NextEra Wants Regulators to Reconsider Its Offer to Buy Oncor; Calls Rejection “capricious”

The Florida energy giant trying to buy Oncor -- the state's largest regulated utility -- said Monday that Texas regulators violated a state law in rejecting the deal as not in the public's interest.NextEra filed a motion for rehearing, claiming that the Texas Public Utility Commission made serious errors, including exercising authority not granted by the legislature, relying on facts "not in evidence," and violating the company's due process and equal protection rights. The motion also challenged the PUC's authority to block the deal.The PUC unanimously rejected the $18.7 billion offer for Oncor last month. Last year, PUC approved a deal led by Dallas' famed Hunt family but it eventually fell through.  Continue reading...

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