Texas Regulators Ask Hard Questions in Sempra's $9.45 Billion Deal for Oncor

The $9.45 billion offer to buy Oncor, Texas' largest regulated utility, appears to have the clearest path to success after three and a half years of stalled and failed efforts.Still, with a state regulator raising some questions and concerns, this isn't a done deal for San Diego-based Sempra Energy. Ken Anderson, a member of the Texas Public Utility Commission, filed a memo this week listing issues that need to be addressed, including debt, credit ratings and unanswered questions about how the deal would be financed. The sale of Oncor -- fallout from the bankruptcy of its parent company -- can't be completed until the PUC determines that the purchase is in the public's interest. Oncor delivers electricity to 3.4 million households and businesses, mostly in North Texas.  Continue reading...