COLLEGE STATION, Texas (KRHD) — The City of College Station shared details Thursday on an order by the Public Utility Commission of Texas (PUC) to issue a refund totaling $26.3 million to 34 major utility systems. The companies included in the order use the city's transmission system.
The city calls the order "arbitrary" and says it "capriciously punishes College Station".
The City Council is scheduled to authorize a payment for the full refund during the September 26 meeting. The lump sum payment would avoid the punitive accrual of an additional $15 million in interest over 15 years.
What does this mean for electric consumers?
The City of College Station says the payment will come from the College Station Utilities Electric Fund. While it will not increase the city's electric rates, don't expect to see any rate reductions moving forward.
You can read the full release from the city by clicking here.