Nextera Energy Oncor Bid

Nextera energy intends to honor all existing union contracts and commitments.

Nextera energy oncor bid.

Texas regulators on thursday rejected nextera energy s 18 billion bid to acquire oncor electric citing concerns about the independence of the utility s board and the possibility of. Upon completion of the transaction together with florida power light company fpl and nextera energy resources llc oncor will become a principal business of nextera energy. The commission should require nextera and oncor to agree to share any savings. Before nextera s bid was twice rejected regulators nixed an acquisition proposal from real estate firm hunt consolidated.

Oncor has been searching for a new owner since its parent company energy. Benefits to oncor and its customers. Florida based nextera the nation s largest provider of wind and solar power has submitted its bid to acquire oncor electric delivery the regulated transmission unit of bankrupt energy future. Nextera energy has made a new bid to acquire texas transmission and distribution utility oncor the wall street journal reports complicating the bankruptcy trial of energy future holdings efh.

Nextera is the second largest utility company in the u. Nextera energy helped prompt the auction for oncor when it staged a takeover bid earlier this year that valued the company at 17 5 billion. Nextera s bid was worth 18 7 billion but texas three member public utility commission rejected it saying nextera refused to drop its insistence on controlling oncor s board of directors.