Texas PUC Issues Rehearing Order Denying NextEra Acquisition of Oncor
June 08,2017
The Texas PUC yesterday issued an order on rehearing denying the NextEra Energy, Inc.'s proposed acquisition of Oncor (Docket 46238)
Although the order on rehearing includes revised and additional language, the rehearing order generally denies the proposed acquisition for the same reasons an initial order denied the transaction. At a high level, such concerns included the lack of what the PUC considers a truly independent Oncor board under the transaction, and concerns about the "substantial" amount of leverage to be incurred by NextEra as a result of the transaction.
