ROHSTOFF INTERNATIONAL

22:50 | 11.08.2017
Berkshire Hathaway Energy’s Simple, Straightforward Bid for Oncor Earns Increasing Stakeholder Support

Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire
Hathaway Inc., today announced that the Texas Cotton Ginners’
Association and CMC Steel have agreed to support its proposed
acquisition of Oncor Electric Delivery Company LLC (Oncor). The growing
number of commitments now includes 12 stakeholder groups, including
several groups – like CMC Steel – that intervened during former proposed
acquisitions of Oncor.

“As we work through the approval process, we’re encouraged that our
meetings with stakeholders across Texas continue to confirm that the
deal we are proposing is a good fit for Oncor’s customers and Texas,”
said Greg Abel, Berkshire Hathaway Energy chairman, president and CEO.
“We truly appreciate the support we’re receiving from many groups, and
we’re looking forward to closing the deal and welcoming Oncor to the
Berkshire Hathaway Energy family.”

Berkshire Hathaway Energy will leverage its financial strength to
benefit Oncor customers and Texas. The all-cash deal includes 47
regulatory commitments and ring-fencing that ensures Oncor will continue
as a strong electric transmission and distribution company.

The influential Texas stakeholder groups that support Berkshire Hathaway
Energy’s proposed acquisition of Oncor include: Public Utility
Commission Staff; Cities Served by Oncor; Texas Industrial Energy
Consumers; Office of Public Utility Counsel; TXU Energy; NRG Energy; the
Texas Energy Association for Marketers (TEAM); the Alliance for Retail
Markets (ARM); IBEW Local 69; Targa Pipeline Mid-Continent WestTex
LLC/Targa Midstream Services LLC; Texas Cotton Ginners’ Association; and
CMC Steel. TXU Energy and NRG Energy represent two of the largest retail
electric providers in Texas, with TEAM and ARM representing dozens of
Texas electric market participants. ARM participating members include
Champion Energy Services, LLC; Direct Energy, L.P.; NRG Retail
Companies; and TXU Energy Retail Company LLC.
Berkshire Hathaway EnergyBerkshire
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 www.berkshirehathawayenergyco.com.
Forward-Looking StatementsThis
news release contains statements that do not directly or exclusively
relate to historical facts. These statements are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements can typically be identified
by the use of forward-looking words, such as “will,” “may,” “could,”
“project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,”
“intend,” “potential,” “plan,” “forecast” and similar terms. These
statements are based upon Berkshire Hathaway Energy Company’s current
intentions, assumptions, expectations and beliefs and are subject to
risks, uncertainties and other important factors. Many of these factors
are outside the control of Berkshire Hathaway Energy Company and could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause
actual results to differ materially from those expectations include the
impact of natural disasters and weather effects on revenues and other
operating uncertainties, uncertainties relating to economic, political
and business conditions and uncertainties regarding the impact of laws
and regulations, including laws and regulations related to environmental
protection, changes in government policy and competition. The foregoing
factors that could cause Berkshire Hathaway Energy Company’s actual
results to differ materially from those contemplated in the
forward-looking statements included in this news release should not be
construed as exclusive and should be considered in connection with
information regarding risks and uncertainties that may affect Berkshire
Hathaway Energy Company’s future results included in Berkshire Hathaway
Energy Company’s filings with the Securities and Exchange Commission,
which are available at the Securities and Exchange Commission’s website (www.sec.gov).
Berkshire Hathaway Energy Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170811005583/en/


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