Texas regulators on verge of approving Sempra's $9.45 billion purchase of Oncor
The four-year search to find a new owner for Oncor — Texas' largest regulated utility — appears to be nearly over.
Texas Public Utility Commissioners asked staff members Thursday to prepare an order approving the $9.45 billion sale in time for the agency's March 8 meeting. Besides that vote on San Diego-based Sempra Energy's offer, a second approval will be needed from the Delaware court handling the bankruptcy of Oncor's parent company, Energy Future Holdings.
It appears that commissioners have "blessed" the deal, said Geoffrey Gay, attorney for the steering committee of cities served by Oncor. "The commissioners have the authority to challenge anything or ask questions, but they seem to be content that the parties have addressed every major issue," he said.
At Thursday's meeting, commissioners spent just a few minutes on the sale of Oncor, which previously has generated hours of debates and public discussions.
Read more: https://www.dallasnews.com/business/oncor/2018/02/15/texas-regulators-verge-approving-sempras-945-billion-purchase-oncor