Delaware bankruptcy judge. One alleged
reason it fell through, say some news
accounts, is that Texas regulators may
have required the buyer to share tax savings with customers.
Hunt said that and other regulatory
caveats might scare off investors. Hunt
later indicated renewed interest in an
Oncor deal but NextEra stepped in with
its 11-digit financial offer.
NextEra also had a deal to buy
Hawaiian Electric Industries that was
announced in 2014, but that deal fell
apart in 2016 when Hawaiian regulators
voted not to approve the merger.
Oncor is privately held by a limited
number of investors including EFH.
Oncor serves about 10 million customers in northern Texas, including
Dallas, Fort Worth, Odessa and Waco.
The Public Utility Commission of Texas
once again rejected Florida-based NextEra
Energy’s proposed $18 billion deal to purchase Oncor Electric Delivery, an electricity
delivery business and the Lone Star State’s
biggest power transmission company.
the takeover down
for the first time,
saying the merg-
er was not in the best interest of ratepay-
ers. The board of three regulators also took
issue with handing over the Texas-based
company, which is a unit of Energy
Futures Holdings (EFH), to an indepen-
dent board based in Florida.
NextEra made its move for Oncor,
which is part of the massive EFH bankruptcy, in July 2016. NextEra announced
the Oncor bid shortly after its long-de-layed combination with Hawaiian Electric
Co. was terminated due to lack of support
from regulators in that state.
The Federal Energy Regulatory
Commission approved the NextEra takeover in January 2017.
In 2015, Hunt Consolidated and partners
offered to buy Oncor as part of EFH’s Chapter
11 bankruptcy proceeding in an estimated $20 billion deal. However, Hunt later
informed the Texas Public Utility Commission
that it was backing out of the plan.
The Hunt plan had approval from a
TEXAS REGULATORS SAY NO A SECOND TIME TO NEXTERA-ONCOR MERGER
The Virginia State Corporation
Commission (SCC) authorized Dominion
Energy Virginia to build and operate electric transmission facilities in Charles City
and Prince George counties in Virginia.
As noted in the SCC’s June final order, the
company proposes to rebuild, within the
existing right of way, a nearly 0.99-mile portion of its existing 500-kV Chickahominy-Surry Line No. 567, where the transmission
line crosses the James River between Charles
City County and Prince George County.
The portion of Line No. 567 that the
company proposes to rebuild includes a
nearly 0.79-mile river crossing, with the
remaining 0.2 mile of the rebuild project
on the riverbanks, the SCC said.
The state Department of Environmental
Quality (DEQ) in February filed a report with
VIRGINIA REGULATORS APPROVE 500-KV DOMINION LINE OVER JAMES RIVER
BY CORINA RIVERA-LINARES, CHIEF ANALYST, TRANSMISSIONHUB
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