US utilities giant TXU has announced that it is cutting off its UK and European units' cash supply, leaving UK employees facing layoffs. With the energy market in crisis following the Enron scandal, Dallas based TxU has put its European subsidiaries up for sale. TXU bought the UK subsidiary in 1998 following deregulation of the UK Energy market. Analysts believe that the government may have to step in and bail the subsidiary out as they have with British Energy, which is being kept afloat by government loans.
See "US firm pulls plug in power crisis", BBC News Online, October 13, 2002