New York (WBAP/KLIF) – The best known private investment company in the United States has agreed to buy the state’s largest electricity distributor. Warren Buffett’s Berkshire Hathaway will pay $9 billion for Oncor. Oncor is the company that distributes electricity to about 10 million Texans. Its parent company, Energy Future Holdings Corp., entered bankruptcy in 2014. To become final the deal must be approved by the presiding bankruptcy judge, and then go through an involved process to approval by the Texas Public Utility Commission. That can take several months. However, the company’s official announcement says Berkshire Hathaway’s offer has already been approved by the PUC staff, the office of the Texas Public Utility Counsel, Texas Industrial Energy Consumers, and a coalition of cites served by Oncor.
