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The Public Utility Commission of Texas (PUCT) approved SWEPCO's recovery of construction financing costs for the Turk Power Plant in its 2012 rate case. However, the initial PUCT decision faced multiple challenges and a lengthy review process, including a Supreme Court ruling. Recently, SWEPCO and all other parties entered into a settlement which will result in customer credits totaling $147.5 million related to those amounts collected since the initial PUCT decision. These credits will appear on customers' bills as the Turk Remand Credit Rider for 24 months beginning February 2025.
SWEPCO requested to recover construction financing costs for the Turk Power Plant in its 2012 rate case. The PUCT approved this request, allowing recovery of costs known as Allowance for Funds Used During Construction (AFUDC). Differences of opinion led some groups to challenge the decision in the court system, up to the Texas Supreme Court. Eventually the court of appeals remanded the proceeding back to the PUCT for further review. On October 1, 2024, a settlement was reached among all parties. The PUCT approved this agreement on January 16.
Customers should see a credit applied directly to their bills beginning in February and ending 24 months later.
The credit will appear on customers' bills as the Turk Remand Credit Rider for 24 months beginning February 2025.
An average residential customer bill for our SWEPCO customers in Texas is $142.03 before the credit, from about 1,100 kWh usage per month. As a result of this action, they'll see about $19.04 in credits for months May to October and $13.52 in credits for each of the other months
No. The credit is typically issued as a credit directly on the customer's bill.
No. The credit will depend on a customer's current usage.
The credit will be based on a factor applied to the customer's kWh usage and the monthly customer charge. This will not include fuel costs.
Texas customers eligible for a credit will be credited during the time period as described. However, if they move and are no longer a SWEPCO customer, they would not receive a credit.
This credit is only applicable to Texas customers.
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