Sempra Energy, Oncor announce settlement with key stakeholders
Oncor Electric Delivery Company and Sempra Energy announced a settlement agreement with several key stakeholders for Sempra Energy's pending acquisition of Energy Future Holdings Corp., including EFH's indirect, approximate 80% ownership of Oncor. The parties to the settlement agreement include Staff of the Public Utility Commission of Texas, the Office of Public Utility Counsel, Steering Committee of Cities Served by Oncor, and Texas Industrial Energy Consumers. This settlement agreement is a significant step forward, demonstrating positive momentum for Sempra Energy's proposed acquisition of a majority stake in Oncor, both companies said. With this settlement, the parties have agreed that the acquisition is in the public interest, meets Texas statutory standards, and will bring substantial benefits. The parties to the agreement will ask the PUCT to approve the acquisition, consistent with the governance, regulatory and operating commitments in the settlement agreement.