WICHITA FALLS, Texas (TNN) - Negotiations have begun between Oncor and the city of Wichita Falls over the rate Oncor can charge customers.
Oncor has asked the state of Texas for a $97.8 million increase in revenue this year. That would come out to $1.13 for every Wichita Falls resident.
City council declined that rate this morning and will now join nearly 100 other cities in Texas to hire a legal team to negotiate a new rate with the electric company.
“Hopefully we’ll be able to come to a resolution that both parties can agree on: the cities and Oncor,” said Kinley Hegglund, the city of Wichita Falls’ attorney, “but we just want to make sure that the citizens of Wichita Falls and all the citizens of the cities involved are not overpaying.”
Over the next 60 days, this group of cities, called the Oncor Steering Committee, will present a new proposed rate to Oncor. If Oncor agrees, the new rate will go into effect shortly after.