NextEra Energy Inc. yesterday offered to buy Energy Future Holdings Corp.’s Oncor transmissions business, which is slated to be sold to an investment group led by Hunt Consolidated, the Wall Street Journal reported today. The sale of Oncor is at the heart of Energy Future’s $42 billion reorganization strategy, but the company has chosen the Hunt-led group as the buyer. NextEra said that it stands ready to purchase Oncor in a deal that would fully repay creditors of the division that owns the business. Energy Future decided to sell Oncor to Hunt and allied creditors after an auction was called off that would have allowed NextEra to bid against Hunt and others for the rights to the regulated business, a stable, cash-producing piece of the Texas power infrastructure.
