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Berkshire Hathaway Energy Gets Support from New Texas Stakeholder Groups for Oncor Acquisition

Berkshire Hathaway's ( BRK.A ) energy division said late Monday that its acquisition of Oncor Electric Delivery Company has garnered the support of a new group of stakeholders in Texas.

The company said TXU Energy, NRG Energy, the Texas Energy Association of Marketers ( TEAM ) and the Alliance for Retail Markets (ARM) have signed a list of regulatory commitments proposed by Berkshire and agreed to support approval of the proposed transaction.

"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," Berkshire said "ARM participating members include Champion Energy Services, LLC; Direct Energy, L.P.; NRG Retail Companies; and TXU Energy Retail Company LLC."

"Having the support of these entities further distinguishes this transaction from those that have been previously proposed and demonstrates a growing momentum that provides the largest infrastructure company in Texas with the backing and financial resources of Berkshire Hathaway Inc.," the company said.

This brings the total number of Texas stakeholder groups that support the transaction to eight, including Cities Served by Oncor, Texas Industrial Energy Consumers, Office of Public Utility Counsel, and Public Utility Commission Staff.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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