Texas Orders Rate Cuts; Legislation Unlikely to Pass
In the first order under a 1995 law designed to increase competition in the electric wholesale market, the Texas Public Utilities Commission ordered Central Power & Light Co. to cut rates.
Meanwhile, Moody's has predicted that legislation introduced in the Texas Senate and House giving choice to small ratepayers is unlikely to pass.
Rate Cut. On March 31, the PUC ordered a $32.3-million rate cut for Central Power & Light Co. retroactive to May 1996. An additional $16.4-million rate cut must be implemented annually in 1998 and 1999 (Docket No. 14965).