The electricity industry in the United States is undergoing a period of massive and turbulent transition. One recurring question is whether public regulation or public ownership can best serve public interest goals. Nearly every state has an agency with intensive regulatory powers to direct or influence the activities of electric utilities. However, even with state regulatory oversight, private utilities have faced persistent criticism, and public ownership of utilities is often touted as a potentially desirable alternative. In this debate about public ownership versus public control, Nebraska offers an interesting and underexamined case-study.