PUCT approves AEP Texas, Oncor transaction

The Public Utility Commission of Texas (PUCT) has approved an agreement enabling AEP Texas to purchase Oncor Electric Delivery’s distribution assets in the Rio Grande Valley.

The acquisition focuses on the southernmost part of Oncor’s service territory. The proposed transaction between AEP Texas and Oncor closed on Nov. 21, 2019, and the transition of Oncor’s customers to AEP Texas is slated to begin on Dec. 3, 2019.

The Sale, Transfer or Merger joint application requested the sale and purchase of distribution assets from Oncor to AEP Texas in and around the cities of McAllen and Mission in Hidalgo County, including the Sharyland Plantation community.

“Acquisition of these customers illustrates the commitment by AEP Texas to continue growing with the Rio Grande Valley and being responsive as new opportunities unfold,” Thomas Coad, AEP Texas vice president of Distribution Region Operations, said. “AEP Texas currently serves over 320,000 customers in the Rio Grande Valley. We serve, operate, and maintain distribution facilities adjacent and almost completely surrounding the Sharyland community. Simply put, this is a good fit for everyone involved.”

Oncor Vice President of Distribution Operations Keith Hull said the location of the customers and assets make AEP Texas the logical electric provider for Hidalgo County.

“AEP Texas is a terrific partner for the community, with a strong track record of safety and reliable service and a long history of providing service in the Rio Grande Valley,” Hull said.