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$400M Utilities Swap Could Benefit Northeast Texas

from Sharyland LinkedIn page
from Sharyland LinkedIn page
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Sharyland Utilities and Oncor are close to cementing a multi-million-dollar deal.

A $400 million deal signed Monday between Oncor, Texas' largest utility services provider, and the West Texas-based Sharyland Utilities is expected to significantly lower electricity bills for Sharyland customers, including several in parts of Hunt and Collin counties.

The Dallas Morning News reported that the deal gives Sharyland $380 million worth of transmission lines in west and central Texas, plus $20 million in cash. Oncor in exchange will get 54,000 Sharyland customers, who are estimated to be worth $400 million to Oncor. That includes about 5,500 customers in the northern Hunt and eastern Collin County area.

The transaction is still subject to Public Utility Commission approval but is expected to pass.