Additionally, crews were sent to California to assist in restoring power to areas devastated by the region's wildfires in 2018, and to Florida to assist in preparing for Hurricane Dorian in 2019. For example, Oncor crews were sent to Florida and Georgia to assist in Hurricane Matthew aftermath in 2016. Members are able to quickly access and deploy resources and personnel across long distances to communities impacted by severe weather. The mutual partnerships are part of a larger network of utilities that meet throughout the year to share best practices and improve upon safety methods. Oncor is a member of Texas Mutual Assistance Group, Midwest Mutual Assistance Group, and the Southeastern Electric Exchange. 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 $250M, 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 Power and Light (TP&L), which served other areas of north west and east-central. It was formerly known as TXU Electric Delivery and TU Electric.
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