On July 22, Prosper Town Council voted to suspend the start date of Oncor’s proposed rate increase, joining with neighboring cities in the Dallas-Fort Worth metroplex.
The move allows town staff additional time to evaluate the proposal and discuss its potential impact, according to town documents.
The details
Oncor submitted its application to the Public Utility Commission of Texas on June 26, seeking approval for an $834 million rate hike across its entire service network, according to a news release from Oncor.
The proposed increase could increase Prosper residents’ monthly electric bills by approximately $7 if approved, according to the Oncor release.
According to the release, Oncor is seeking a rate hike driven to address three main needs:
- Storm damage recovery, which makes up nearly half of the requested increase
- Rising operational costs due to inflation
- Maintaining financial while supporting infrastructure expansion
Prosper is a part of the Steering Committee of Cities Served by Oncor, a group of 170 municipalities that work together to ensure electric rates remain fair.
The committee helps member cities evaluate utility rate proposals and participate in regulatory proceedings, and it is currently reviewing the proposed rate adjustment and exploring possible responses.
What’s next?
Although the new rates were originally scheduled to take effect July 31, state law gives Prosper the authority to postpone the increase for up to 90 days.
