Brothers and Sisters I would like to take this opportunity to wish everyone and their families a Merry Christmas and a Happy New Year. My wish for all IBEW Local 69 members is that we have an opportunity to spend time during the holidays with family and friends.
The regulatory staff in Texas recommended rejection of Hunt Consolidated’s plan to purchase and restructure Oncor. Darryl Tietjen, director of the Rate Regulation Division at the Public Utility Commission of Texas, has told PUC regulators that the deal will move millions of dollars from ratepayers to shareholders, and has recommended the state reject the deal.
“The proposed transaction is not in the public interest and I recommend that the Commission reject the applicants’ application,” Tietjen wrote in testimony. He said the deal would involve a substantial transfer of wealth from ratepayers to shareholders,” to the tune of $250 million annually.
The testimony of the regulatory staff is only a recommendation to regulators, not a final decision. The commissioners themselves must still approve the deal and have set hearings for January 2016. If the Hunt’s are not allowed to restructure Oncor as a REIT it is very possible they will walk away from the deal, which would open the door for NextEra. The saga continues.
While the big money people fight over the pie, we the workers need to continue to take pride in our local union, being a craftsman, and always working safe so we can enjoy our family and friends away from the job.
We have our quarterly meetings scheduled for January 2016. The schedule for the meetings is as follows;
Waco - January 5 – 5 pm – Hampton Inn – 4259 N Hwy I-35
Salado – January 6 – 5 pm – Holiday Inn – 1991 N Stagecoach Rd.
Jacksonville – January 7 – 5 pm – Best Western – 1659 S Jackson St.
Brownwood – January 12 – 5 pm – Holiday Inn Express – 504 W Commerce
Snyder – January 13 – 5 pm – Holiday Inn – 1305 Coliseum Dr.
Odessa – January 14 – 6:30 pm – Elegante Hotel – 5200 E University
Wichita Falls – January 19 - 5 pm – 4214 Kell Blvd.
Paris – January 20 – 5 pm - Holiday Inn Express – 3025 N E Loop 286
Lewisville – January 21 – 5 pm – Select Inn – 200 N Stemmons Frwy.
Dallas – January 26 – 5 pm – 1408 N Washington
Fort Worth – January 28 – 5 pm – 4750 Bryant Irvin Rd.
I look forward to seeing everyone that can attend a meeting.
Remember the reason for the season. Until next time may God bless you, your family, and our local union.