Estimated Amortization of Identifiable Intangible Assets

The estimated aggregate amortization expense of identifiable intangible assets for each of the next five fiscal years is as follows:

Year	Estimated Amortization Expense
2015	$	86
2016	$	61
2017	$	50
2018	$	30
2019	$	16

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Liabilities Subject to Compromise (Information Regarding Significant Outstanding Pre-Petition Debt) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 34,679	$ 35,124
Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,664	1,664
Texas Competitive Electric Holdings Company LLC [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		31,474	31,474
Texas Competitive Electric Holdings Company LLC [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		22,616
Texas Competitive Electric Holdings Company LLC [Member] | Line of Credit [Member] | Term Loan Facilities maturing October 10, 2014 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 3,809	3,809
Debt Instrument, Basis Spread on Variable Rate		3.50%
Texas Competitive Electric Holdings Company LLC [Member] | Line of Credit [Member] | Term Loan Facilities maturing October 10, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise	[1]	$ 15,691	15,691
Debt Instrument, Basis Spread on Variable Rate		4.50%
Texas Competitive Electric Holdings Company LLC [Member] | Line of Credit [Member] | Term Loan Facilities maturing October 10, 2017 [Member] | Consolidation, Eliminations [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 19	19
Texas Competitive Electric Holdings Company LLC [Member] | Letter of Credit [Member] | Letter of Credit Facility maturing October 10, 2014 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 42	42
Debt Instrument, Basis Spread on Variable Rate		3.50%
Texas Competitive Electric Holdings Company LLC [Member] | Letter of Credit [Member] | Letter of Credit Facility maturing October 10, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,020	1,020
Debt Instrument, Basis Spread on Variable Rate		4.50%
Texas Competitive Electric Holdings Company LLC [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility maturing October 2016 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 2,054	2,054
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,571
Texas Competitive Electric Holdings Company LLC [Member] | Senior Secured Debt [Member] | 11.5% Fixed Senior Secured Notes due October 1, 2020 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		1,750	1,750
Texas Competitive Electric Holdings Company LLC [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		4,874
Texas Competitive Electric Holdings Company LLC [Member] | Senior Notes [Member] | Consolidation, Eliminations [Member] | Financial guarantee [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		363
Energy Future Intermediate Holding CO LLC [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		3,401	3,846
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 6.875% Senior Secured First Lien Notes due August 15, 2017 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 0
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 6.875% Senior Secured First Lien Notes due August 15, 2017 [Member] | Oncor Holdings [Member]
Debt Instrument [Line Items]
Pledged Ownership Membership Interest Percentage		100.00%
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 10% Fixed Senior Secured First Lien Notes due December 1, 2020 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 0
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11% Fixed Senior Secured Second Lien Notes due October 1, 2021 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		322	406
Energy Future Intermediate Holding CO LLC [Member] | Senior Secured Debt [Member] | 11.75% Fixed Senior Secured Second Lien Notes due March 1, 2022 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,389	1,750
Debt Instrument, Registration Default, if not filed and declared effective after original issue date, variable interest rate increase for first ninety days		0.25%
Debt Instrument, Registration Default, if not filed and declared effective after original issue date, total variable interest rate increase after first ninety day period		0.25%
Debt Instrument Registration Default If Not Fled And Declared Effective After Original Issue Date, Total Interest Rate Percentage For First Ninety Days		12.00%
Debt Instrument Registration Default If Not Registered Within One Year Of Original Issue Date, Total Interest Rate Percentage After First Ninety Days		12.25%
Energy Future Intermediate Holding CO LLC [Member] | Senior Notes [Member] | 11.25%/ 12.25% Senior Toggle Notes due December 1, 2018 [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 1,566	1,566
Debt Instrument, Registration Default, if not filed and declared effective after original issue date, variable interest rate increase for first ninety days		0.25%
Debt Instrument, Registration Default, if not filed and declared effective after original issue date, total variable interest rate increase after first ninety day period		0.25%
Debt Instrument Registration Default If Not Fled And Declared Effective After Original Issue Date, Total Interest Rate Percentage For First Ninety Days		11.50%
Debt Instrument Registration Default If Not Registered Within One Year Of Original Issue Date, Total Interest Rate Percentage After First Ninety Days		11.75%
Energy Future Intermediate Holding CO LLC [Member] | Senior Notes [Member] | 11.25%/ 12.25% Senior Toggle Notes due December 1, 2018 [Member] | Until June 1, 2016 [Member]
Debt Instrument [Line Items]
Debt Instrument, Options to Pay Interest, Percentage Allowed in Cash		50.00%
Debt Instrument, Options to Pay Interest, Percentage Allowed in PIK Interest		50.00%
EFH Corp. [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 529	$ 529
EFH Corp. [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Pre-petition notes, loans and other debt reported as liabilities subject to compromise		$ 60

