HomeMy WebLinkAboutResolution 2292A Resolution ~ aa9~°
A RESOLUTION RATIFYING THE AGREEMENT REACHED BETWEEN TU
ELECTRIC AND THE STEERING COMMITTEE OF CITIES REGARDING
A REFUND OF $80 MILLION AUTHORIZING INTERVENTION IN
THE PUC DOCKET TO CONSIDER THE REFUND AUTHORIZING
CONTINUED NEGOTIATIONS BETWEEN TU ELECTRIC AND THE
STEERING COMMITTEE TO RESOLVE FUTURE OVEREARNINGS
ISSUES AND THE APPEALS AND REMANDS ASSOCIATED WITH PUC
DOCKET NOS 9300 AND 11735
WHEREAS the City of Fort Worth is a member of the Steering
Committee of Cities Served by TU Electric (Steering Committee)
and
WHEREAS, the Steering Committee has negotiated with TU
Electric, the PUC's General Counsel and the Office of Public
Utility Counsel (OPC), to resolve TU Electric's overearnings in
1997 and
WHEREAS, a Stipulation and Joint Application, reflecting a
negotiated agreement between the Steering Committee TU Electric
the PUC`s General Counsel and OPC for TU Electric to refund $80
million to ratepayers in August 1997 was filed with the PUC on
March 26 1997 and
WHEREAS, the PUC will docket a proceeding to consider the
Stipulation and Joint Application and
WHEREAS, there is need for further negotiation with TU
Electric to resolve future overearnings, the outstanding appeal of
TUEC's last rate case, PUC Docket No 11735 and the Texas Supreme
Court's remand to the PUC of certain issues from Docket No 9300
NOW THEREFORE, BE IT RESOLVED BY THE CITY FORT WORTH, TEXP,S
,SECTION 1 The City Council of the City of Fort Worth ratifies
the action of the Steering Committee in reaching an agreement with
TU Electric on 1997 overearnings and specifically approves of the
Stipulation and Joint Application filed with the PUC on March 26,
1997 and of the agreement of TU Electric to refund $80 million to
ratepayers in August 1997
SECTION 2 The City Council of the City of Fort Worth authorizes
participation before the PUC in proceedings to consider the
Stipulation and Joint Application for a refund of $80 million
CITY OF FUKT W UK 1'li
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CITY OF FORT WORTH