Back in 1999, Entergy Texas had its rates frozen. Eight years later, the company has filed a rate case with the Public Utility Commission of Texas.
If approved, the average 1,000 kilowatt-hour residential bill would rise nearly 12 percent starting in July of next year. In dollars, it's a $14 increase from $116 to $130.
The company's base rates and storm damage reserve fund would be the beneficiary of the extra dollars if approved by PUCT.
"Entergy Texas is asking for rates that align with our cost of doing business," said Joe Domino, the president and CEO of Entergy Texas in a press release. "Our rates were frozen in 1999 and not once in the eight years since then have we earned the level of return on equity that we are authorized to receive on the nearly $2 billion we have invested in Southeast Texas."
Entergy officials add they plan on investing another $415 million through 2009.
A decision on Entergy's request is expected next year, according to the company.
In all, 26 counties in Texas have Entergy customers. More than 385,000 people get Entergy energy.
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