OPINION
MACK KIDD, Justice.
This direct appeal concerns the validity of a rule created to facilitate the transition to a competitive utilities market. Appellants—the State of Texas, the Office of the Public Utility Counsel, and the City of Houston—challenge the provisions governing adjustments to the fuel-factor portion of the price-to-beat rule promulgated in 2001 and amended in 2003 by appellee, the Public Utility Commission of Texas...
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