The City Council made a move this week to push back the proposed rate increases by Oncor Electric Delivery, giving themselves and their constituents a breather and some valuable time to dig into the nitty-gritty of the proposed changes. This decision came down on Tuesday, with the Council choosing to suspend the increases to scrutinize the implications and secure rates that won't blindside residents' wallets.
In the resolution that the Council passed, it was stipulated that the city manager is to work in tandem with other member cities of the Oncor Steering Committee to bring on experts and legal counsel. These professionals will have the task of negotiating with the energy titan Oncor, aiming to sway outcomes towards what they believe will be fair numbers for their communities. The current rates Oncor charges are frozen in place during this period of suspension.
Earlier in the summer, Oncor threw its weight around a bit by handing applications to Fort Worth and other areas it powers, outlining their planned hike in rates for their service. It was a move to tack on some $834 million more annually across their service landscape. It translated to a hefty 13% revenue increase. Residential pocketbooks would feel a 12.3% increase, but it's the street lighting rates are ready to get a 51% jolt. The Fort Worth City News parsed through these figures that got the public's attention.
Without any pushback, Oncor's new rates would be another detail in our daily grind. But, thanks to state law, the City has that 90-day span to go over Oncor's ask with a fine-tooth comb - this could include a public airing of grievances. The ongoing review that the Council has set into motion is on Oncor's dime, as they are expected to pick up the tab for reasonable consulting expenses the Committee incurs in this rate rumble.
