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Additional rating concerns include: the risk of retail electric provider (REP) business customer loss or margin reduction; construction risk related to three new lignite plants now under construction; commodity price fluctuations to the extent the expected energy output is not hedged, and risks associated with any adverse changes in the Texas retail or wholesale electric market structure or environmental regulation. Other subsidiaries include First Choice Power, a deregulated competitive retail electric provider in Texas, and Avistar, an unregulated energy technology company. Other subsidiaries include First Choice Power, a deregulated competitive retail electric provider in Texas, and Avistar, an unregulated energy technology company. |
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