Credit issues hit US power market

The board of Houston-based Reliant Energy has announced plans to explore the company's options for enhancing shareholder value in light of tightening credit conditions.

Reliant downgraded its financial outlook for 2008 by $300 million on September 29 blaming the financial impact of Hurricane Ike and lower commodity prices. It also announced it would put a number of initiatives into action in a bid to strengthen its financial position. This included ending its credit-enhanced retail structure with

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