Oncor Electric Delivery Company is the largest transmission and distribution electric utility in Texas.[1] Their service territory encompasses east, west, and north-central Texas, including Dallas, Denison, Fort Worth, Killeen, Midland, Odessa, Round Rock, Sherman, Temple, Tyler, Waco, and Wichita Falls.[3] In 2018, Sempra Energy acquired a majority stake in Oncor for US$9.45 billion.
History
The company 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 Texas Power and Light (TP&L), which served other areas of northwest and east-central Texas. Oncor is TXU electric delivery replacing analog meters in 2008 with digital meters throughout its system, although some older analog meters remain.
Oncor was privately held by a limited number of investors, including Energy Future Holdings Corporation (EFH), and separately managed by a majority independent board of directors. While a majority owner, EFH was 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 (estimated at $250 million) from the REIT structure in a separate proceeding to be held at a future date.