Reuters logo
BRIEF-Oncor and Sempra Energy to file for Texas regulatory approval
October 4, 2017 / 8:39 PM / 2 months ago

BRIEF-Oncor and Sempra Energy to file for Texas regulatory approval

Oct 4 (Reuters) - Sempra Energy

* Oncor and Sempra Energy to file for Texas regulatory approval

* Co, Oncor Electric Delivery expect to jointly file a change-in-control application tomorrow with public utility commission of Texas​

* Sempra Energy expects to ultimately fund approximately 65 percent of $9.45 billion purchase price with Sempra Energy equity​

* Expects to ultimately fund approximately 35 percent of Oncor deal price with Sempra Energy debt​

* Says acquisition of EFH under new financing structure to result in average annualized accretion in EPS of about 10-20 cents over next four years​

* Maintaining Oncor’s current management team, workforce and Dallas-based headquarters​

* Co’s original proposal was to initially acquire 60 percent of EFH, with goal of acquiring 100 percent over a period of time​

* New financing approach for Oncor deal will eliminate Energy Future Holdings’ debt, as well as third-party equity​

* New financing structure, several of key stakeholders have expressed interest in entering into constructive regulatory settlement discussions​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below