What you need to know
Council members adopted a resolution denying Oncor’s requested rate increase, which now gives Oncor 30 days to appeal the decision to the Public Utility Commission of Texas.
The proposed rate increase would result in a 12.3% increase in residential rates and a 51% increase in street lighting rates, per town documents.
Additionally, the change would result in an increase of $7.90 on an average monthly bill for Prosper residents.
Zooming out
Oncor filed an application with the commission to raise system-wide electricity transmission and electricity rates in June by about 13%, or $834 million above current revenues, according to town documents.
Prosper Town Council previously voted to delay the rate increase for 90 days in July while town staff worked to determine if the increase was reasonable.
According to a news release from Oncor, the company is seeking the rate increase to address growing demands, particularly due to storm damage recovery, rising operational costs and maintaining financial stability.
Prosper is part of the Steering Committee of Cities Served by Oncor, a coalition of about 170 Texas municipalities that advocate for fair electric rates.
After determining the increase was unreasonable, the committee’s experts determined the increase should be denied.
What’s next?
Oncor will have 30 days to appeal the decision after which the appeal will be consolidated with the company’s filing that is currently pending with the commission, according to town documents.
