Stakeholders Continue to Line Up for Berkshire’s Oncor Bid

(BRK.A), (BRK.B)

Berkshire Hathaway continues to line up supporters for its Oncor Electric Delivery Company bid, including from a host of key stakeholders.

The International Brotherhood of Electrical Workers Local 69 and Targa Pipeline Mid-Continent WestTex LLC/Targa Midstream Services LLC are the latest stakeholders to have expressed support for Berkshire’s proposed acquisition of Oncor.

“Support from the IBEW and Targa along with the endorsements we’ve received from other Texas business, community and consumer groups reinforces that our proposal is good for both Oncor’s customers and for Texas,” said Greg Abel, Berkshire Hathaway Energy chairman, president and CEO. “We appreciate the continued and growing support as we work through the transaction process; collectively, these efforts help move the proposal forward to benefit Oncor’s customers, creditors and key stakeholders.”

The announcement brings the total number of influential Texas stakeholder groups that support Berkshire Hathaway Energy’s proposed acquisition of Oncor to 10, including: Public Utility Commission Staff; Cities Served by Oncor; Texas Industrial Energy Consumers; Office of Public Utility Counsel; TXU Energy; NRG Energy; the Texas Energy Association for Marketers (TEAM); the Alliance for Retail Markets (ARM); IBEW Local 69; and Targa Pipeline Mid-Continent WestTex LLC/Targa Midstream Services LLC. 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. ARM participating members include Champion Energy Services, LLC; Direct Energy, L.P.; NRG Retail Companies; and TXU Energy Retail Company LLC.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.