NextEra Asks Texas Regulators to Reconsider Rejection of $18 billion Deal

The Texas Public Utility Commission is being asked by NextEra Energy to reconsider its rejection of the company’s nearly $18 billion deal to buy bankrupt Energy Future Holding Corp, majority owner of Oncor, the state’s largest power network.

NextEra, a company fighting lawsuits against its windfarm developments in western Oklahoma made the request in a public filing this week. A spokesman for the regulators said the commission has until June 7 to respond and was reviewing NextEra’s request.

NextEra, based in Florida, maintains the Public Utility Commission went beyond the scope of its powers in voting against the proposal to buy Energy Future. The Commission called the deal not in the public interest and too risky for ratepayers.

The company claims however, the deal would help the financial health of Oncor.

 

 

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