PUCT Not Changing Decision on NextEra’s Oncor Purchase

PUCT Not Changing Decision on NextEra’s Oncor Purchase

May 19, 2017

by Margarita Fournier, Copyright 2016 by Competitive Assets, LLC.  All rights reserved

In spite of a comprehensive motion for rehearing filed recently by NextEra, it seems increasingly unlikely that the PUCT would approve its offer to buy Oncor. After the 5/18/17 Commission open meeting, SeekingAlpha reported that “Texas regulators remain opposed to NextEra Energy’s (NEE +0.4%) proposed $18B acquisition of Oncor, the largest network of power lines in Texas. At a session today, Public Utility Commissioners said they would wait to see more briefs before getting to a final vote on June 7 on a motion to reconsider their March vote to block the sale, but saw nothing new in NEE’s efforts to sway them. The Oncor transmissions business is the sole remaining significant asset of Energy Future Holdings, the former TXU Corp., which filed for bankruptcy in April 2014.”

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