NextEra Asks Texas High Court To Review Scuttled $18B Deal

By Michael Phillis (April 27, 2020, 8:44 PM EDT) -- NextEra Energy Inc. has said even though its $18 billion deal with Oncor Electric Delivery Co. LLC fell apart after it was rejected by the Public Utility Commission of Texas, the state's high court should still consider whether the commission's actions exceeded its authority.

NextEra said the Texas Legislature prescribed specific circumstances when transactions could be blocked by the PUC, but those constraints were violated by a commission that thought instead it could consider whatever it wanted within its "area of technical expertise." The appeals court decided the matter was moot because the deal is dead, but disputes over PUC's authority...

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