The US energy utility Sempra Energy has secured approval from the Public Utility Commission of Texas (PUCT) regarding the purchase of Energy Future Holding (EFH) and its 80% stake in Oncor, the operator of the largest electric transmission and distribution system in Texas (United States) with 10 million customers in the state. The US Bankruptcy Court of Delaware and the Federal Energy Regulatory Commission (FERC) already approved the acquisition in August and December 2017, respectively.
The enterprise value of the transaction is approximately US$18.8bn, including the assumption of Oncor's debt and US$9.45bn in cash. In addition, Sempra Energy has committed to support Oncor's plan to invest US$7.5bn of capital over a five-year period to expand and reinforce its transmission and distribution network.
Oncor is the operator of the largest electric transmission and distribution system provider in Texas (United States) with 10 million customers, 122,500 miles (197,145 km) of lines and more than 3.4 million advanced meters in the state. Sempra Energy has committed to support Oncor's plan to invest US$7.5bn of capital over a five-year period after the acquisition to expand and reinforce its transmission and distribution network.