Energy Future Holdings creditors are working on a bankruptcy plan giving secured lenders a bigger ownership stake than management previously offered, cutting the payout for private-equity owners including KKR and TPG Capital.Bank lenders to the Dallas-based power company’s most-indebted unit, Texas Competitive Electric Holdings Co., would receive 91 percent of the equity in the new company, up from the 85 percent offer that EFH disclosed April 15, according to three people with knowledge of the negotiations. The remaining 9 percent will be split among KKR, TPG, Goldman Sachs Capital Partners and unsecured bondholders, the people said. They asked not to be identified, citing lack of authorization to speak publicly about the discussions.Holders of Texas Competitive’s loans and bondholders of the Energy Future Intermediate Holding Co. unit, the indirect parent of the regulated utility Oncor Electric Delivery Co., are developing the new proposal.Adam McGill, a spokesman at Energy Future, declined to comment.Energy Future Holdings Corp., formerly known as TXU Corp., was taken private in a record $45 billion leveraged buyout in 2007. Now, burdened with $43.6 billion of debt amid low Texas power prices, it has to make a $270 million repayment Nov. 1.If the creditor groups can agree on the proposal, they would probably present the plan to EFH and its owners, one of the people said. The secured creditors are expected to meet at the end of this week with advisers for the unsecured bondholders at Energy Future Intermediate.Moody’s Investors Service said Sept. 9 that holders of the senior secured first-lien notes from Energy Future Intermediate and Texas Competitive Electric Holdings may recover 68 percent and 63 percent, respectively. Moody’s said senior unsecured lenders at Texas Competitive and the parent “would be pretty much wiped out,” recovering as little as 4 percent in a bankruptcy.KKR, TPG and Goldman Sachs put $8.3 billion into the TXU buyout, they disclosed in 2008. By March 2012, KKR had written down its equity in the company to 5 cents on the dollar, according to a regulatory filing.