Intrastate v. Interstate
The state of Texas has an intrastate utility system. Intrastate means completely within the state. Interstate, comparable to a highway, means between multiple states.
Federal v. State Regulations
“To regulate commerce with foreign nations, and among the several states, and with the Indian tribes” U.S. Const. Art. I, § 8, cl. 3.
The federal legislature is given the power to regulation commerce that crosses state lines; interstate commerce. Intrastate commerce, that happens exclusively within a state, can be still subject to state regulation. The absence of federal regulation, does not automatically mean there is an absence of ALL regulation.