Texas Utilities Code

§ 14.101 — REPORT OF CERTAIN TRANSACTIONS; COMMISSION CONSIDERATION

UT § 14.101Title 2. PUBLIC UTILITY REGULATORY ACT · Part A. PROVISIONS APPLICABLE TO ALL UTILITIES · Ch. 14. JURISDICTION AND POWERS OF COMMISSION AND OTHER REGULATORY AUTHORITIES · Art. C. RESTRICTIONS ON CERTAIN TRANSACTIONS

Statute text

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(a)Unless a public utility reports the transaction to the commission within a reasonable time, the public utility may not:

(1)sell, acquire, or lease a plant as an operating unit or system in this state for a total consideration of more than $10 million; or

(2)merge or consolidate with another public utility operating in this state.

(b)A public utility shall report to the commission within a reasonable time each transaction that involves the sale of at least 50 percent of the stock of the utility. On the filing of a report with the commission, the commission shall investigate the transaction, with or without a public hearing, to determine whether the action is consistent with the public interest. In reaching its determination, the commission shall consider:

(1)the reasonable value of the property, facilities, or securities to be acquired, disposed of, merged, transferred, or consolidated;

(2)whether the transaction will:

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 129 (H.B. 1753), Sec. 1, eff. September 1, 2011.