Billionaire Warren Buffett’s Berkshire Hathaway Energy is getting more support in its proposed $9 billion bid to acquire Oncor Electric Delivery Company in Texas.
Support’s coming from TXU Energy, NRG Energy, the Texas Energy Association for Marketers and the Alliance for Retail Markets. Some Oncor customers have signed on to support the deal. Other stakeholder groups supporting the proposal include Cities Served by Oncor, Texas Industrial Energy Consumers, Office of Public Utility Counsel and Public Utility Commission Staff.
“Today’s announcement illustrates the growing support for Berkshire Hathaway Energy’s proposed acquisition of Oncor,” said Greg Abel, Berkshire Hathaway Energy chairman, president and CEO. “Ours is a different kind of proposal. It’s one that hasn’t been seen before, and we want Texans to know that we will be a stable, long-term partner.”
TXU Energy and NRG Energy represent two of the largest retail electric providers in Texas, with TEAM and ARM representing dozens of Texas electric market participants.
“We will continue working with the state of Texas and other interested parties to provide long-term value for Texans. Once all necessary approvals are received, we look forward to Oncor joining the Berkshire Hathaway Energy family of companies,” said Abel.