Nextera Energy Oncor Bid

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

Nextera energy oncor bid.

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 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. 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.

Before nextera s bid was twice rejected regulators nixed an acquisition proposal from real estate firm hunt consolidated. Power generator nextera energy has renewed its interest in buying oncor electric delivery as a rival takeover deal led by hunt consolidated of dallas shows signs of unraveling according to two. Oncor has been searching for a new owner since its parent company energy. 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.

The deal was opposed by texas industrial energy consumers which made the same demands as during the earlier hunt bid. The deal could value oncor at 17 to 18 billion and sources close to the deal say nextera s proposal is higher than the failed hunt bid according to bloomberg. 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.