SAN DIEGO and DALLAS, Dec. 12, 2017 - Sempra Energy (NYSE: SRE) and Oncor Electric Delivery Company LLC (Oncor) today announced that the Federal Energy Regulatory Commission (FERC) issued an order authorizing, subject to customary conditions, Sempra Energy's acquisition of Energy Future Holdings Corp. (EFH), the indirect owner of approximately 80 percent of Oncor.
On Aug. 21, Sempra Energy entered into an agreement to acquire EFH. In September, the U.S. Bankruptcy Court for the District of Delaware approved EFH's entry into the merger agreement with Sempra Energy and, on Oct. 5, Sempra Energy and Oncor filed a joint Change-in-Control application with the Public Utility Commission of Texas (PUCT). On Oct. 16, the PUCT set a procedural schedule to complete a review of Sempra Energy's and Oncor's case within 180 days, by early April 2018.
The EFH transaction closing remains subject to further approvals by the U.S. Bankruptcy Court and the PUCT, among other approvals and closing conditions. For more information about the transaction, visit oncor-sempra.com.
Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider, made up of approximately 122,500 miles of lines and more than 3.4 million advanced meters, making it the largest utility in Texas. Using cutting-edge technology, more than 3,900 employees work to safely maintain reliable electric delivery service to over 10 million Texans.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide.