Senator Hinojosa Applauds PUC's Vote for Immediate Return of $64 Million to South Texas Electric Customers
AUSTIN -- Senator Juan "Chuy" Hinojosa applauded the Public Utility Commission's vote Thursday to approve an immediate refund of $64 million for South Texas electric customers.
An immediate rebate of the funds will mean an approximate monthly credit of $31 through the end of this year for CPL customers in South Texas.
"This is a great victory and some relief for the working families of South Texas who are paying sky high prices for electricity," Senator Juan "Chuy" Hinojosa said. "I commend the PUC for their sensitivity to the rate payers of South Texas and for making a good public policy decision."
The $64 million rebate, often referred to as the "Retail Clawback," comes from the money that consumers were overcharged as a result of the electric market being deregulated in 2002. Senator Hinojosa has been advocating for several months that this money be returned immediately to South Texas consumers.
Hinojosa sent a letter to all three board members of the PUC yesterday asking that they vote in favor of an immediate refund of the money.
"It was important that the money be returned to South Texans this year, because the deregulation law does not guarantee the return of the money after January 2007," Senator Juan "Chuy" Hinojosa said. "I am extremely pleased that the PUC sided with the rate payers in their decision today."