Multi-billion dollar deals defined third quarter for some major utilities

For major utility  and pipeline companies, multi-million and multi-billion dollar deals defined the third quarter, according to a report released this week by PricewaterhouseCoopers, an audit and consulting firm.

The report tracks 22 deals that are worth a collective $78.1 billion. One of the biggest deals was NextEra Energy Inc.’s $18.7 billion potential merger with Dallas-based Energy Future Holdings Corp., a deal that would also make NextEra the owner of Oncor Electric Delivery Company, Texas’ largest distribution and transmission utility.

Several other Texas-based companies made it onto the report’s list of most valuable third quarter deals:

  • Canadian company Enbridge Inc. announced a potential $47 billion merger with Houston-based Spectra Energy Corp. The deal is expected to close during the first quarter of 2017, and Enbridge and Spectra would own 57 percent and 43 percent of the new entity respectively.
  • Another Canadian company, Columbia Pipeline Group, Inc. plans to acquire 53.5 percent interest, for $2.1 billion, in Houston-based Columbia Pipeline Partners.
  • NRG Yield Operating, an NRG Energy company, agreed to acquire the remaining 51.1 percent stake in CVSR Holdco from NRG for around $575 million. The deal was announced in August.