Sharyland Utilities announces transaction with Oncor and agreement on rate case dismissal

(DALLAS, TEXAS) – Sharyland Utilities, L.P. (Sharyland or Sharyland Utilities) announced today that it and Sharyland Distribution & Transmission Services, L.L.C. (SDTS) have signed a definitive agreement with Oncor Electric Delivery Company LLC (Oncor) to exchange their retail distribution assets and retail distribution operations for a set of Oncor’s transmission lines in West and Central Texas. In connection with this agreement, Sharyland and SDTS, along with other parties, have agreed to dismiss Sharyland’s current rate case upon closing of the Oncor transaction. This proposed transaction means that Sharyland’s approximately 54,000 retail distribution customers will become Oncor customers and, as a result, will see significantly reduced regulated retail delivery rates.
“This provides significant rate relief for our retail distribution customers,” said David A. Campbell, CEO of Sharyland Utilities and InfraREIT, Inc. “This transaction is the right thing to do for our customers and for the communities we serve. We would like to thank the Staff of the Public Utility Commission of Texas, the Texas Office of Public Utility Counsel, and the other parties for working diligently and constructively with the companies
to reach these agreements.”
“Since our inception, Sharyland Utilities has been strongly committed to serving as a community-centric utility, providing our customers with safe, reliable, affordable power,” said Hunter Hunt, Chairman of Sharyland Utilities. “We believe the most community-centric action we can take is to give our customers access to a world class utility like Oncor with the lowest rates in the State, and focus our forward strategy in support of the transmission infrastructure necessary for our communities to continue to grow and prosper.”
Brian Lloyd, Executive Director of the Public Utility Commission of Texas (PUCT), commented, “I am immensely appreciative of Sharyland, SDTS and Oncor for the months of hard work that went into crafting these agreements. This landmark settlement will provide substantial rate relief to Sharyland customers by rolling them into the much larger customer base of Oncor, a fair resolution to Oncor’s rate case, and regulatory certainty for these utilities and their customers. I am proud to have the PUCT Staff join the other signatories in presenting these agreements to the Commissioners for their prompt consideration.”