NextEra Energy on July 29 said it has agreed to purchase an 80% interest in Dallas-based Oncor Electric Delivery, the largest transmission operator in Texas, for $18.4 billion. While the deal still could be topped by rival bidders and must be approved by regulators, it would allow the regulated utility's parent to emerge from bankruptcy and boost investment potential for facilities.
“NextEra Energy shares Oncor’s strategy of making smart, long-term investments in transmission and distribution to continue to deliver affordable, reliable electric service to its customers,” said Jim Robo, NextEra’s chairman and CEO.