While some liquefied natural gas (LNG) and Mexican operations have been slowed, Sempra Energy’s U.S. utilities helped carry the energy infrastructure holding company to increased profits in 1Q2020.
Articles from Oncor
Sempra Energy expects to receive regulatory approvals soon for its pending $9.45 billion purchase of 80% of the Texas utility giant Oncor Electric Delivery Co.’s holding company, CEO Debra Reed said Tuesday.
Sempra Energy and its acquisition target, Oncor Electric Delivery Company LLC, have reached a settlement agreement with Texas stakeholders, including the Public Utility Commission of Texas (PUC).
Sempra Energy’s substantial investments in U.S. liquefied natural gas (LNG) and Latin America are generating buzz on Wall Street, but the San Diego-based company is, at its core, a utility holding company, with the California units primed for growth, CEO Debra Reed said.
The pending $9.45 billion acquisition of the parent for Texas-based Oncor Electric Delivery Co. would help natural gas-focused Sempra Energy double down on its efforts to become a major player on the Gulf Coast, adding to liquefied natural gas (LNG) and Mexico opportunities, CEO Debra Reed said Monday.
Natural gas-focused San Diego-based Sempra Energy made a late bid that allowed it to pluck off bankruptcy-bound Energy Future Holdings Corp. (EFH), the indirect owner of 80% of Texas-based Oncor Electric Delivery Co., for $9.45 billion in cash, topping one by Warren Buffett’s Berkshire Hathaway conglomerate.