[1] Excludes the following principal amounts of debt held by EFIH or EFH Corp. (parent entity) and eliminated in consolidation. September 30, 2015 December 31, 2014EFH Corp. 5.55% Fixed Series P Senior Notes due November 15, 2014$281 $281EFH Corp. 6.50% Fixed Series Q Senior Notes due November 15, 2024545 545EFH Corp. 6.55% Fixed Series R Senior Notes due November 15, 2034456 456TCEH Floating Rate Term Loan Facilities due October 10, 201719 19TCEH 10.25% Fixed Senior Notes due November 1, 2015213 213TCEH 10.25% Fixed Senior Notes due November 1, 2015, Series B150 150Total$1,664 $1,664

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Supplementary Financial Information (Other Noncurrent Liabilities and Deferred Credits) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Other Noncurrent Liabilities Noncurrent and Deferred Credits [Line Items]
Uncertain tax positions, including accrued interest		$ 53		$ 53		$ 74
Retirement plan and other employee benefits	[1]	248		248		243
Asset retirement and mining reclamation obligations		671		671		560
Unfavorable purchase and sales contracts		549		549		566
Nuclear decomissioning cost over-recovery		372		372		479
Other		190		190		155
Total other noncurrent liabilities and deferred credits		2,083		2,083		2,077
Income tax benefit		(452)	$ (72)	(990)	$ (830)
Amortization of Deferred Charges
Amortization of Unfavorable Purchase and Sales Contracts		6	$ 6	17	$ 17
Estimated Future Amortization Expense
2015				24
2016				24
2017				24
2018				24
2019				24
Oncor [Member]
Other Noncurrent Liabilities Noncurrent and Deferred Credits [Line Items]
Retirement plan and other employee benefits		$ 47		$ 47		$ 47

[1] Includes $47 million at both September 30, 2015 and December 31, 2014, representing pension liabilities related to Oncor

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Commodity And Other Derivative Contractual Assets And Liabilities (Derivative Assets and Liabilities From Balance Sheet to Net Amounts After Consideration Netting Arrangements with Counterparties and Financial Collateral) (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net		$ 259	$ 180
Derivative (Assets) Liability, Fair Value of Collateral, Net	[1]	(122)	(14)
Derivative Assets (Liability), Fair Value, Amount Offset Against Collateral		137	166
Commodity contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative assets: Amounts Presented in Balance Sheet		423	497
Derivative assets: Offsetting Financial Instruments	[2]	(142)	(298)
Derivative assets: Financial Collateral (Received) Pledged	[1]	(123)	(16)
Derivative assets: Net Amounts		158	183
Derivative liabilities: Amounts Presented in Balance Sheet		(164)	(317)
Derivative liabilities: Offsetting Financial Instruments	[2]	142	298
Derivative liabilities: Financial Collateral (Received) Pledged	[1]	1	2
Derivative liabilities: Net Amounts		$ (21)	$ (17)

[1] Financial collateral consists entirely of cash margin deposits.

[2] Amounts presented exclude trade accounts receivable and payable related to settled financial instruments.

