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CENTERPOINT ENERGY, INC. v. PUBLIC UTIL. COM'N

No. 03-0396.

143 S.W.3d 81 (2004)

CENTERPOINT ENERGY, INC. f/k/a Reliant Energy, Incorporated and American Electric Power Company, Inc., Petitioners, v. PUBLIC UTILITY COMMISSION OF TEXAS, Respondent.

Supreme Court of Texas.

Decided September 3, 2004.

Attorney(s) appearing for the Case

Marianne Carroll and Christopher Don Reeder, Carroll, Gross, Reeder & Drews, L.L.P., Kristen Pauling Doyle, Lloyd Gosselink Blevins Rochelle Baldwin & Townsend, Jonathan Day, Andrews & Kurth, L.L.P., Houston, Lino Mendiola, Phillip Glynn Oldham, Stephanie Anne Kroger, Karen Denise Whitt, Andrews & Kurth, Mayor, Day, Caldwell & Keeton, LLP, Austin, TX, for Party In Interest.

David C. Duggins, John F. Williams, Michael Dane McKaughan, Clark Thomas & Winters, P.C., Austin, TX, and Marc Lewis, Fort Wayne, IN, for other interested party.

Robert J. Hearon Jr., Ron H. Moss, Graves Dougherty Hearon & Moody, PC, Austin, TX, Harris S. Leven, and Scott E. Rozzell, Houston, TX, for Petitioner.

Thomas Lane Brocato, Office of Public Utility Counsel, Steven Baron, Karen Watson Kornell, Bryan L. Baker, Amalija J. Hodgins, Office of Attorney General, Greg Abbott, Attorney General of TX, Edward D. Burbach, Paul D. Carmona, Barry Ross McBee, and Marion Taylor-Drew, Office of Attorney General, Austin, for Respondent.

Alton J. Hall Jr., Epstein Becker Green Wickliff & Hall, P.C., Houston, TX, for Amicus Curiae City of Houston.

Justice OWEN delivered the opinion of the Court, in which Justice HECHT, Justice O'NEILL, Justice JEFFERSON and Justice WAINWRIGHT joined.

We deny the motion for rehearing. We withdraw our opinion of June 18, 2004 and substitute the following in its place.

In a regulated environment, electric utility companies made very large expenditures to build generation plants, some of which were nuclear power plants. Under regulation, those utilities and their shareholders...

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