"Is there even a transaction for us to approve?" Commissioner Ken Anderson Jr. wondered aloud. Here's why the question is so complicated: In March, the PUC approved a version of the deal, but added major stipulations that Hunt's investors say are unworkable. So the investment group last month asked for a rehearing. But before the commission ruled on that request, Energy Future Holdings — Oncor's parent — filed a new plan in a Delaware bankruptcy court that no longer made the Hunt deal for Oncor its centerpiece. Under Energy Future's new proposal, creditors could take control of Oncor, or it could sell the transmission and distribution utility to Hunt's folks or anyone else (like Florida-based NextEra) that may be interested. So that leaves the commissioners to contemplate whether the old Hunt proposal was tossed out with the old Energy Future plan or if it's still technically in play.