Utilities Rise; NRG Energy Rallies -- Utilities Roundup

Features Dow Jones Newswires

Shares of utilities were higher.

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NRG Energy shares rallied after the utility said it would sell up to $4 billion in assets, slash costs and lower its debt, under pressure from activist investors. As part of the plan, NRG could sell all of its interest in "yieldco" NRG Yield, which operated renewable-energy assets developed by its parent.

Berkshire Hathaway will seek expedited regulatory approval from the Public Utility Commission of Texas for its $9 billion cash acquisition of Oncor. Berkshire would like to move quickly because of the threat of a competing bid mounted by hedge fund Elliott Management, which is acting in part because of fears it and other junior bondholders will be short-changed under Berkshire's deal.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

July 12, 2017 17:34 ET (21:34 GMT)