Berkshire Hathaway Energy Supports Oncor Asset Swap and Rate Settlement

DES MOINES, Iowa–(BUSINESS WIRE)–Monday, Oncor announced that it had entered into an agreement with Texas
utility Sharyland to swap assets in a transaction valued at
approximately $400 million. The transaction has received broad industry
and customer support, and Berkshire Hathaway Energy applauds Oncor and
the various stakeholders for developing solutions to ensure continued
safe, reliable, and affordable service for customers.

“The problem-solving culture demonstrated by Oncor and its management
team will be a great fit with Berkshire Hathaway Energy,” said Greg
Abel, Berkshire Hathaway Energy chairman, president and CEO. “The
conditions of the agreements are examples of Oncor’s strong commitment
to customers; that same commitment is reflected across Berkshire
Hathaway Energy’s businesses.”

Oncor also announced that it had reached a proposed settlement in its
rate case, which was filed earlier this year. The rate case settlement
also garnered wide support within the industry and among consumer groups.

The rate settlement contemplates a stronger financial structure for
Oncor, with more owner-funded equity to fund proposed projects and
investments in the grid. Berkshire Hathaway Energy commends Oncor’s
efforts to achieve a balanced outcome for customers that helps keep
rates among the lowest in Texas and preserves the company’s ability to
invest in its system at reasonable cost.

“Berkshire Hathaway Energy’s ownership structure is a source of
financial strength that uniquely positions us to provide the resources
Oncor needs to fund the new equity requirement,” said Abel.

Berkshire Hathaway Energy
Hathaway Energy owns a portfolio of locally managed businesses that
share a vision for a secure energy future, make sustainable investments
to achieve that vision and had $85 billion of assets as of Dec. 31,
2016. These businesses deliver affordable, safe and reliable service
each day to more than 11.6 million electric and gas customers and
end-users around the world and consistently rank high among energy
companies in customer satisfaction. Berkshire Hathaway Energy is
headquartered in Des Moines, Iowa, U.S.A. Additional company information
is available at

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