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EFH indirectly owns about 80.03 percent of Oncor
The revised bid avoids saddling any debt on Energy Future Holdings. Instead, Sempra plans to fund approximately 65 percent of the $9.45 billion with its own equity and the remainder with Sempra debt.
This approval is a step in Sempra Energy's proposal to buy Energy Future's 80-percent ownership interest in Oncor Electric Delivery Co.
'We are disappointed our agreement to acquire Oncor has been terminated'
Fifteen of the 20 CEOs running the biggest IOUs got substantial pay increases in 2016, according to an analysis of federal filings by POWERGRID International and Electric Light & Power Executive Digest. Some got nearly 100 percent hikes in total compensation, while only a few came out even or less paid than in 2015.
Gallagher is senior vice president in the Sempra Infrastructure Group, overseeing information technology, procurement and natural gas operations. Most recently, he was senior vice president and president of natural gas at Sempra U.S. Gas & Power, leading the company's commercial development, origination, operations and project development, and was also CEO of Mobile Gas Service Company.
Utilities have been required to invest heavily in their operations at a time when electricity sales are generally flat or in decline