Texas PUC's Anderson Requests Oncor CEO Appear At Open Meeting To Discuss Structure, Timing of Proposed Change-in-Control, Current Financial Condition

Texas PUC Commissioner Kenneth Anderson sent a letter to Oncor CEO Robert Shapard inviting Shapard, as well as Oncor's Chairman of the Board, Jim Adams, or another board member, to attend the PUC's August 31 open meeting to discuss various issues related to Oncor's proposed change-in-control and current financial conditions

"Among the topics for discussion are likely to be (1) Oncor's views as to the likely structure and timing of the proposed Sempra transactions, including the timing of any change of control application; and (2) Oncor's current financial condition and liquidity as it relates to the Commission's legal obligation to protect Oncor's financial integrity so that the company can continue to deliver safe, reliable and affordable power at just and reasonable rates, which currently are among the lowest in the State," Anderson wrote

"Related to both of those topics are likely to be questions around how much Oncor has accrued in expenses over the last two years on matters related to EFH's bankruptcy, including the professional fees and other costs incurred in the prior two change of control proceedings before the Commission and who should pay these expenses going forward," Anderson wrote