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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Calculation of Effective Income Tax Rate

The calculation of our effective tax rate is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Loss before income taxes and equity in earnings of unconsolidated subsidiaries	$	(2,039	)	$	(146	)	$	(4,467	)	$	(2,440	)
Income tax benefit	$	452		$	72		$	990		$	830
Effective tax rate	22.2		%	49.3		%	22.2		%	34.0		%

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Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) Reportable_segment	Sep. 30, 2014 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments (in reportable segments) | Reportable_segment			2
Operating revenues (all Competitive Electric)	$ 1,737	$ 1,807	$ 4,265	$ 4,731
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	127	123	278	276
Net income (loss):	(1,460)	49	(3,199)	(1,334)
Competitive Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues (all Competitive Electric)	1,737	1,807	4,265	4,731
Net income (loss):	(1,517)	(37)	(3,068)	(1,195)
Regulated Delivery [Member]
Segment Reporting Information [Line Items]
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	127	123	278	276
Net income (loss):	127	123	278	276
Corp. and Other [Member]
Segment Reporting Information [Line Items]
Net income (loss):	(70)	(37)	(409)	(415)
Noncontrolling Interest [Member]
Segment Reporting Information [Line Items]
Equity in earnings of unconsolidated subsidiaries (net of tax) — Regulated Delivery (net of noncontrolling interests of $33, $32, $72 and $71)	$ 33	$ 32	$ 72	$ 71

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Chapter 11 Cases (Chapter 11 Cases) (Details) $ in Millions	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Nov. 03, 2015	Sep. 22, 2015 USD ($)
Schedule of Reorganization Costs [Line Items]
Proposed Plan Of Reorganization, Maximum Reimbursement Of Fees And Expenses In Event Of Termination Of Merger And Purchase Agreement, Backstop Agreement Or Equity Commitment Letter							$ 35
Contract rejection claims	$ (2)	$ 0	$ 0	$ 26	$ 0
Subsequent Event [Member]
Schedule of Reorganization Costs [Line Items]
Bankruptcy Claims, Number of Claims under Review by Management						13,900
Bankruptcy Claims, Number Of Claims Settled, Withdrawn or Expunged By Bankruptcy Court						5,000
Investor Group [Member]
Schedule of Reorganization Costs [Line Items]
Proposed Plan Of Reorganization, Equity And Debt Financing To Be Raised And Invested In Reorganized EFH							12,600
Proposed Plan Of Reorganization, Merger And Purchase Agreement, Equity Commitment Letter							2,013
Senior Secured Term Loan Facility [Member] | Investor Group [Member] | Debt Commitment Letter [Member]
Schedule of Reorganization Costs [Line Items]
Proposed Plan Of Reorganization, Merger And Purchase Agreement, Debt Commitment Letter							5,500
Senior Secured Bridge Loan Facility [Member] | Investor Group [Member] | Debt Commitment Letter [Member]
Schedule of Reorganization Costs [Line Items]
Proposed Plan Of Reorganization, Merger And Purchase Agreement, Debt Commitment Letter							300
Rights Offering Participants [Member] | Ovation Acquisition I, LLC [Member]
Schedule of Reorganization Costs [Line Items]
Rights Offering, Offering Of Equity Rights In Common Stock							5,787
Rights Offering Participants [Member] | Backstop Purchasers [Member]
Schedule of Reorganization Costs [Line Items]
Rights Offering, Backstop Agreement							5,087
Holders Of Unsecured Debt Claims, Second Lien Debt Claims And General Unsecured Claims [Member] | Ovation Acquisition I, LLC [Member]
Schedule of Reorganization Costs [Line Items]
Rights Offering, Offering Of Equity Rights In Common Stock							5,087
Holders Of First Lien Secured Claims Against TCEH [Member] | Ovation Acquisition I, LLC [Member]
Schedule of Reorganization Costs [Line Items]
Rights Offering, Offering Of Equity Rights In Common Stock							$ 700

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Commodity And Other Derivative Contractual Assets And Liabilities

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity And Other Derivative Contractual Assets And Liabilities

COMMODITY AND OTHER DERIVATIVE CONTRACTUAL ASSETS AND LIABILITIES

Strategic Use of Derivatives

We transact in derivative instruments, such as options, swaps, futures and forward contracts, to manage commodity price risk. Because certain of these instruments are deemed to be forward contracts under the Bankruptcy Code, they are not subject to the automatic stay, and counterparties may elect to terminate the agreements. Prior to the Petition Date, we had entered into interest rate swaps to manage our interest rate risk exposure. See Note 13 for a discussion of the fair value of derivatives.

