Thousands Near Greenville and in West Texas Are About Get Much Cheaper Electric Bills

Some 54,000 Texans can expect significantly lower electric rates thanks to a $400 million-deal struck between Texas' largest regulated utility, Oncor and West Texas utility Sharyland, a Hunt family business. The transaction announced today is still subject to Public Utility Commission approval but is expected to pass. The agreement gives Sharyland $380 million worth of transmission lines in west Central Texas and $20 million. In exchange, Oncor gets 54,000 Sharyland customers, which is estimated to be worth $400 million.Sharyland will continue operating large transmission lines that send electricity across long stretches of Texas. But the Hunt company -- which has the state's highest prices -- will no longer own distribution lines that connect the transmission lines to the customers.  Continue reading...

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