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Hunt Companies Commit To Filing Proposal To Merge Sharyland, Oncor; Address "Rate Disparities"
As part of revised regulatory commitments associated with their proposed acquisition of Oncor, various Hunt Consolidated companies and related entities have made a firm commitment to prepare a proposal for a possible business combination between Oncor Electric Delivery Company and Sharyland Utilities, LP
A prior regulatory commitment (see prior story) would have only committed the Hunt companies to file a "recommendation" regarding such a business combination, but would not have required the presumably more robust creation of a proposal
While the revised commitment requires the companies to prepare a proposal for a possible business combination of Sharyland and Oncor, to be submitted to the PUCT by June 1, 2016, the commitment does not explicitly require that the companies support any such combination, nor that the companies actually seek approval for such a combination (based solely on the wording of the revised commitment, the requirement for a submittal of the proposal to the PUCT is vague and could potentially take the form of a report, rather than a formal application)
The proposal for any such Oncor and Sharyland business combination shall specifically include, "addressing rate disparities between the two companies."
The updated commitments also generally deal with certain corporate structure, debt, and finance issues.
See the updated commitments here
Docket 45188
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January 22, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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