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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event reported) - March 26, 1997
TEXAS UTILITIES ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
TEXAS 0-11442 75-1837355
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1601 BRYAN STREET, ENERGY PLAZA, DALLAS, TEXAS 75201
(Address of principal executive offices)
Registrant's telephone number, including area code - (214) 812-4600
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ITEM 5. OTHER EVENTS
On March 26, 1997, Texas Utilities Electric Company (Company), joined
by other parties, filed with the Public Utility Commission of Texas (PUC) a
stipulation, which, if accepted by the PUC, would result in the Company's
making a one-time $80 million refund to its customers in August 1997 and the
Company's rates remaining unchanged during the remainder of 1997. The other
parties joining the Company in this filing are the PUC General Counsel, on
behalf of the PUC Staff and the public interest, the Office of Public Utility
Counsel, the state agency charged with representing the interests of
residential and small commercial customers, and the Coalition of Cities Served
by TU Electric. As previously reported in the Company's Annual Report on Form
10-K for the year ended December 31, 1996, the PUC Staff, as part of its
regular earnings monitoring process, had advised the PUC that it believed that
the Company was earning in excess of a reasonable rate of return and was
engaged in discussions with the Company concerning possible remedies. The
parties had been discussing a longer-term resolution, but determined that it
would be best at this time to negotiate an agreement that would resolve issues
concerning only the Company's earnings during 1997, so that they could continue
their discussions of a broader and longer-term resolution in light of any
legislation from the Texas legislature, which is currently in session. It is
likely that a broader and longer-term resolution, if mutually agreed to, would
include a resolution of the appeals of the Company's last two general rate
cases, including the Texas Supreme Court's reversal of a prior disallowance of
the costs of the repurchase of the minority interests in the Comanche Peak
Steam Electric Station. The Company is unable to predict the outcome of the
joint stipulation.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TEXAS UTILITIES ELECTRIC COMPANY
By: /s/ ROBERT S. SHAPARD
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Robert S. Shapard
Treasurer and Assistant Secretary
Date: March 31, 1997
