The Federal Energy Regulatory Commission (FERC) issued an order authorizing, subject to customary conditions, Sempra Energy’s acquisition of Energy Future Holdings Corp. (EFH), the indirect owner of about 80 percent of Oncor.
On Aug. 21, Sempra Energy entered into an agreement to acquire EFH. In September, the U.S. Bankruptcy Court for the District of Delaware approved EFH’s entry into the merger agreement with Sempra Energy and, on Oct. 5, Sempra Energy and Oncor filed a joint Change-in-Control application with the Public Utility Commission of Texas (PUCT).
On Oct. 16, the PUCT set a procedural schedule to complete a review of Sempra Energy’s and Oncor’s case within 180 days, by early April 2018.
The EFH transaction closing remains subject to further approvals by the U.S. Bankruptcy Court and the PUCT, among other approvals and closing conditions.
Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider, made up of nearly 122,500 miles of lines and more than 3.4 million advanced meters, making it the largest utility in Texas.