If successful, the pair of smaller transactions will ultimately lead to NextEra owning 100% of Oncor.

NextEra Chairman and CEO Jim Robo said the company would file an application today with the Public Utility Commission of Texas to seek approval of the deal. NextEra Energy has also reached a $27 million agreement to acquire the remaining 0.22% interest in Oncor that is owned by Oncor Management Investment LLC.

— Utility Dive