The Public Utility Commission of Texas (PUCT) recently approved the acquisition of InfraREIT, Inc. by Oncor Electric Delivery Company LLC (Oncor) and Sempra Energy’s acquisition of a 50 percent limited-partnership interest in a holding company that will own Sharyland Utilities, LP (Sharyland).
The PUCT approval was the final regulatory approval required to complete the transactions.
“Texas is a great place to do business, and we are pleased that the Public Utility Commission approved another opportunity for Sempra Energy to invest in Oncor, and the state,” Jeffrey W. Martin, chairman and CEO of Sempra Energy, said. “We look forward to continuing to advance our growth strategy in Texas and the U.S. Gulf Coast region.”
As part of the transaction, a subsidiary of InfraREIT will exchange certain assets with Sharyland. After Oncor’s acquisition of InfraREIT, Oncor will own all of InfraREIT’s and Sharyland’s electric transmission and distribution business in Central, North and West Texas, and Sharyland will own Sharyland and InfraREIT assets in South Texas.
“Today is an exciting day for Oncor,” Oncor CEO Allen Nye said. “When our acquisition of InfraREIT is complete, we will expand our transmission footprint and be better positioned to support the long-term needs of the ERCOT market. We want to thank the Commissioners, Commission staff, and all the stakeholders involved in this process for their hard work. We look forward to closing this transaction.”
If all remaining closing conditions are satisfied, the transaction is expected to close by the end of the month.
Innovative legislation will help Duke Energy Progress customers in South Carolina save $35 million in repair costs from a series…
Looking to recover costs associated with increased fuel and vegetation management expenditures, Appalachian Power and Wheeling Power recently submitted new…
As a way to aid the deployment of electric vehicle charging stations, Hawaiian Electric this week released the online Electric…
American Electric Power (AEP) released its 2024 Corporate Sustainability Report, which documents its sustainable business practices, strategy, performance and impact.…
Louisville Gas and Electric Company (LG&E) and Kentucky Utilities (KU) issued a Request for Proposals (RFP) for new solar, wind,…
Wyoming gained its first solar facility this week, and Southern Power its 30th, with the beginning of operations at the…
This website uses cookies.