Texas electric regulators nix proposed $18B sale of Oncor
April 14, 2017
AUSTIN, Texas (AP) — Texas regulators have rejected the proposed more than $18 billion sale of Dallas-based Oncor (ON'-kor) 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 bankrupt...