NextEra Energy Inc., which was blocked by Hawaii regulators from purchasing Hawaiian Electric Industries Inc. for $4.3 billion this month, announced today that it will purchase Texas’ largest electric utility for $18.4 billion.

Juno Beach, Fla.-based NextEra said it is seeking to become a majority owner of Oncor Electric Delivery Co., an electric energy power transmission network in Texas, by purchasing Energy Future Holdings Corp., which owns about 80 percent of Dallas-based Oncor.

If the transaction closes, Oncor will become a principal subsidiary of NextEra — joining Florida Power & Light Co., NextEra’s electric utility in Florida; and NextEra Energy Resources LLC, NextEra’s utility scale renewable energy business.

“We are pleased to have reached a definitive agreement to acquire EFH’s 80 percent indirect interest in Oncor,” said Jim Robo, chairman and chief executive of NextEra Energy. “We are incredibly impressed by Oncor’s management team and its employees, and we are committed to retaining the Oncor name, its Dallas headquarters and local management. NextEra Energy shares Oncor’s strategy of making smart, long-term investments in transmission and distribution to continue to deliver affordable, reliable electric service to its customers. We look forward to working closely with Oncor’s leadership team and filing our joint application with the Public Utility Commission of Texas.”

The sale needs approval from the Public Utility Commission of Texas and the Federal Energy Regulatory Commission.

NextEra Energy said it expects the sale to close in the first quarter of 2017. The sale has already been approved by the boards of directors of both NextEra Energy and EFH.

When announcing the sale, NextEra said it is committed to retaining local management, the company’s Dallas headquarters and the Oncor name. NextEra said there will be no involuntary reductions two years after the sale closes, and that it will honor all existing union contracts and commitments. NextEra also said it will help Oncor to continue its innovative technologies and five-year capital plan.

“We believe our deep operating expertise in Texas and across the nation, strong financial profile and experience operating in a regulated utility environment offer uniquely compelling advantages,” Robo said.

The commitments mirror what NextEra offered Hawaii during state regulators’ 19-month review of its application to purchase HEI.

During its pursuit of HEI, NextEra said the acquisition would result in about $60 million in customer savings over four years. NextEra promised not to seek a rate increase for four years and not to lay off workers for two years after the sale closes. NextEra also said HECO and its headquarters would remain in Honolulu and NextEra would continue HEI’s level of corporate giving.

In a 2-0 vote on July 15, the Hawaii Public Utilities Commission denied NextEra’s purchase of HEI because the agency had doubts regarding Next­Era’s commitment to the state’s goal to reach 100 percent renewable energy dependence by 2045 as well as the solidity of NextEra’s promises of $60 million in rate credits and $1 billion in statewide benefits.