Oncor Electric Delivery
Oncor Electric Delivery Company is Texas's largest transmission and distribution electric utility, the 5th largest in the US, serving more than 10 million Texans in 420 cities and 120 counties in the state. Their service territory includes east, west and north-central Texas, including Dallas, Fort Worth, Irving, Plano, Arlington, Beeville, Midland, Odessa, Killeen, Waco, Wichita Falls, and Tyler and other surrounding cities in Texas. In 2018, Sempra Energy acquired a majority stake in Oncor for US $9.45 billion.[3]
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| Subsidiary | |
| Industry | Public utility |
| Founded | 2007 |
| Headquarters | Dallas, Texas, United States |
Key people | Allen Nye (CEO) |
| Revenue | US$ 4.3 Billon (2019) [1] |
 | |
Number of employees | 4,000 |
| Parent | Sempra Energy |
| Website | www |
History
It was formerly known as TXU Electric Delivery and TU Electric. Predecessor companies include Dallas Power & Light (DP&L), which served the city of Dallas; Texas Electric Service Company (TESCO), which served areas surrounding Fort Worth and west Texas; and Texas Power and Light (TP&L), which served other areas of northern and east-central Texas.
Oncor is privately held by a limited number of investors including Energy Future Holdings Corporation ("EFH"). Oncor is separate from its owners and separately managed by a majority independent board of directors. While a majority owner, EFH is not involved in the management of Oncor. On March 24, 2016, the Texas 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. The subsequent proceeding's focus is to determine how the potential tax savings attributable to the REIT format would be shared with utility ratepayers.[4]
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. This bid was ultimately surpassed by Sempra Energy, which bid $9.45 billion in cash and the assumption of debt on August 21, 2017.[5] The acceptance of the Sempra bid effectively terminated the Berkshire bid. The Sempra bid subsequently received court approval on September 6, 2017.[6] On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion.[3]
Major projects
As of 2014, Oncor Electric Delivery Company was working in partnership with Siemens Power Technologies to build a smart grid[7] in an exploration of the use of storage batteries and micro-grids. The Competitive Renewable Energy Zone (CREZ) project was intended to improve the transmission of wind power to Oncor's grid.[8]
Oncor Electric Delivery Company works with private and public utilities throughout the country through organizations called Mutual Assistance Groups. Oncor is a member of Texas Mutual Assistance Group, Midwest Mutual Assistance Group, and the Southeastern Electric Exchange. 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. Members are able to quickly access and deploy resources and personnel across long distances to communities impacted by severe weather. For example, Oncor crews were sent to Florida and Georgia to assist in Hurricane Matthew aftermath in 2016. 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.
Environmental Impact
Oncor Electric Delivery Company's Take A Load Off Texas provides a variety of energy efficiency programs for residences and businesses in an effort to reduce energy and save people money on their electric bill. Oncor budgeted more than $50 million for its programs in 2019; in the last 10 years, Take A Load Off Texas has helped more than 250,000 customers reduce their energy usage.[9]
Oncor has worked diligently in preparation for the adoption of larger, commercial electric vehicles in Texas. The company works with electric vehicle original equipment manufacturers and other utilities to monitor the use of electric vehicles in its service territory, so every vehicle and home has adequate power supply; it also works with stakeholders to help install and plan locations for charging stations.[9]
For nine consecutive years, Oncor has partnered with the Arbor Day Foundation's Energy-Saving Trees Program to give away thousands of free trees to customers. The program is designed to help customers better understand where to plant trees for maximum energy savings and the protection of electrical equipment.
Corporate Social Responsibility
In April of 2020, Oncor donated $1.7 million to community non-profit organizations across its service territory that serve those most affected by the COVID-19 pandemic.
References
- "Oncor Electric Delivery Company Company Profile - Office Locations, Competitors". Craft.
- LLC, Oncor Electric Delivery Company. "Oncor Reports Solid 2018 Results". www.prnewswire.com. Retrieved 2020-04-04.
- Brickley, Peg (March 8, 2018). "Texas Regulators Approve Sempra's $9.45 Billion Oncor Buyout". The Wall Street Journal. The New York Times, New York City, United States. Retrieved March 9, 2018.
- Davidson, Mark (25 March 2016). "Texas Oncur Buyout Approved – With Reservations". The National Law Review. Lewis Roca Rothgerber LLP. Retrieved 11 May 2016.
- "Form 8-K". www.sec.gov. Retrieved 2017-09-22.
- Nikolewski, Rob. "Judge OKs Sempra's $9.45B deal with Oncor". sandiegouniontribune.com. Retrieved 2017-09-22.
- Desonie, Dana (April 2010). "A Smart Grid for Smart Texans" (PDF). siemens.com. Retrieved 23 Jun 2014.
- Schnurman, Mitchell (31 May 2014). "Oncor bets on a better grid". dallasnews.com. Retrieved 23 Jun 2014.
- "Oncor's The Wire". thewire.oncor.com. Retrieved 2020-07-28.