energy future holindings TXU2004AR

This annual report provides an overview of TXU Corp. for 2004. It discusses the company's restructuring program that sold underperforming assets and refocused on three core businesses: TXU Energy, TXU Power, and TXU Electric Delivery. The restructuring improved financial results for 2004, generating $10 billion in market value. The report discusses goals to further transform TXU into a high-performance company through operational excellence, market leadership, and human performance leadership across the three core businesses. The restructuring program achieved good initial results in 2004 but further work is needed to drive performance improvements over the long term.