LONDON, UK / ACCESSWIRE / December 29, 2017 / Active-Investors.com has just released a free research report on Oncor-Sempra Energy (NYSE: SRE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SRE as the Company's latest news hit the wire. On December 27, 2017, Sempra Energy (''Sempra''), a leading energy services holding Company, and Oncor Electric Delivery Co., LLC (''Oncor''), a regulated electric transmission and distribution service provider, declared that the Alliance for Retail Markets (''ARM'') and the Texas Energy Association for Marketers (''TEAM'') have joined the settlement agreement for Sempra's pending acquisition of Energy Future Holdings Corp. (''EFH''), including EFH's indirect, approximate 80% ownership of Oncor. Register today and get access to over 1000 Free Research Reports by joining our site below: www.active-investors.com/registration-sg
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Oncor-Sempra Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below: www.active-investors.com/registration-sg/?symbol=SRE
About the Settlement Agreement
Oncor and Sempra announced a settlement agreement for the acquisition of EFH with the Staff of the Public Utility Commission of Texas (''PUCT''), the Office of Public Utility Counsel, the Steering Committee of Cities Served by Oncor, and the Texas Industrial Energy Consumers on December 14, 2017.
The settlement includes a list of provisions for the retail market that have been agreed upon by the settling parties as conditions for the PUCT's approval of the acquisition. It comprises regulatory commitments that preserve the existing Oncor ring-fence and the independence of Oncor's Board of Directors. Moreover, to protect Oncor, its customers, and its employees, the settlement also covers conditions for repaying all the debt of EFH and Energy Future Intermediate Holding Co. LLC.
Approval Timeline for Sempra's EFH Acquisition
- Sempra had entered into an agreement to acquire EFH on August 21, 2017.
- The US Bankruptcy Court for the District of Delaware approved EFH's entry into the merger agreement with Sempra in September 2017.
- Post which, Sempra and Oncor filed a joint Change-in-Control application with the PUCT in October 2017.
- In response, on October 16, 2017, PUCT set out a procedural schedule to complete the review of the joint application by early April 2018, with the proposed hearing date in February 2018.
- Later, the Federal Energy Regulatory Commission also issued an order authorizing Sempra's acquisition of EFH on December 12, 2017, subject to customary conditions.
- At present, the EFH transaction closing is subject to further approvals by the US Bankruptcy Court and the PUCT, among other approvals and closing conditions.
One Step Closer to Acquisition
- Additional stakeholder support for the settlement agreement shows positive momentum for Sempra's proposed acquisition of EFH. All the six parties of the settlement agreement agree that the acquisition is in the best interest of the public, meets Texas statutory standards, and will bring substantial benefits.
- As part of the agreement, the parties will request the PUCT to approve the acquisition in-line with the governance, regulatory, and operating commitments in the settlement agreement.
- Alongside, Sempra and Oncor will continue settlement discussions with additional stakeholders.
Stock Performance Snapshot
December 28, 2017 - At Thursday's closing bell, Oncor-Sempra Energy's stock marginally fell 0.70%, ending the trading session at $107.08.
Volume traded for the day: 1.27 million shares.
Stock performance in the last twelve-month period - up 7.17%; and year-to-date - up 6.40%
After yesterday's close, Oncor-Sempra Energy's market cap was at $26.95 billion.
Price to Earnings (P/E) ratio was at 23.74.
The stock has a dividend yield of 3.07%.
The stock is part of the Utilities sector, categorized under the Diversified Utilities industry. This sector was up 0.4% at the end of the session.
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