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
- Inside Sempra’s 72-mile pipeline with 18 major trenchless crossings
- Trump vetoes bill to finish $1.3 billion Colorado water pipeline
- PHMSA warns of heat risks in aging plastic gas distribution pipelines following deadly Pennsylvania explosion
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- OSHA seeks $1.2 million fine after fatal trench collapse in Connecticut
- Worm-like robot burrows underground to cut power line installation costs
- First tunnel boring machines complete testing for Hudson Tunnel Project
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- Construction jobs stumble into 2026 after weak year
- NWPX grows water infrastructure portfolio with Colorado precast facility
Comments