December 29, 2017 - 7:00 AM EST
Print Email Article Font Down Font Up Charts

Blog Exposure - Alliance for Retail Markets and Texas Energy Association for Marketers Join the Oncor-Sempra Energy Settlement Agreement

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.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the ''Author'') and is fact checked and reviewed by a third-party research service company (the ''Reviewer'') represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the ''Sponsor''), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors


Source: ACCESSWIRE Investor Awareness (December 29, 2017 - 7:00 AM EST)

News by QuoteMedia
www.quotemedia.com

Legal Notice