Commodity Hedging and Trading Activity — TCEH has natural gas hedging positions designed to reduce exposure to changes in future electricity prices due to changes in the price of natural gas, thereby hedging future revenues from electricity sales and related cash flows. In ERCOT, the wholesale price of electricity has generally moved with the price of natural gas. TCEH has entered into market transactions involving natural gas-related financial instruments and has sold forward natural gas through 2016 in order to hedge a portion of electricity price exposure related to expected lignite/coal and nuclear fueled generation. TCEH also enters into derivatives, including electricity, natural gas, fuel oil, uranium, emission and coal instruments, generally for short-term hedging purposes. Consistent with existing Bankruptcy Court orders, to a limited extent, TCEH also enters into derivative transactions for proprietary trading purposes, principally in natural gas and electricity markets. Unrealized gains and losses arising from changes in the fair value of hedging and trading instruments as well as realized gains and losses upon settlement of the instruments are reported in the condensed statements of consolidated income (loss) in net gain (loss) from commodity hedging and trading activities.

Interest Rate Swap Transactions — Interest rate swap agreements have been used to reduce exposure to interest rate changes by converting floating-rate debt to fixed rates, thereby hedging future interest costs and related cash flows. Interest rate basis swaps were used to effectively reduce the hedged borrowing costs. Unrealized gains and losses arising from changes in the fair value of the swaps as well as realized gains and losses upon settlement of the swaps were reported in the condensed statements of consolidated income (loss) in interest expense and related charges. As of September 30, 2015 and December 31, 2014, we had no active interest rate swap derivatives.

Termination of Commodity Hedges and Interest Rate Swaps — Commodity hedges and interest rate swaps entered into prior to the Petition Date are deemed to be forward contracts under the Bankruptcy Code. The Bankruptcy Filing constituted an event of default under these arrangements, and in accordance with the contractual terms, counterparties terminated certain positions shortly after the Bankruptcy Filing. The positions terminated consisted almost entirely of natural gas hedging positions and interest rate swaps that were secured by a first-lien interest in the same assets of TCEH on a pari passu basis with the TCEH Senior Secured Facilities and the TCEH Senior Secured Notes.

Entities with a first-lien security interest included counterparties to both our natural gas hedging positions and interest rate swaps, which had entered into master agreements that provided for netting and setoff of amounts related to these positions. Additionally, certain counterparties to only our interest rate swaps hold the same first-lien security interest. The net liability recorded upon the terminations totaled $1.108 billion, which represented a realized loss of $1.225 billion related to the interest rate swaps, net of a realized gain of $117 million related to the natural gas hedging positions. Additionally, net accounts payable amounts related to matured interest rate swaps of $127 million are also secured by the same first-lien secured interest. The total net liability of $1.235 billion is subject to the terms of settlement of TCEH's first-lien claims ultimately approved by the Bankruptcy Court and is reported in the condensed consolidated balance sheets as a liability subject to compromise. Additionally, counterparties associated with the net liability are allowed, and have been receiving, adequate protection payments related to their claims as permitted by TCEH's cash collateral order approved by the Bankruptcy Court (see Note 7).

The derivative liability related to the TCEH interest rate swaps had included a nonperformance risk adjustment (resulting in a Level 3 valuation). This fair value adjustment reflected the counterparties' exposure to our credit risk. The amount of the adjustment was after consideration of derivative assets related to natural gas hedging positions with the same counterparties. The difference between the net liability arising upon the termination of the interest rate swaps and the natural gas hedging positions and the net derivative assets and liabilities recorded totaled $278 million, substantially all of which represented the nonperformance risk adjustment, and is reported as a noncash charge in reorganization items in the condensed statements of consolidated income (loss) in accordance with ASC 852-10, Reorganizations (see Note 8).

Financial Statement Effects of Derivatives

Substantially all derivative contractual assets and liabilities arise from mark-to-market accounting consistent with accounting standards related to derivative instruments and hedging activities. The following tables provide detail of commodity and other derivative contractual assets and liabilities (with the column totals representing the net positions of the contracts) as reported in the condensed consolidated balance sheets at September 30, 2015 and December 31, 2014. All amounts relate to commodity contracts.

