**Exhibit      99(b)**

| **Energy                Future Holdings Corp.                Consolidated**                                                                                                                                                              |   |                                                                     |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|
| **Adjusted                EBITDA                Reconciliation**                                                                                                                                                                         |   |                                                                     |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |
|                                                                                                                                                                                                                                     |   | **Twelve                months ended September 30,                2007** |   |
|                                                                                                                                                                                                                                     |   | **(Dollars                in                millions)**                  |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |
| **Net                income**                                                                                                                                                                                                            |   | $                                                                        | 1,090  |   |
| **Provision                for income                taxes**                                                                                                                                                                             |   |                                                                     | 438    |   |
| **Interest                expense**                                                                                                                                                                                                      |   |                                                                     | 834    |   |
| **Depreciation                and                amortization**                                                                                                                                                                          |   |                                                                     | 813    |   |
| **EBITDA**                                                                                                                                                                                                                               |   | $                                                                        | 3,175  |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |   |
| **Adjustment                to                EBITDA:**                                                                                                                                                                                  |   |                                                                     |   |   |
| Oncor                EBITDA                                                                                                                                                                                                              |   |                                                                     | (1,270 | ) |
| Oncor                Dividends                                                                                                                                                                                                           |   |                                                                     | 336    |   |
| Interest                Income                                                                                                                                                                                                           |   |                                                                     | (69    | ) |
| Amortization                of nuclear                fuel                                                                                                                                                                               |   |                                                                     | 65     |   |
| Purchase                accounting                adjustments                                                                                                                                                                            |   |                                                                     | -      |   |
| Impairment                of assets and inventory                write down                                                                                                                                                              |   |                                                                     | 812    |   |
| Unrealized                net loss related to                hedging transactions                                                                                                                                                        |   |                                                                     | 645    |   |
| One-time                customer appreciation                bonus                                                                                                                                                                       |   |                                                                     | 165    |   |
| Losses                on sales of receivables                under the Accounts Receivables Securitization                Program                                                                                                        |   |                                                                     | 38     |   |
| Income                from discontinued                operations, net of tax                                                                                                                                                            |   |                                                                     | (30    | ) |
| Extraordinary                (gain) or loss, net                of tax                                                                                                                                                                   |   |                                                                     | -      |   |
| Cumulative                effect of changes in                accounting principles, net of tax                                                                                                                                          |   |                                                                     | -      |   |
| Non-cash                compensation expense (FAS                123R)                                                                                                                                                                   |   |                                                                     | 32     |   |
| Severance                expense                (a)                                                                                                                                                                                      |   |                                                                     | 1      |   |
| Equity                losses of unconsolidated                affiliate engaged in broadband over power lines                activities                                                                                                  |   |                                                                     | 5      |   |
| Loss                on early extinguishment of                debt                                                                                                                                                                       |   |                                                                     | -      |   |
| Transition                and business                optimization costs (b)                                                                                                                                                             |   |                                                                     | 15     |   |
| Shareholder                litigation                                                                                                                                                                                                    |   |                                                                     | -      |   |
| Transaction                and merger expenses                (c)                                                                                                                                                                        |   |                                                                     | 104    |   |
| Restructuring&other                (d)                                                                                                                                                                                               |   |                                                                     | (28    | ) |
| Expenses                incurred to upgrade or                expand a generation plant (e)                                                                                                                                              |   |                                                                     | 5      |   |
| **Adjusted                EBITDA per Incurrence                Covenant**                                                                                                                                                                |   | $                                                                        | 4,001  |   |
| **Add                back Oncor                Adjustments**                                                                                                                                                                             |   | $                                                                        | 957    |   |
| **Adjusted                EBITDA per Restricted                Payments Covenants**                                                                                                                                                      |   | $                                                                        | 4,958  |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |   |
| **Footnotes**                                                                                                                                                                                                                            |   |                                                                     |   |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |   |
| (a)                Severance expense includes                amounts incurred related to outsourcing, restructuring and other                amounts                deemed to be in excess of normal recurring amounts.                  |   |
| (b)                Transition and business                optimization costs include amounts related to outsourcing initiatives                and                computer system implementations.                                       |   |
| (c)                Transaction and merger                expenses include costs incurred related to abandoned strategic                transactions, new growth initiatives and merger                expenses.                          |   |
