Ovation Acquisition I, L.L.C., Ovation Acquisition II, L.L.C., and Shary Holdings filed an application with the Public Utility Commission of Texas for approval of Oncor AssetCo, L.L.C.'s initial leases and rates

Under the approved acquisition of Oncor by various Hunt Consolidated companies, Oncor AssetCo will own the Oncor transmission and distribution assets and lease such assets to Oncor Electric Delivery Company, LLC (OEDC) in return for rental payments

The Leases and Rent Supplements for which approval was sought, "will in no way affect the rates that retail and wholesale customers will pay to OEDC," the purchasers said

"The revenues collected from ratepayers will not change or otherwise be impacted until after the next base rate case that will be filed by July 1, 2017 or sooner pursuant to the Docket No. 45188 [change-in-control] Order," the purchasers said.

"[T]he rates that Oncor AssetCo will charge OEDC pursuant to the Leases will not affect any of Oncor's ratepayers but will simply allocate the return on investment between the two entities based on Oncor's currently approved rates," the purchasers said.

The purchasers also said that they are planning to file a motion for rehearing with respect to the Commission's requirement in the Docket No. 45188 change-in-control Order that Oncor AssetCo and OEDC establish a regulatory liability for federal-income-tax-expense revenue lawfully collected through rates, "on the ground that recovery of such expense constitutes impermissible retroactive ratemaking."

See details regarding the lease in Docket 45815