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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) - January 11, 1994
TEXAS UTILITIES COMPANY
(Exact name of registrant as specified in its charter)
TEXAS 1-3591 75-0705930
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2001 BRYAN TOWER, 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
Reference is made to the Annual Report on Form 10-K of Texas Utilities
Company (Company) for the year ended December 31, 1992 in Item 1. Business
under Regulation and Rates and in Item 8. Financial Statements and
Supplementary Data under Note 11 to Financial Statements. Reference is
also made to the Company's Quarterly Report on Form 10-Q for the quarter
ended March 31, 1993 in Item 1. Financial Statements under Note 7, the
Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 1993
in Item 1. Financial Statements under Note 6, the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 1993 in Item 1.
Financial Statements under Note 6 and the Company's Current Report on Form
8-K dated November 24, 1993.
Texas Utilities Electric Company (TU Electric) is the principal subsidiary
of the Company. In January 1993, TU Electric made applications to the
Public Utility Commission of Texas (PUC) (Docket 11735) and to its
municipal regulatory authorities for upward adjustments in rates for
electric service throughout its service area. Such request reflected, among
other things, costs associated with Comanche Peak Unit 2, costs associated
with Comanche Peak Unit 1 capital investment after the end of the test year
ended June 30, 1989 in TU Electric's prior rate case (Docket 9300),
additional ad valorem taxes and certain postretirement benefit costs. The
proposed rate adjustments, if approved by the PUC, would have affected all
classes of service and were estimated to increase annual operating revenues
by approximately $760 million, or 15.3%, based upon the test year ended
June 30, 1992. In August 1993, pursuant to rules of the PUC, TU Electric
placed its requested rate increase into effect, under bond and subject to
refund with interest, applicable to energy sales on and after such date.
At hearings held on January 5, 6 and 11, 1994, the PUC made determinations
with respect to various issues in the revenue requirements and rate design
phases of Docket 11735. These PUC determinations, if confirmed in a final
order expected to be issued in late January, 1994, would result in a total
annual revenue increase of approximately $436 million, or 8.8%. This
increase is significantly lower than the increase of approximately $526
million, or 10.6%, which was recommended by the PUC hearings examiners in
November 1993. TU Electric strongly disagrees with this result. Subsequent
to issuance of the final order by the PUC, TU Electric intends to file a
motion for rehearing and will appeal the outcome, if necessary. TU Electric
will also refund the difference between the bonded rates and the rates
approved in the final order, which refund will be mitigated by a fuel cost
surcharge which has been approved by the PUC.
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 COMPANY
By: /s/ H. Jarrell Gibbs
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H. Jarrell Gibbs
Vice President
Date: January 14, 1994
