Nucor Steel v. Public Utility Commission of Texas

OPINION

Texas Energy Future Holdings Partnership ("Texas Energy") sought to acquire Oncor Electric Delivery Company ("Oncor"), which is a transmission-and-distribution electric utility. Under the relevant statutory scheme, the Public Utility Commission ("Commission") is required to analyze whether the acquisition of a regulated utility is in the public interest. See Tex. Util. Code Ann. § 14.101 (West Supp. 2011). Consequently, Texas Energy and Oncor filed various business commitments with the Commission regarding the acquisition and asserted that the proposed acquisition was in the public interest. In response, Nucor Steel – Texas, a division of Nucor Corporation ("Nucor"), intervened and opposed the proposed acquisition. Ultimately, the Commission determined that the transaction was in the public interest, and the district court upheld that determination. On appeal, Nucor challenges the Commission’s construction of the statutes setting out the public-interest analysis relevant to the proposed transaction. Essentially, Nucor argues that the Commission’s erroneous construction foreclosed the admission of certain evidence and testimony that Nucor contends should have been considered as part of the public-interest analysis. In addition, Nucor also contends that the Commission’s public-interest determination is not adequately supported by the evidence in the record. We will affirm the judgment of the district court.