Texas Electric Regulators Nix $18B Oncor Sale
AUSTIN, Texas (AP) — Texas regulators have rejected the proposed more than $18 billion sale of Dallas-based Oncor Electric Delivery Co. to NextEra Energy Inc.
The three-member Public Utility Commission of Texas on Thursday unanimously declined to accept the agreement as being in the public interest — a requirement for the deal. Financial concerns were raised.
Oncor is an electric transmission and distribution provider serving 10 million customers across Texas. It’s the state’s largest regulated utility.
The parent of Oncor, Energy Future Holdings, filed for Chapter 11 bankruptcy protection in 2014. Oncor was not part of the bankruptcy reorganization.
NextEra Energy is based in Juno Beach, Florida, and is the parent of Florida Power & Light Co.
A 2016 effort to acquire Oncor, backed by the Ray Hunt family of Dallas, also faltered.
Related News
From Archive
- TxDOT advances massive drainage tunnel beneath I-35 in Austin
- Glenfarne Alaska LNG targets late-2026 construction start for 807-mile pipeline project
- U.S. water reuse boom to fuel $47 billion in infrastructure spending through 2035
- $2.3 billion approved to construct 236-mile Texas-to-Gulf gas pipeline
- Major water pipe break in Puerto Rico hits over 165,000 customers
- Pennsylvania American Water launches interactive map to identify, replace lead water service lines
- Trump's tariffs drive $33 million cost increase for Cincinnati sewer project
- Utah city launches historic $70 million tunnel project using box jacking under active rail line
- Tulsa residents warned after sewer lines damaged by boring work
- Fatal trench collapse halts sewer construction in Massachusetts; two workers hospitalized
Comments