	September 30, 2015					December 31, 2014
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Current assets	$	393	$	—		$	492	$	—
Noncurrent assets	14		16			5		—
Current liabilities	—		(160		)	—		(316		)
Noncurrent liabilities	—		(4		)	—		(1		)
Net assets (liabilities)	$	407	$	(148	)	$	497	$	(317	)

At September 30, 2015 and December 31, 2014, there were no derivative positions accounted for as cash flow or fair value hedges.

The following table presents the pretax effect of derivatives on net income (gains (losses)), including realized and unrealized effects:

	Three Months Ended September 30,				Nine Months Ended September 30,
Derivative (condensed statements of consolidated income (loss) presentation)	2015		2014		2015		2014
Commodity contracts (Net gain (loss) from commodity hedging and trading activities) (a)	$	130	$	54	$	281	$	(114	)
Interest rate swaps (Interest expense and related charges) (b)	—		—		—		(128		)
Interest rate swaps (Reorganization items) (Note 8)	—		—		—		(278		)
Net gain (loss)	$	130	$	54	$	281	$	(520	)

____________

(a) Amount represents changes in fair value of positions in the derivative portfolio during the period, as realized amounts related to positions settled are assumed to equal reversals of previously recorded unrealized amounts.

(b) Includes unrealized mark-to-market net gain (loss) as well as the net realized effect on interest paid/accrued, both reported in Interest Expense and Related Charges (see Note 7).

The pretax effect (all losses) on net income and other comprehensive income (OCI) of derivative instruments previously accounted for as cash flow hedges was immaterial in both the three and nine months ended September 30, 2015 and 2014. There were no amounts recognized in OCI for the three and nine months ended September 30, 2015 and 2014.

Accumulated other comprehensive income related to cash flow hedges (excluding Oncor's interest rate hedges) at September 30, 2015 and December 31, 2014 totaled $35 million and $36 million in net losses (after-tax), respectively, substantially all of which relates to interest rate swaps previously accounted for as cash flow hedges. We expect that $2 million of net losses (after-tax) related to cash flow hedges included in accumulated other comprehensive income at September 30, 2015 will be reclassified into net income during the next twelve months as the related hedged transactions affect net income.

Balance Sheet Presentation of Derivatives

Consistent with elections under US GAAP to present amounts on a gross basis, we report derivative assets and liabilities in the condensed consolidated balance sheets without taking into consideration netting arrangements we have with counterparties. We may enter into offsetting positions with the same counterparty, resulting in both assets and liabilities. Volatility in underlying commodity prices can result in significant changes in assets and liabilities presented from period to period.

Margin deposits that contractually offset these derivative instruments are reported separately in the condensed consolidated balance sheets. Margin deposits received from counterparties are either used for working capital or other corporate purposes or are deposited in a separate restricted cash account. At September 30, 2015 and December 31, 2014, all margin deposits held were unrestricted.

We maintain standardized master netting agreements with certain counterparties that allow for the netting of positive and negative exposures. Generally, we utilize the International Swaps and Derivatives Association (ISDA) standardized contract for financial transactions, the Edison Electric Institute standardized contract for physical power transactions and the North American Energy Standards Board (NAESB) standardized contract for physical natural gas transactions. These contain credit enhancements that allow for the right to offset assets and liabilities and collateral received in order to reduce credit exposure between us and the counterparty. These agreements contain specific language related to margin requirements, monthly settlement netting, cross-commodity netting and early termination netting, which is negotiated with the contract counterparty.

The following tables reconcile our derivative assets and liabilities as presented in the condensed consolidated balance sheets to net amounts after taking into consideration netting arrangements with counterparties and financial collateral:

September 30, 2015
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	423		$	(142	)	$	(123	)	$	158
Derivative liabilities:
Commodity contracts	(164		)	142			1			(21		)
Net amounts	$	259		$	—		$	(122	)	$	137

December 31, 2014
	Amounts Presented in Balance Sheet			Offsetting Instruments (a)			Financial Collateral (Received) Pledged (b)			Net Amounts
Derivative assets:
Commodity contracts	$	497		$	(298	)	$	(16	)	$	183
Derivative liabilities:
Commodity contracts	(317		)	298			2			(17		)
Net amounts	$	180		$	—		$	(14	)	$	166

____________

(a) Amounts presented exclude trade accounts receivable and payable related to settled financial instruments.

