Oncor Electric Delivery Company works with private and public utilities throughout the country through organizations called Mutual Assistance Groups. The Competitive Renewable Energy Zone (CREZ) project was intended to improve the transmission of wind power to Oncor's grid. Major projects Īs of 2014, Oncor Electric Delivery Company was working in partnership with Siemens AG Power Technologies to build a smart grid in an exploration of the use of storage batteries and micro-grids. On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion. The Sempra bid subsequently received court approval on September 6, 2017. ![]() ![]() The acceptance of the Sempra bid effectively terminated the Berkshire bid. This bid was ultimately surpassed by Sempra Energy, which bid $9.45 billion in cash and the assumption of debt on August 21, 2017. On July 7, 2017, it was announced that Berkshire Hathaway had agreed a deal to buy the whole of Energy Future Holdings and ultimately Oncor. The subsequent proceeding's focus was to determine how the potential tax savings attributable to the REIT format would be shared with utility ratepayers. On March 24, 2016, the Public Utility Commission (PUC) granted the request to convert Oncor into a real estate investment trust (REIT) with the reservation that the PUC would consider the treatment of potential tax savings, which could account to $250 million, from the REIT structure in a separate proceeding to be held at a future date. While a majority owner, EFH was not involved in the management of Oncor. Oncor is separate from its owners and separately managed by a majority independent board of directors. Oncor is privately held by a limited number of investors including Energy Future Holdings Corporation ("EFH"). Oncor began replacing analog meters in 2008 with digital meters throughout its system, although some older analog meters still remain. ![]() Predecessor companies include Dallas Power & Light (DP&L), which served the city of Dallas Electric Service Company (TESCO), which served areas surrounding Fort Worth and Texas Power and Light (TP&L), which served other areas of northwest and east-central Texas. It was formerly known as TXU Electric Delivery and TU Electric. Please help update this article to reflect recent events or newly available information.
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