Donna Nelson is chairwoman of the Texas Public Utility Commission. The three-member commission unanimously approved the sale of Dallas-based Oncor, the state’s largest regulated electrical utility, to the Ray Hunt family of Dallas in an $18 billion deal. But it imposed a condition: tax benefits from the unusual business structure, a real estate investment trust, may have to be shared with ratepayers. After adding that provision, investors refused to fund the deal, and the Hunts pulled the offer last month. Oncor’s future is up in the air again.

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