(b) Financial collateral consists entirely of cash margin deposits.

Derivative Volumes

The following table presents the gross notional amounts of derivative volumes at September 30, 2015 and December 31, 2014:

	September 30, 2015	December 31, 2014
Derivative type	Notional Volume		Unit of Measure
Natural gas (a)	1,821	1,687	Million MMBtu
Electricity	43,425	22,820	GWh
Congestion Revenue Rights (b)	94,195	89,484	GWh
Coal	8	10	Million US tons
Fuel oil	42	36	Million gallons
Uranium	126	150	Thousand pounds

____________

(a) Represents gross notional forward sales, purchases and options transactions, locational basis swaps and other natural gas transactions.

(b) Represents gross forward purchases associated with instruments used to hedge electricity price differences between settlement points within ERCOT.

Credit Risk-Related Contingent Features of Derivatives

The agreements that govern our derivative instrument transactions may contain certain credit risk-related contingent features that could trigger liquidity requirements in the form of cash collateral, letters of credit or some other form of credit enhancement. Certain of these agreements require the posting of collateral if our credit rating is downgraded by one or more credit rating agencies; however, due to our credit ratings being below investment grade, substantially all of such collateral posting requirements have already been effective.

At September 30, 2015 and December 31, 2014, the fair value of liabilities related to derivative instruments under agreements with credit risk-related contingent features that were not fully collateralized and the liquidity exposure associated with those liabilities were immaterial.

In addition, certain derivative agreements that are collateralized primarily with liens on certain of our assets include indebtedness cross-default provisions that have resulted in the termination of such contracts as a result of the Bankruptcy Filing. Substantially all of the credit risk-related contingent features related to these derivatives, including amounts related to cross-default provisions, were triggered upon the Bankruptcy Filing, and substantially all of the contracts have been cancelled. There was no liquidity exposure associated with these liabilities at both September 30, 2015 and December 31, 2014. See Note 10 for a description of other pre-petition obligations that are supported by liens on certain of our assets.

As discussed immediately above, the aggregate fair values of liabilities under derivative agreements with credit risk-related contingent features, including cross-default provisions, were not material at both September 30, 2015 and December 31, 2014.

Some commodity derivative contracts contain credit risk-related contingent features that do not provide for specific amounts to be posted if the features are triggered. These provisions include material adverse change, performance assurance, and other clauses that generally provide counterparties with the right to request additional credit enhancements. The amounts disclosed above exclude credit risk-related contingent features that do not provide for specific amounts or exposure calculations.

Concentrations of Credit Risk Related to Derivatives

We have concentrations of credit risk with the counterparties to our derivative contracts. At September 30, 2015, total credit risk exposure to all counterparties related to derivative contracts totaled $506 million (including associated accounts receivable). The net exposure to those counterparties totaled $237 million at September 30, 2015 after taking into effect netting arrangements, setoff provisions and collateral, with the largest net exposure to a single counterparty totaling $75 million. At September 30, 2015, the credit risk exposure to the banking and financial sector represented 74% of the total credit risk exposure and 52% of the net exposure.

Exposure to banking and financial sector counterparties is considered to be within an acceptable level of risk tolerance because all of this exposure is with counterparties with investment grade credit ratings. However, this concentration increases the risk that a default by any of these counterparties would have a material effect on our financial condition, results of operations and liquidity. The transactions with these counterparties contain certain provisions that would require the counterparties to post collateral in the event of a material downgrade in their credit rating.

We maintain credit risk policies with regard to our counterparties to minimize overall credit risk. These policies authorize specific risk mitigation tools including, but not limited to, use of standardized master agreements that allow for netting of positive and negative exposures associated with a single counterparty. Credit enhancements such as parent guarantees, letters of credit, surety bonds, liens on assets and margin deposits are also utilized. Prospective material changes in the payment history or financial condition of a counterparty or downgrade of its credit quality result in the reassessment of the credit limit with that counterparty. The process can result in the subsequent reduction of the credit limit or a request for additional financial assurances. An event of default by one or more counterparties could subsequently result in termination-related settlement payments that reduce available liquidity if amounts are owed to the counterparties related to the derivative contracts or delays in receipts of expected settlements if the counterparties owe amounts to us.