Faced with a deadline to rule on J.P. Morgan’s $4.3 billion purchase of El Paso Electric, the Texas PUC will take the matter up during its next meetings.

El Paso Electric and the investment funds seeking to buy the utility have reached a settlement with most of the parties, they told the Texas PUC.

Texas' PUC denied El Paso’s request for an extension of settlement negotiations, maintaining the agreement deadline in the acquisition of El Paso Electric.

The Texas PUC’s hearing on a $4.3 billion private equity bid for El Paso Electric has been postponed to allow time for the parties to reach a settlement.

ERCOT CEO Bill Magness briefed the Texas Public Utility Commission on his organization’s response to the intense August heat.