All the Important Texas Electric Industry News in One Place, Fast; A Competitive Assets Website
PUCT Rejects $18B NextEra-Oncor Deal
PUCT Rejects $18B NextEra-Oncor Deal
Apr 14, 2017
by Margarita Fournier; Copyright 2016 by Competitive Assets, LLC. All rights reserved
As we reported yesterday, and according to a UtilityDIVE report, “Texas regulators on Thursday rejected NextEra Energy’s $18 billion bid to acquire Oncor Electric, citing concerns about the independence of the utility’s board and the possibility of increased risk for ratepayers. At a meeting of the Public Utilities (sic) Commission of Texas, regulators adopted a draft order rejecting the deal, making only minor changes. NextEra’s bid for Oncor is the second failed attempt to purchase the utility out of the bankruptcy proceeding of its parent, Energy Future Holdings (EFH). Regulators rejected an acquisition proposal from real estate firm Hunt Consolidated last year, opening the door for NextEra.” There was virtually no debate at the open meeting, likely signifying that NextEra was not interested in negotiating some sort of a deal. More also at PUC rejects sale of Oncor Electric to NextEra Energy.
Competitive Assets
provides information and consulting for the Texas electric utility industry and is the information source relied upon by many retail electric providers, cooperatives, municipalities, generators, power marketers, brokers, aggregators, wires companies, PUCT staff, ERCOT staff, Texas legislators and staff, FERC staff, metering companies, members of the financial community, consumer representatives, and other parties interested in the Texas electric industry..
