Texas Commercial Energy (the "Company" or "TCE") filed for bankruptcy
protection on March 6, 2003 in the Southern District of Texas following a sudden and
dramatic rise in the price of wholesale electricity. TCE is a Retail Electric Provider
("REP") serving commercial and light industrial customers in the region of Texas
administered by the Electric Reliability Council of Texas ("ERCOT"). TCE acquires
electricity on the wholesale market and then resells it on a retail basis to its customers.
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