Oncor wants to raise electricity customers’ rates by about $7 per month.
The company has filed a request for a base rate review with the Public Utility Commission of Texas.
Oncor said in a press release Thursday it needs the money to recover storm-related costs, to adjust for inflation and to lower its debt costs.
“We are requesting this rate review as we’re executing on our approximately $36 billion five-year capital plan as we seek to minimize the impacts of increased storms on our customers,” company Vice President Debbie Dennis said in the release.
The company said the rate is expected to take six to nine months, so it wants PUCT to give it a partial interim rate hike to recover some of the increased costs while the case is pending.
The city of Wichita Falls plans to get involved.
“The Steering Committee of Cities Served by Oncor will intervene in this rate case filed by Oncor and through that process, the City of Wichita Falls will have some say in what happens,” city spokesman Chris Horgen said Thursday.
This article originally appeared on Wichita Falls Times Record News: Oncor asks to raise rates on customers
Reporting by Lynn Walker, Wichita Falls Times Record News / Wichita Falls Times Record News
USA TODAY Network via Reuters Connect