| (d)                Restructuring & other                costs relate to restructuring initiatives and other non-recurring                activities.                                                                                 |   |                                                                     |   |   |
| (e)                This amount does not include                costs incurred to purchase replacement power, which should be included                under the definition, as these costs were not historically                captured. |   |
|                                                                                                                                                                                                                                     |   |                                                                     |   |   |

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| **Texas                  Competitive Electric                  Holdings Company LLC**** Consolidated**                                                                                                                                      |   |                                                                         |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|--------|
| **Adjusted                  EBITDA                  Reconciliation**                                                                                                                                                                             |   |                                                                         |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |
|                                                                                                                                                                                                                                             |   | **Twelve                  months ended September 30,                  2007** |   |
|                                                                                                                                                                                                                                             |   | **(Dollars                  in                  millions)**                  |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |
| **Net                  income**                                                                                                                                                                                                                  |   | $                                                                            | 1,871  |   |
| **Provision                  for income                  taxes**                                                                                                                                                                                 |   |                                                                         | 896    |   |
| **Interest                  Expense**                                                                                                                                                                                                            |   |                                                                         | 378    |   |
| **Depreciation                  and                  amortization**                                                                                                                                                                              |   |                                                                         | 325    |   |
| **EBITDA**                                                                                                                                                                                                                                       |   | $                                                                            | 3,470  |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |   |
| **Adjustment                  to                  EBITDA:**                                                                                                                                                                                      |   |                                                                         |   |   |
| Interest                  Income                                                                                                                                                                                                                 |   |                                                                         | (325   | ) |
| Amortization                  of nuclear                  fuel                                                                                                                                                                                   |   |                                                                         | 65     |   |
| Purchase                  accounting                  adjustments                                                                                                                                                                                |   |                                                                         | -      |   |
| Impairment                  of assets and inventory                  write down                                                                                                                                                                  |   |                                                                         | -      |   |
| Unrealized                  net loss related to                  hedging transactions                                                                                                                                                            |   |                                                                         | 370    |   |
| One-time                  customer appreciation                  bonus                                                                                                                                                                           |   |                                                                         | 165    |   |
| Losses                  on sales of receivables                  under the Accounts Receivables Securitization                  Program                                                                                                          |   |                                                                         | 38     |   |
| Income                  from discontinued                  operations, net of tax                                                                                                                                                                |   |                                                                         | -      |   |
| Extraordinary                  (gain) or loss, net                  of tax                                                                                                                                                                       |   |                                                                         | -      |   |
| Cumulative                  effect of changes in                  accounting principles, net of tax                                                                                                                                              |   |                                                                         | -      |   |
| Non-cash                  compensation expense (FAS                  123R)                                                                                                                                                                       |   |                                                                         | 3      |   |
| Severance                  expense                  (a)                                                                                                                                                                                          |   |                                                                         | 2      |   |
| Loss                  on early extinguishment of                  debt                                                                                                                                                                           |   |                                                                         | -      |   |
| Transition                  and business                  optimization costs (b)                                                                                                                                                                 |   |                                                                         | 15     |   |
| Transaction                  and merger                  expenses  (c)                                                                                                                                                                 |   |                                                                         | -      |   |
| Restructuring&other                  (d)                                                                                                                                                                                                     |   |                                                                         | (62    | ) |
| Expenses                  incurred to upgrade or                  expand a generation plant (e)                                                                                                                                                  |   |                                                                         | 5      |   |
| **Adjusted                  EBITDA**                                                                                                                                                                                                             |   | $                                                                            | 3,746  |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |   |
| **Footnotes**                                                                                                                                                                                                                                    |   |                                                                         |   |   |
|                                                                                                                                                                                                                                             |   |                                                                         |   |   |
| (a)                  Severance expense includes                  amounts incurred related to outsourcing, restructuring and other                  amounts                  deemed to be in excess of normal recurring amounts.                  |   |
| (b)                  Transition and business                  optimization costs include amounts related to outsourcing initiatives                  and                  computer system implementations.                                       |   |
| (c)                  Transaction and merger                  expenses include costs incurred related to abandoned strategic                  transactions, new growth initiatives and merger                  expenses.                          |   |
| (d)                  Restructuring & other                  costs relate to restructuring initiatives and other non-recurring                  activities.                                                                                   |   |                                                                         |   |   |
| (e)                  This amount does not include                  costs incurred to purchase replacement power, which should be included                  under the definition, as these costs were not historically                  captured. |   |